Central Banks
Peru’s Velarde’s plays down BRIC currencies
Central Reserve Bank of Peru’s Julio Velarde on the future of the international monetary order
Turkey’s Turhan: globalisation needs legislative underpinning
Central Bank of Turkey’s Ibrahim Turhan on global economic order
China not sheltered from subprime
International Monetary Fund says China’s stock market is affected by the US subprime crisis
Fed extends Talf programme
The Federal Reserve extends key loan facility for asset-backed securities, soothing market concerns
UK delivers inflation surprise
United Kingdom’s July inflation figures show prices rose more than expected, but sharp decline predicted in coming months
Weber and Sanio fight back on HRE rescue
Bundesbank’s Axel Weber and BaFin’s Jochen Sanio say they did not mislead the public in the rescue of Hypo Real Estate
Northern Rock drops debt repayment
Northern Rock drops payment on part of its subordinated debt
Sri Lanka shocks with rate hold
Central Bank of Sri Lanka surprises market with unchanged rates
South Africa to implement new reserves policy: Guma
South African Reserve Bank’s Xolile Guma on central bank’s role as wealth managers
Zambia’s Fundanga: media key in monetary policy
Bank of Zambia’s Caleb Fundanga says media critical in the successful execution of monetary policy
India’s Mohan: regulation to tackle procyclicality of banks funding
Reserve Bank of India deputy governor, Rakesh Mohan, says reliance on short-term wholesale market funding increased the sensitivity of banks' balance sheets and cost of funds
Flexible exchange rate better for welfare
Bundesbank investigates the welfare ranking of exchange rate regimes
BoE's Sentance sees recession ending soon
Bank of England’s Andrew Sentance sees recovery in UK and global economies, with Asia at the forefront
Rodrik: Fed needs paradigm shift
Harvard economists argues the new Fed chairman has to be less in awe of Wall Street
Meirelles comments on future, bank lending
Central Bank of Brazil’s Henrique Meirelles comments on rumours of a return to politics and backs the actions of state-led banks
Nigeria suspends trading in troubled banks
Nigerian authorities suspending trading in troubled bank shares and look to foreign investors to restore health
Pakistan cuts against Fund advice
State Bank of Pakistan cuts rates, against International Monetary Fund advice, as inflation slows
Yuen named new HKMA deputy
Arthur Yuen succeeds Y.K. Choi as the Hong Kong Monetary Authority’s stability deputy in the new year