Central Banks
When to exit?
In Central Banking’s second webinar, sponsored by BNP Paribas Securities Services, Charles Goodhart, Lucrezia Reichlin, Paul Mortimer-Lee and Gabriel Stein discussed when central banks should raise rates
The calculus of international currency use
Hans Genberg analyses the costs and benefits of a currency being used beyond its issuer’s borders
The fight for the Fed
Malan Rietveld looks back at Ben Bernanke’s bruising confirmation hearings
Has Bernanke broken his promise to Friedman?
The monetary policies of the Federal Reserve have helped to avoid a second Great Depression, but Bernanke’s emphasis on credit has been misguided, says Tim Congdon
Audit the Federal Reserve?
An independent institute for monetary statistics is needed in the United States, says William Barnett. Expanded congressional audit would be a second best alternative.
The winds of change for central banks
John Singleton argues that the forces pushing for a change in central bankers’ relations with governments are currently very strong, as they were in the 1930s
SA finance minister flip flops on inflation targeting
South Africa’s Pravin Gordhan says inflation-fighting approach to be “totally different” days after pledging to keep Reserve Bank’s monetary-policy mandate unchanged
Deputy: Canada could keep new OMOs post crisis
Bank of Canada’s David Longworth says crisis-fighting operations could stay part of central bank’s toolkit
Monetary-policy transmission in Mauritius
Paper examines mechanism over the past decade
A model for rate setting in Israel
Paper finds incorporating capital-market inflation expectations improves model
No new Bretton Woods: Ex-BIS head
Former general manager of Bank for International Settlements says world now too pluralistic
Draghi moves to clarify Greek-swap role
Bank of Italy governor not involved in under-fire Greek swap deals; moves to justify Italian transactions
IMF to sell gold in the market
Fund’s move comes after offer of sale to central banks
Plosser defends regional Feds’ rate-setting role
Regional Fed presidents’ votes help link monetary policy with Main Street
ECCB sued by Stanford investors
Eastern Caribbean Central Bank faces class-action from investors who allege the value of Bank of Antigua, seized by the central bank last year, is rightfully theirs
Switzerland delays new banknote series
Swiss National Bank says move made on back of security concerns
Bank of Greece - Bond market update (January)
Greek central bank says government bonds gained in price in the big markets last month, but lost in the smaller eurozone countries, transaction volumes soar with a majority of sell orders
Fed’s Hoenig flags independence threat from fiscal burden
Sole dissenter points to German hyperinflation and Fed’s kowtowing to Congress over Vietnam and Great Society as signs central bank could act on political pressure
Libya opens doors to foreign banks
Libyan central bank welcomes overseas institutions interested in setting up a subsidiary, says ongoing reforms and strong economic performance offer great prospects for banks
Argument for QE hold “finely balanced”: Bank
Bank of England’s Monetary Policy Committee all backed decision to pause on QE, but for some vote a close call
Price-level targeting: a new monetary approach
As criticism of inflation targeting grows, economists and central bankers are taking a closer look at price-level targeting as an alternative. Malan Rietveld reports