Central Banks
RBA upholds interchange fee freeze
Reserve Bank of Australia keeps interchange fees regulate, saying industry has not sufficient progressed in increasing the competition
Gudmundsson on Iceland’s collapse and recovery
Már Gudmundsson, the governor of the Central Bank of Iceland, discusses the authority’s rebuilding efforts and whether euro membership is right for them
Trichet: asset prices impact policy
European Central Bank’s Jean-Claude Trichet says that asset-price dynamics impact the central bank’s policy decisions
Inflation forecasting for a changing world
Norges Bank develops new model suitable for real-time inflation forecasting
Monetary policy needs financial analysis
European Central Bank says globalisation of financial markets over the past 25 years has had major implications for the conduct of monetary policy
Emerging-market shocks have mixed results on US assets
Bank of England looks at international financial transmission between emerging and mature markets
Bernanke nominated for second term
President Obama wants Bernanke to serve second four-year term after staving off a financial meltdown
Bank’s Bean: give us some credit
Bank of England deputy governor Charlie Bean says economists must put credit back into economics in a “meaningful” way
Nigeria downgraded on banking, fiscal fears
Standard & Poor’s lowers Nigeria’s sovereign credit ratings on concern over fiscal flexibility on back of bank bailout
How to set up a sovereign wealth fund: an IMF primer
The International Monetary Fund guides on policy and operational considerations in setting up a sovereign wealth fund
Clearing and settlement not keeping up: SNB’s Hildebrand
Swiss National Bank’s Philipp Hildebrand says system must develop apace to reflect innovation
Israel becomes first to raise rates
Bank of Israel tightens on signs economy is recovering
Union boss named New York Fed chair
Denis Hughes gets the nod to head board of governors, Lee Bollinger named deputy
Fischer heralds shift to “flexible” inflation targeting
Bank of Israel’s Stanley Fischer tells Jackson Hole audience that inflation targeting will survive the crisis. More downbeat on global imbalances
Hungary cuts to pre-IMF bailout levels
National Bank of Hungary chops half a point off key rate
Canada’s Carney backs price-level target
Bank of Canada’s Mark Carney says maintaining economic stability may require rethink on monetary policy
Fed’s Madigan: five lessons for crisis management
Federal Reserve’s markets chief Brian Madigan says Walter Bagehot’s central tenet remains relevant
Modellers should care what the weatherman says
Norges Bank says macro modellers should seek inspiration from weather forecasters
Chile’s De Gregorio on reform
Central Bank of Chile’s Jose De Gregorio says financial reforms should target incentives of financial intermediaries’ management