Central Banks
Bank pushes for corporate-debt expansion
Senior Bank of England officials want greater role for debt markets to enable smaller companies to bypass banks for funds
Kenya cuts by 75 basis points
Central Bank of Kenya chops three-quarters of a point off benchmark rate
Trade groups join forces to boost SEPA mobile payments
Mobey Forum and European Payments Council to cooperate in bid to increase use of mobile payments
Take time to revise international financial architecture
Central Bank of Argentina believes reform of international financial architecture can wait until crisis abates
UAE’s banks liquid since April: Al-Suwaidi
Central Bank of United Arab Emirates’ Sultan Bin Nasser Al-Suwaidi describes measure that helped the country to weather spillovers from turmoil
DSK: to counter carry trade EMEs must act
Managing director of the International Monetary Fund places onus on emerging economies; advocates capital controls as part of toolkit to counteract dollar carry trade
Base countercyclical provisioning on expected losses
Bank of Italy looks at Spanish dynamic provisioning
Bank paper outlines macroprudential tools
Bank of England discusses possible forms of countercyclical capital buffers; highlights potential problems
Israel makes surprise hike on inflation fears
Bank of Israel’s Fischer raises key rate to 1% from next month; cites a jump in inflation expectations even with rate hikes factored in
Hungary shaves by 50 bps as expected; widens rate corridor
National Bank of Hungary cuts key rate to 6.5% as indicated; widens rate corridor citing better market conditions
Richmond Fed details presidential promotions
Regional Federal Reserve makes four promotions to vice presidential level or above
South African Reserve Bank - Monetary Policy Review
SARB report explains that downside risks to inflation from poor output and expenditure figures underpinned rate cuts between May and August
RBA subsidiary chief ousted in graft probe
Managing director of polymer manufacturer Securency stands down as investigation reveals whistleblowers’ bribe claims ignored; offices and homes raided
Norway enables account holders to switch bank in seconds
Finance ministry ruling paves the way for technology that will make Norway the first country to allow customers to change accounts with ease
House committee backs Fed audit bill
House Financial Services Committee backs Ron Paul’s call for greater powers to audit the Federal Reserve; Barney Frank attempts block
ECB’s Bini Smaghi urges emerging Asia to hike rates
European Central Bank executive board member calls on region to recognise that it should be the first to tighten policy
Accounting overstates banks’ health: IMF paper
International Monetary Fund research finds banks not as healthy as their balance sheets suggest
Roth praises SNB’s monetary policy
Swiss National Bank’s Jean-Pierre Roth says the central bank has fulfilled its mandate for the past decade
Turkey trims by quarter point
Central bank sticks to October hints by reducing size of cuts; OECD and government data show growth will pick up but unemployment still high