News
South Korea advertises for new reserve manager
Bank of Korea seeks reserve manager; follows first gold purchase for years this summer
UK ring fence poses legislative challenges
ICB stops short of asking for complete separation of retail arm from investment operations; how the government will legislate on the proposals is still unclear
Germany names Asmussen as Stark’s successor
Germany’s finance minister, Wolfgang Schäuble, nominates his deputy Jörg Asmussen to replace Jürgen Stark on the European Central Bank’s executive board
BoJ minutes outline central bank's QE strategy
Bank of Japan minutes show boost in asset purchase programme aimed to influence longer end of yield curve; confirms intervention in yen foreign exchange markets
G-7 leaders pledge co-ordinated effort to tackle economic crisis
G-7 finance ministers and central bank governors say concerted effort will be made to co-ordinate action against global economic slowdown
Hong Kong regulator moves to authorise renminbi products under RQFII
Hong Kong regulatory platform ready to approve RQFII products; China’s central bank says priority to be given to Hong Kong-based subsidiaries of mainland banks and fund managers
Stark resignation marks turbulence at ECB
European Central Bank executive board member Jürgen Stark steps down as tensions flare in Frankfurt
Lagarde adds to pressure on G-7 meet
Lagarde calls for global action; Canada set to raise dissatisfaction with Swiss franc exchange rate limit at G-7 gathering in France
China moves closer to renminbi inclusion in SDR
Comments by Chinese officials hinting renminbi will be fully convertible by 2015 open door to inclusion of currency in IMF’s special drawing rights basket
Bernanke stays tight lipped on further stimulus
Ben Bernanke disappoints once again with bland speech; offers no hint of future stimulus
Carstens content with Mexican position
Governor of Mexican central bank says country is in a strong policy position; ready to act if global economy worsens
Philadelphia Fed replaces inaugural Economic Advisory Council members
Teresa Bryce Bazemore, Cheryl Feldman and Edward Graham named as new Economic Advisory Council members
Trichet reacts angrily to criticism
European Central Bank president Jean-Claude Trichet rejects attack by German politician on bond-buying programme; ECB and Bank of England both hold interest rates as global outlook worsens
The future of central banking: CB.com panel
Robert Pringle moderates a panel assessing the future of central banking in a post-financial crisis world
OECD asks central banks to hold rates
OECD asks for rates hold and revises growth forecasts downwards; chief economist says further QE in the US "could be appropriate”
Case for QE3 mounts as US economy weakens
Federal Reserve presidents Charles Evans and John Williams make case for further quantitative easing, as latest Beige Book report reaffirms slowdown in US economic activity
Libyan gold sold as Gaddafi regime ended
“Official” central bank assets safe, says new central bank governor; former dictator sold 29 tonnes of gold as opposition closed in
German courts stand by Greece bailout
Federal constitutional court rules Greece bailout as legal; clears way for establishment of eurozone bailout vehicle; says parliamentary budget committee must authorise future budgetary plans
Riksbank postpones rate hike on weaker global outlook
Riksbank votes to hold rates at 2% amid concerns over public finances abroad and deterioration in global growth; central bank revises downward repo path
Kohn calls for improved transparency for all
Donald Kohn calls for more information from banks; notes “considerable” resources and effort put in by Bank of England to better understand the market
Kazakhstan puts faith in gold
Governor announces central bank will buy entire domestic gold bullion output until at least 2014
Australian regulator moves to implement Basel III two years early
The Australian banking regulator proposes early implementation of Basel III capital and liquidity rules; draws immediate criticism from the Australian Bankers’ Association
Estonia governor race narrows
Supervisory Board cuts two candidates from the running; Ardo Hansson and Andres Sutt continue in battle to become next governor
SNB faces battle to maintain franc currency floor
Swiss National Bank pledges to set minimum euro exchange rate at Sfr1.20; analysts express concern over central bank’s ability to maintain exchange rate floor