News
ECB extends swap line agreement with BoE
The Bank of England and European Central Bank prolong swap line; new end date is September 28
Foreign central banks pile into Swedish government bonds
Central banks acquired 49% of the latest sale of government debt issued by The Swedish National Debt Office.
Costa Rica gold museum set to reopen
Central Bank supports $686,000 electrical upgrade; gold museum will reopen on September 3
Gaddafi may escape with central bank gold, says ex-Libyan governor
Former governor of the Central Bank of Libya Farhat Bengdara says Gaddafi may have run off with billions of dollars worth of gold; says Libyan leader attempted to sell bullion as bribe for security
Canada’s Macklem encourages G-20 action to avoid another ‘calamity’
Bank of Canada senior deputy governor, Tiff Macklem, urges G-20 to pick up the pace of reform
Sarb’s Marcus calls for unified commitment to recovery from Western leaders
South African Reserve Bank governor Gill Marcus says lack of confidence and trust leadership in US and Europe has undermined the global recovery
Nepal launches polymer banknote graft investigation
Parliament demands report from finance ministry and Nepal Rastra Bank; latest country to delve into Australian companies' discrepancies
BoE's Weale explains rate-raise vote change
Martin Weale explains decision to vote to hold rates; admonishes low UK savings records and discusses future monetary policy responses
Speculation intensifies over Bernanke's forthcoming Jackson Hole speech
Markets will be looking for signs of a third round of quantitative easing ahead of Fed chairman Ben Bernanke’s much anticipated speech at Jackson Hole, Wyoming, writes Blair Baker
Payments Council lambasted over cheques plan
Treasury Select Committee leaves damning verdict over Payments Council's original decision to abolish system for cheque clearance; says industry-led body should be more heavily regulated in future
Japan moves to halt yen gains with new facility
Japan’s finance minister Yoshihiko Noda reveals plans to set up $100 billion facility that will encourage companies to exchange yen for foreign currency assets
EBA to publish governance and op risk guidelines in September and October
EBA op risk specialist Bernd Rummel says the new European body has a busy schedule of work to implement CRD IV
Allan Meltzer awarded Truman Medal
American economist Allan Meltzer to become only the fourth person to receive the distinguished Truman Medal for Economic Policy
EU no-bailout rule must be strengthened, says Buba
German Bundesbank says eurozone bailout reduces incentive to commit to sound fiscal policy; calls for strengthening of no-bailout rule in EU treaty
PboC adviser calls for urgent reform in the West
People’s Bank of China adviser Li Daokui says Europe and the US must introduce further reforms to address their chronic economic problems
Options traders braced for further SNB intervention
Demand has switched from downside EUR/CHF options to upside options in anticipation of further Swiss franc weakening measures from SNB, say senior options traders
CFTC repository rule won't save regulators from data leak bills, say European supervisors
The CFTC's attempt to protect non-US regulators from an indemnity clause in the Dodd-Frank Act will fail, European regulators fear
Austria’s Nowotny fears delay in ratification of EFSF
National Bank of Austria president Ewald Nowotny expresses concern that new European Financial Stability Facility powers will not be phased in by October
Gono warns government against ‘firing harmful, verbal economic gunpowder’
Gideon Gono says no intention to withdraw foreign banks’ licences; rebukes Zimbabwean government for issuing warning of nationalisation
ING’s Gupta: Yuan to become reserve currency in two years
ING Investment Management Asia’s CIO believes the yuan will become a reserve currency within the next two years driven by the ongoing debt problems in Europe and the US.
RBNZ admits policy response to housing bubble was 'too slow'
Reserve Bank of New Zealand says monetary policy was too slow to react to build-up in housing prices during 2000s
Asian Development Bank renews president’s term
Haruhiko Kuroda to remain as head of the Asian Development Bank for another five-year term
Venezuela’s Chavez orders diversification of reserves
Hugo Chavez has asked the central bank to repatriate gold reserves and diversify holdings amid “global crisis of capitalism”; controversial president also plotting to nationalise gold industry
Carney discusses handling of global debt crises
Testifying before the House of Commons Standing Committee on Finance, Carney discusses the handling of debt crises in both the US and the eurozone