Central Banks
IMF paper on lending resumption after default
The IMF Working Paper "Lending resumption after default: Lessons from capital markets during the 19th century" mines the experience of capital markets during the 19th century to propose an alternative way of interpreting international default episodes.
The Old Lady can afford to be patient
According to this article by the Financial Times, published on Wednesday 2 August, there is a big difference between the predictability of the ECB's plans on Thursday, and the uncertainty surrounding the Bank of England's decision the same day.
BoJ will raise rates at slow pace
Bank of Japan policy board member Atsushi Mizuno said Wednesday 2 August that the central bank will raise short-term interest rates at a "slow" pace while cautiously watching economic and price situations.
Counterfeiters finally crack the Euro note
According to this article published on The New Zealand Herald's website on Wednesday 2 August, the amount of counterfeit currency discovered in the 12 euroland countries is now running at 600,000 notes a year - roughly the same as before the single…
Gono's monetary policy unsound and ineffective
According to this article published by the NewZimbabwe website on Tuesday 1 August, the Zimbabwean economic meltdown is rooted in a crisis of political governance and legitimacy.
Malaysia appoints three new assistant governors
Bank Negara Malaysia announced Wednesday 2 August the appointment of three additional Assistant Governors, Dato' Mohd Nor bin Mashor , Puan Lillian Leong Bee Lian and Encik Gopala Krishnan Sundaram, effective immediately.
Glenn Stevens appointed governor of the RBA
Australian Treasurer Peter Costello announced on Tuesday 1 August that Glenn Stevens has been appointed governor of the Reserve Bank of Australia for a term of seven years, with effect from 18 Sep.
Australia bank chief faces a tough debut
According to this article by Reuters, published Tuesday 1 August, new RBA governor Glenn Stevens is likely to upset politicians and Australia's heavily indebted homeowners, with his chief concern the control of inflation.
Greenspan ghost writer gives memoirs 'pace'
Dame Marjorie Scardino, chief executive of Penguin's parent company Pearson, said Monday 31 July that Alan Greenspan had agreed to allow a ghost writer to help to "make [his memoir] more pacey - because Alan is an academic".
Comment: Has Trichet's gambit paid off?
The ECB heads into this week's monetary policy meeting with markets fully expecting a 25 basis point hike. Has the decision to have an unscheduled meeting, which effectively pre-announced the decision, changed the prospects for the course of eurozone…
Bank of Italy adopts new statute
The Bank of Italy has approved a new statute proposed by governor Mario Draghi, La Stampa reported Friday 28 July. One new measure will see the directorate increasing from four to five members.
RBA's McKibbin reappointed for five years
Australian Treasurer Peter Costello has reappointed professor Warwick McKibbin to the board of the Reserve Bank of Australia for a second five-year term beginning Monday 31 July.
New Zealand's new coins go into circulation
Smaller, lighter 50, 20, and 10 cent coins were released Monday 31 July in New Zealand. The new coins retain the same "heads" and "tails" designs but the 10 cent coin is copper-coloured, the RBNZ said.
IMF to appoint Jonathan Palmer to new CIO role
Rodrigo de Rato, Managing Director of the International Monetary Fund (IMF), announced Wednesday 26 July his intention to appoint Jonathan Palmer as Chief Information Officer (CIO) of the IMF and Associate Director of the Fund's Technology and General…
Mishkin to be sworn in after Aug 8 Fed meeting
Federal Reserve Governor-designate Frederic Mishkin will not take office in time to participate in the next Fed policy-setting meeting on 8 August, a Fed spokesman told Reuters on Thursday 27 July.
Cen bank reserve shifts not all that meets the eye
This article published Thursday 27 July by Reuters says a close look at IMF reserve data, and the dollar's moves in recent years, suggests central banks may not be undertaking conventional reserve diversification.
Central banks need not divine bubbles
According to this article by Samuel Brittan of the Financial Times, published Friday 28 July, the question of whether central bankers should target asset prices will not go away.
China official mulls freer hand for central bank
According to this article from the Financial Times, published Friday 28 July, a People's Bank of China official has suggested policy making could be more effective if the central bank had more autonomy.
Kohn says Fed policy lags may be shorter
The communication of interest-rate moves during the Fed's latest tightening campaign may mean their impact on the economy will be felt more quickly than otherwise, a top Fed official said in a letter released on Friday 28 July.