Central Banks
Trichet reaches out to German public
European Central Bank chief Jean-Claude Trichet participates in several interviews with German media to assuage fears over the central bank’s entry into bond markets
The case for reserve currency competition
A competitive market for reserve currencies would help remove global imbalances, says Ousmène Mandeng
A future for the SDR?
Richard Cooper looks at whether the SDR could substitute for the dollar as a global reserve currency
Follow the money
Monetary aggregates are set for a comeback in central banking, but as indicators of financial instability, not inflation. Claire Jones reports
Lessons from the crisis for monetary policy
As central bankers discuss the future of the monetary policy framework, Robert Pringle puts the debate in a wider context and raises some questions about the emerging new consensus
A return to complexity: economic policy after the crisis
The crisis has challenged the fundamentals of the prevailing macroeconomic orthodoxy. Policymakers must recognise this and adopt new frameworks accordingly, Sir John Gieve argues
Ten issues for regulators to consider
René Smits devises ten key issues that European financial legislators must consider when constructing the post-crisis regulatory framework
Five lessons for dealing with EU bank failures
Hugo Banziger spent two weekends trying to save a German bank from failure. Here he identifies how and where European Union rules must change so that resolutions are faster and fairer
Federal Reserve policy as shown by its history
Much of the independence won by Paul Volcker has been surrendered in the recent crisis, says Allan H. Meltzer
Interview: Peter Praet
Fortis’s collapse all too well illustrated the difficulties in saving cross-border European banks. But the ideal solution, a European crisis resolution authority, remains a distant dream. However, there is an existing, yet perhaps unusual, candidate from…
The Volcker Rule: wrong answer or the right question?
The Volcker Rule recognises that the structure of the banking system needs to change. For that it should be supported, says Michael Taylor
RBI’s Subbarao: Tobin tax benefits “debatable”
Reserve Bank of India governor Duvvuri Subbarao says India will hold back on capital controls
Richmond Fed on sovereign debt dilution
A Richmond Federal Reserve study shows having a sovereign debt default program in place reduces sovereign market risk
RBA: inflation expectations converging globally
Reserve Bank of Australia paper finds inflation targeting policies helped the convergence of inflation forecasts to US levels
Central banks in biggest US Treasury sell-off for three years
Federal Reserve data shows foreign holders of US treasuries moved away from the dollar
Deficits set to stay sky-high despite growth revival, warns Fund
IMF says deficits worldwide will fall by less than expected in 2010, in spite of improved growth prospects; developed economies worst offenders
NBB’s Praet backs DG Competition for EU resolution authority
National Bank of Belgium’s Peter Praet says Directorate General for Competition could play credible role in resolving failed banks
Emerging Europe keen on euro despite Greek debt woe
Central and Eastern European countries remain drawn to the single currency despite Greek troubles