Central Banks
Rogoff predicts wave of sovereign defaults
Greece will not be the only country to face threat of bankruptcy, ex-IMF chief economist Kenneth Rogoff warns
Bank of Japan – Minutes (25 and 26 Jan)
Minutes of the Japanese central bank’s most recent policy meeting show members felt December measures had heightened effectiveness of policy easing, cabinet representatives emphasises achieving positive inflation as soon as possible
Bank of England – Trends in Lending (February)
Bank report shows lending to businesses, home buyers and consumer remains constrained
Fiscal cuts must precede monetary tightening: IMF
International Monetary Fund notes fiscal consolidation is by far the biggest concern; suggests central banks maintain large balance sheets for time being
Harare will keep multi-currency system till 2012: minister
Economic planning minister says the country will continue using the rand, dollar and pula among others for the time being
Bank had different objectives with corporate bond purchases: Fisher
Bank of England’s executive director for markets Paul Fisher says the central bank’s asset purchase facility has achieved what it set out to do
Uganda’s Kaskende: help us prepare for reform
Bank of Uganda deputy says firms must pave way for change with new reporting standards
Bank of Canada Review (Winter)
Winter edition of bulletin contains articles on inflation persistence, capital flows in emerging markets and the accessibility of banknotes
Fed presidents play down discount hike
Regional Fed presidents William Dudley, Dennis Lockhart and Janet Yellen deny that rise in discount rate equates to the end of accommodative policy
Hungarian rate falls to record low
National Bank of Hungary rate-setters slice a quarter point off key rate, now at all-time low
Mauritius’ deputy standing in as governor faces probe
Yandraduth Googoolye acting governor at Bank of Mauritius as former head faces parliamentary enquiry into allegations of abuse of power
Jordan cuts to boost growth
Jordanian central bank shears half a percentage point off its key overnight deposit rate to stimulate the flagging domestic economy
Greece dumps debt management chief
General manager of treasury and global markets at National Bank of Greece named new head
Fed’s discount rate hike jolts markets
Federal Reserve firms exit strategy by lifting the rate at which it lends to banks by a quarter percentage point, markets teeter
Towards a new framework for monetary policy
Jacques de Larosière argues that monetary policy played a major role in the run-up to the financial crisis and that a new operational framework is needed
Real-estate poses threat to recovery: Minneapolis Fed’s Kocherlakota
Minneapolis Fed president Narayana Kocherlakota echoes recent comments from other regional Fed leaders in his first speech, says recovery will be slow
Bank of Uganda – Financial Stability Report
Ugandan central bank publishes inaugural report detailing the health of the financial sector and documenting policy moves taken to combat the crisis
Corporate bond activity booming in Singapore: MAS executive director
Monetary Authority of Singapore executive director Kola Luu says the island is considered a gateway to major markets in South and East Asia
Balance sheet policy and money market liquidity: SARB paper
South African Reserve Bank paper says balance sheet policy must be thought of in the same way that interest rates are regarded