News
Bank’s Posen stoutly defends ECB bond purchases
Bank of England rate-setter Adam Posen slams critics who claim bond purchases will impinge upon central bank’s independence; says given low interest rates, bond purchases are essential monetary policy tool
HKMA flags potential for asset-price bubble from renminbi appreciation
Hong Kong Monetary Authority study suggests currency’s appreciation may have significant effects on asset prices
Sarb’s Mokate to exit after not securing new contract
South African Reserve Bank deputy governor Renosi Mokate to leave central bank after her five-year term expires
Bank of Japan details direct lending programme
Central bank outlines $33 billion quasi-fiscal programme to support economic growth; analysts say measure is a political gesture
Watch funding gaps, BIS warns Europe
European banks still have significant dollar funding gaps, leaving them vulnerable to foreign exchange shifts
Iraq central bank bombing leaves 15 dead
Suicide bombers and gunmen target Iraqi central bank; attack thought to be part of a series of robberies and heists orchestrated by Sunni insurgents
Carlos Costa replaces Constâncio at head of Bank of Portugal
Former EIB vice president Carlos Costa is sworn in as governor after Vitor Constâncio takes ECB deputy spot
Buba’s Sarrazin renews racism controversy
Bundesbank executive board member Thilo Sarrazin says Germany is getting “dumber” because of Turkish, Middle Eastern and African immigrants; comments follow similar remarks last year and intensify calls for his removal
UAE’s Al-Suwaidi says economy will grow 4% in 2010-11
UAE central bank governor Al-Suwaidi says growth will be 4% despite recent volatility in oil prices; substantial increase on IMF forecasts
External debt could prove perilous: NZ’s Bollard
Reserve Bank of New Zealand governor Alan Bollard cautions that the country faces external debt imbalances; calls for deficits to be slashed below 5% of GDP
Korea's Kim joins push for update to central banks' mandates
Bank of Korea governor Kim Choong-soo calls for rethink on attachment to price stability; says central banks should be equally observant of financial stability
Wellink says Basel III to be phased in gradually in bid to soothe fears
Basel Committee chairman Nout Wellink says proposals on new regulations on banking will be introduced in an orderly manner; unrepentant on costs to growth
Kohn to remain at Fed until September
Vice chairman to stay on as governor until Congress appoints replacement
Bank of Italy economists propose fix for interbank stresses
Director of economic outlook and monetary policy department, and senior economist at Italian central bank say fix could alleviate liquidity strains
UK FSA risk chief Dewar resigns
Financial Services Authority's head of risk Sally Dewar will leave the role in May 2011 as uncertainty persists over the regulator's future; Dewar to follow chief executive Hector Sants
Belka approved as Polish central bank head
Former prime minister and finance minister Marek Belka gets Polish parliament's approval to take over as central bank chief; emphasises importance of zloty stability
Foreign holdings of US Treasuries slide after two weeks of gains
Data show holdings of US Treasuries by foreign central banks with accounts at the Federal Reserve declined this week, cancelling out two week of gains
Market tensions prevail, Trichet warns
ECB president says financial sector still shows signs of stress despite the success of the central bank’s bond purchase program
Shilling weakened after Kenya bought euros, say analysts
Analysts link recent weakness in Kenya’s shilling to euro purchases by the central bank
Bank to answer to former EBRD economist
Andrew Tyrie to chair influential group of lawmakers charged with monitoring work of the Bank of England
CNB’s Tůma denies reports he will head EU systemic risk board
Governor Zdeněk Tůma parries claims in Czech daily that he would be the founding head of the European Systemic Risk Board
Print more $2 bills, Taco Bell tells Fed
Marketing gimmick calls on customers to “appeal to” Fed to print more $2 notes
Basel III will cost 9m G3 jobs by 2015, say banks
Institute for International Finance report estimates will lead to euro area growth being 4.3% lower in five years’ time
Irish CB “taking action” to fix flaws, says governor
Governor Patrick Honohan tells CentralBanking.com the institution is rectifying cultural and structural problems flagged by his report into central bank’s pre-crisis performance