News
Deficits set to stay sky-high despite growth revival, warns Fund
IMF says deficits worldwide will fall by less than expected in 2010, in spite of improved growth prospects; developed economies worst offenders
NBB’s Praet backs DG Competition for EU resolution authority
National Bank of Belgium’s Peter Praet says Directorate General for Competition could play credible role in resolving failed banks
Emerging Europe keen on euro despite Greek debt woe
Central and Eastern European countries remain drawn to the single currency despite Greek troubles
Albania accused over hotel deal: reports
Albanian central bank buys country’s oldest hotel from government, opposition politician reportedly alleges misconduct
SNB records $1.3bn profit for first quarter
The Swiss National Bank’s has reported a quarterly net profit of Sfr1.5 billion for the first three months of the year
BoK bristles at government presence during rate-setting vote
Bank of Korea governor Kim Choong Soo calls for change in government involvement in monetary-policy meetings; tensions threaten to escalate into full-blown row
Volcker dismisses prop trading criticism
Former Federal Reserve chairman Paul Volcker sweeps aside concerns that banks might not be able to differentiate between trading on their own books and on clients' behalf
Fed extends streak, keeping state bank oversight
US Senate amends Dodd bill, allowing Fed to keep supervision of state banks, vote hailed by Kansas Fed chief Thomas Hoenig
SARB points to pitfalls of exchange rate rigidity
South African Reserve Bank keeps rates flat as inflation outlook remains steady, advisor says exchange rates an important policy tool
Bangladesh Bank gets $250m for infrastructure project
Bangladeshi central bank will administer loan from World Bank to support infrastructure investment
Czech fury at ECB negative capital view
Czech central bank objects to ECB's denigration of negative capital in its Convergence Report
King throws weight behind new government's cuts
Bank of England governor Mervyn King says incoming coalition government's plans to cut UK expenditure by $9 billion in 2010 have eased downside risks to growth
UK coalition gives Bank lead regulatory role
Conservative and Liberal Democrat parties agree to put Bank of England at the centre of financial regulation on Wednesday, stop short of abolishing FSA
Agency didn't follow its models on CDO ratings
A leading rating agency gave triple A ratings to CDO tranches when their own models implied downgrades
ECB will not sell eurozone bonds: Stark
European Central Bank rate-setter Jürgen Stark says eurozone bonds will be held to maturity, rebuts suggestion that central bank was leant on by governments to buy debt
Regulators set out policy agenda for OTC derivatives infrastructure
CPSS and IOSCO issue consultative reports on central counterparties and trade repositories
Cracks emerge over ECB’s bond purchases
Bundesbank head and ECB leadership candidate Axel Weber criticises central bank’s entry into bond markets, analysts disagree on whether intervention justified
Fed audit clause unanimously approved for reform bill
US lawmakers vote 96-0 in favour of including controversial amendment to audit the Fed in financial sector reform bill
Estonia poised for euro entry, exports lead recovery
Bank of Estonia sees output helped by export upswing the day before Brussels decides on euro accession
Bank of Canada launches new commodities index
Bank of Canada replaces old fixed-weight measure with new Fisher chain index of Canada’s commodities market
Europe gambles to save currency union
Markets surge as European Central Bank changes course and commits to buying government bonds, move comes as eurozone and IMF unveil trillion-dollar support package
Philly Fed's Plosser: Fed acted on contagion fear
Philadelphia Federal Reserve's Charles Plosser says swap lines were re-opened on concern over impact of eurozone debt crisis on US banks
SNB’s Hildebrand vows to fight franc appreciation
Swiss National Bank chief Philipp Hildebrand says the eurozone’s debt troubles will not be allowed to trigger deflation in Switzerland
Alamsyah claims deputy spot at Bank Indonesia
Former research director Halim Alamsyah wins close vote to replace Siti Fadjriah as deputy governor at Bank Indonesia