News
BoE has 'space' to opt for more quantitative easing: deputy prime minister
Bank of England must independently decide on whether to introduce more quantitative easing, says deputy prime minister Nick Clegg; issues stark global economy warning
Non-cash payments growth slows
World Payments Report 2011 finds slower growth in non-cash payments; key regulatory and industry initiatives are combining to gradually transform the payments landscape
BoJ prepared to react to strengthening yen, says Miyao
Bank of Japan policy board member Ryuzo Miyao says central bank stands ready to stem deflationary pressures resulting from rising yen
Philippines appoints new Monetary Board member
Armando Suratos is new member of Monetary Board; replaces former finance secretary Juanita Amatong
US lawmaker presses for change to FOMC voting system
Congressman Barney Frank to introduce bill that calls for replacement of regional Fed presidents on FOMC with four external members; calls Fed presidents a "self-perpetuating" group
HKMA’s Chan happy with pace of renminbi internationalisation
Norman Chan accepting of need to test the offshore market with step by step internationalisation of renminbi; urges banks to get ready for trade using Chinese currency
Posen calls for UK version of Fannie Mae
Bank of England MPC external member Adam Posen says establishment of government-sponsored entities would make up for credit short fall in lending markets; calls for immediate quantitative easing
First regulatory co-operation council meeting held in New Zealand
Council of Financial Regulators meets; confidential discussions focus on identifying trends and issues and co-ordinating responses to them
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