News
Obama picks Yellen for Fed vice-chair
US President confirms speculation by nominating San Francisco Fed chief Janet Yellen as central bank’s deputy head, economist Peter Diamond and state regulator Sarah Raskin proposed for the board
Japan to make 'new efforts' to boost growth
Bank of Japan introduces new pledge to help lay foundations for strong growth, says it will set up temporary facility to support lending to business
Central bankers split on raising inflation targets: poll
CentralBanking.com poll shows a slim majority think raising targets to 4% is a bad idea, while nearly 44% approve to some extent
Capital ratio hikes 'not appropriate' for South Africa
South African Reserve Bank says lenders already hold more than necessary and further hikes will only hit profits; deputy governor Guma flags work on macroprudential framework
Buba’s Weber chastises 'counterproductive' stalling on Greece
Bundesbank president Axel Weber calls for swift action to move forward as Standard & Poor’s downgrades Spain in further sign that Greek crisis is spilling over to neighbouring countries
US senators finally agree to reform debate
Having blocked discussions from Monday to Wednesday, Republican senators agree to let disputed regulatory reform bill be debated
Rate round-up: Brazil hikes, most hold, Russia cuts
Brazil raises policy rate to 9.5%, Russia cuts to 8.25%; United States, Poland and New Zealand hold
Election uncertainty clouds future of FSA, Bank
Regulator could be swallowed by central bank if Conservatives win, but polls and analysts divided on most likely outcome
S&P’s Greek downgrade puts collateral issue back on agenda at ECB
Standard & Poor’s downgrades Greece’s debt to junk, the implications mean collateral would be ineligible at the European Central Bank if Moody’s and Fitch followed suit
Republicans propose end to Fed's quasi-fiscal activity
Senate Republicans leak alternative regulatory proposals calling for an end to Fed’s involvement in shoring up broad sectors, central bank cannot lend to firms with solvency problems under plans
Provopoulos: Greece must regain competitive edge
Bank of Greece governor tough on reform; calls for a break from the past
Incoming party renews efforts to topple Hungary’s Simor
Political heat on National Bank of Hungary governor András Simor intensifies as deputy chief of soon-to-be ruling party calls for his resignation
Trichet to rally German support for Greek bailout
European Central Bank president Jean-Claude Trichet expected to urge German lawmakers to stop dragging their feet over the Greek bailout, markets suffer as uncertainty persists
Fed advice cited in Senate vote against reform bill
Regulatory reform bill falls short of votes required for debate, Republican senator cites message from Fed staff criticising last-minute derivatives provisions
Ireland sets pace with governance reform proposals
The Central Bank and Financial Services Authority of Ireland release proposals to end poor practices at financial institutions
Subbarao moots Tobin tax to curb capital inflows
Reserve Bank of India governor Duvvuri Subbarao says all options on the table as it attempts to act on investment influx
Portuguese rating takes double-notch beating
Standard & Poor’s downgrades long-term rating to A- and short-term rating to A-2 on concerns over deteriorating macroeconomic environment, credit default spreads stretch further
Developing countries gain more leverage in World Bank restructuring
Historic package gives developing countries more say in international policy
Hungary cuts as critical opposition sweep to power
National Bank of Hungary trims rates by 25 bps as opposition election victory puts central bank on collision course with incoming government; former governor expected to be named finance minister
China must choose either stable prices or currency: PBoC adviser
Newly-appointed Chinese central bank adviser Zhou Qiren says the central bank cannot have a dual mandate of price and exchange-rate stability
Ex-Sarb Governor Mboweni joins Goldman Sachs
Former South African Reserve Bank governor Tito Mboweni becomes the latest former official to join the investment bank
Israel welcomes new law, no sign of rate-setters yet
Bank of Israel law creating a six-member Monetary Committee officially passed and governor Stanley Fischer thanks those who contributed, government has not yet begun search for external members
Shirakawa slams inflation-targeting 'fixation'
Bank of Japan governor blames single-minded use of inflation targets for the growth of credit bubbles, says price levels alone do not show health of the economy
Poland succumbs to political pressure and pays more into state coffers
National Bank of Poland could pay almost twice the amount originally offered