News
Dollar reserves dip
Latest Annual Report from the International Monetary Fund shows official sector shifting into euro, yen
Recovery underway, but risks remain – IMF
Global Financial Stability Report cuts financial loss projection
Fed outlines tougher cards regime
Federal Reserve proposes changes to Regulation Z to protect consumers
Bank’s Miles confident on quantitative easing
QE working and will end when circumstances dictate, says MPC member
RBA’s Richards bemoans housing shortage
RBA’s head of economic analysis says undersupply could cause prices to rocket
Wanted: paranoid and unpopular central bankers
Panel says central bankers must look for risk everywhere and be prepared to implement unpopular policies to prevent the next crisis
We won’t shore up money markets indefinitely: Trichet
European Central Bank president says its too early to exit, but warns “exceptional measures” must be phased out
IMF set to upgrade 2010 growth forecast
Deputy managing director Murilo Portugal says global recovery is stronger than expected
Hong Kong’s future intertwined with renminbi: Yam
In his farewell address, Hong Kong Monetary Authority’s Joseph Yam says the financial centre’s future is linked with liberalisation of the mainland
Bundesbank caps gold sales for next year at 6.5 tonnes
Germany’s central bank limits gold sales for the next twelve months at 6.5 tonnes under Central Banks’ Gold Agreement
Malaysia, Hong Kong pledge to develop Islamic finance
Malaysia’s central bank signs memorandum to develop Islamic finance with Hong Kong’s Monetary Authority
Fed will fail to land systemic risk role, Zoellick predicts
World Bank’s Robert Zoellick says Fed will not get systemic risk role, moots Treasury. Sees renminbi, euro strengthen reserve status
G20 pledges to tackle imbalances
Global imbalances take precedence over regulation in regulation in communiqué
Bank publishes payments oversight rules
Bank of England extends Core Principles in checklist for how payments systems should be run post-crisis
Volcker: narrower role would make Fed too detached
Paul Volcker says removing supervision from Fed’s ambit would risk turning central bank into “academic seminar”
Fed audit would damage economy: counsel Alvarez
Federal Reserve lawyer defends central bank against lawmakers’ attempts to scrutinise its monetary operations
IMF should move to Europe: ex research head
Simon Johnson suggests switching headquarters to Europe as means to break deadlock on quotas
Geithner optimistic on China boosting demand
US Treasury secretary Tim Geithner says China’s commitments “credible” on boosting domestic demand
Fed decision depresses markets despite positive outlook
Federal Open Market Committee sees improvement in economy, but its decision to slow purchases of mortgage-related debt hits confidence and divides analysts
Iceland cuts overnight rate, looks ahead to removing capital controls
Icelandic Monetary Policy Committee votes to cut only overnight lending rate, cites “encouraging signs”
Central banks to extend dollar swaps past October
Bank of Japan, European Central Bank, Bank of England and Swiss National Bank provide schedule for dollar operations into 2010
Bank to hold seminar to clarify QE
Bank of England invites economists and the press next week to mark six months since the start of bond purchases, denies “crisis” meeting
Denmark makes third cut in six weeks
National Bank of Denmark shaves a tenth of a percentage point of key rate
European Commission finalises regulatory fix
Commission unveils reform agenda, as proposed by De Larosière report