News
Kazakhstan latest to step away from dollar
The National Bank of Kazakhstan, which has seen foreign currency reserves drop sharply, shifts towards euro on fears over the dollar’s weakness
Abu Dhabi bails out Dubai
Richest emirate agrees to provide $10 billion to Dubai World; central bank to support local banks
Carstens likely to replace Ortiz as BIS chair
Guillermo Ortiz will step down as chairman of the Bank for International Settlements’ board if he leaves the Bank of Mexico
Nobel laureate Paul Samuelson dies at 94
Paul Samuelson, a key figure in the development of economics, passes away at home in Massachusetts on Sunday
Bubbles a bigger threat than inflation: HKMA’s Chan
Hong Kong Monetary Authority’s Norman Chan sees irrational exuberance as greater risk than spiralling prices
Imbalances must be addressed: Trichet
ECB president Trichet points to imbalances in emerging Asian countries and stresses importance of Europe-wide and international cooperation on macroprudential supervision
Ecuador chief and general manager quit
Upheaval at the top of the Central Bank of Ecuador sees Carlos Vallejo and Karina Sáenz depart; cabinet minister Diego Borja is named new governor
British regulator calls on banks to step up stress tests
British financial regulator beefs up stress test rules; calls on banks to examine business models
Old mortgage model is dead: Fed’s Duke
Federal Reserve’s Elizabeth Duke warns of the ghost of homeownership yet to come
Rate decisions this week
Korea, New Zealand hold but indicate tightening soon to come. Bank of England and Bank of Canada maintain policy stance, along with Peru and Brazil as Denmark and Iceland cut
RBI’s Subbarao pushes for financial inclusion
Reserve Bank of India’s Duvuuri Subbarao wants all villages with more than 2,000 people to have a banking outlet by early 2011
America can learn from us: Uganda’s Tumusiime-Mutebile
Bank of Uganda’s governor says risk-based supervision saved the country’s banks; reinforces the importance of open-market principles for the economy
Iceland cuts on further signs of stability
Central Bank of Iceland continues with “gradual” easing as currency stabilises
SNB steps towards exit
Swiss National Bank announces end to credit easing
Ireland creates senior posts
Central Bank & Financial Services Authority of Ireland announces new roles as part of regulatory shift
Basel Committee reaches agreement on liquidity and counterparty risk
Two-day gathering results in progress on new rules
CentralBanking.com panel: it’s too soon to exit
Charles Goodhart, Paul Mortimer-Lee, Lucrezia Reichlin and Gabriel Stein concur that dangers are greater from exiting too early than too late but warn that asset prices risk becoming over inflated
Former Jamaican governor attacks PM
Recently resigned governor Derick Latibeaudiere says PM has shown a lack of respect
Mexican finance minister nominated to head central bank
Guillermo Ortiz set to step down after 12 years at the helm of the Bank of Mexico
Czech’s Tuma accuses IMF, EBRD over CEE comments
Czech National Bank governor says multilateral organisations failed to differentiate between central and eastern European countries at the height of the crisis
Greece downgraded; remains on negative watch
One of the big-three ratings agencies downgrades Greece and keeps outlook on negative
China to maintain “moderately loose” policy
People’s Bank of China indicates rates will be kept low for some time to support growth and stability; statement echoes the pledges of central economic conference
Korea labels gold rush illusory
Bank of Korea’s head of reserves management looks to downplay surge of central bank interest in bullion
Packed agenda awaits Basel Committee at crunch meeting
Uncertainties abound ahead of key gathering