News
Kenya addresses currency concerns
Central Bank of Kenya to expand number of commercial banks with access to foreign currency window in bid to end speculative trading
Fed less positive but leaves rate unchanged
FOMC statement less optimistic than last month's; in second-ever press conference, chairman Bernanke faces questions on Greece
Chile governor warns on Europe and US
Central Bank of Chile governor says Europe in “trouble” and US at risk of waking up from “lethargy” too slowly
Fitch upgrades Colombia and Philippines
Fitch upgrades Colombia and Philippines one notch each as emerging markets bolster public finances; outlook reflects solid macroeconomic policies and strong public finances
Draghi's fate in European Council’s hands
European Council set to decide on nomination of Mario Draghi for ECB presidency; Lorenzo Bini Smaghi yet to announce decision regarding position on executive board
Bank considers further QE
Bank of England Monetary Policy Committee minutes reopens debate on further quantitative easing; new external MPC member Ben Broadbent votes to hold rates
Barroso confirms European finance ministers agree to EFSF fund rise
European Council set to meet in Brussels to discuss economic policy change and the Greek crisis; Barroso reveals finance ministers agree to raise European Financial Stability Facility fund
Carstens laments four fundamental weaknesses at IMF
IMF releases Agustín Carstens’ statement to the executive board following interview; describes four fundamental weaknesses he wants to address
IMF urges further Spanish reforms
IMF mission to Spain says authorities have implemented strong fiscal and structural reforms to aid recovery, but plans need to be strengthened
Canada unveils polymer banknotes
Canada unveils new polymer banknotes; changes to combat counterfeiting
China ups gold coin production
People’s Bank of China more than doubles issuance of gold panda coins for 2011; demand outstripping minting
Panellists' ‘shock’ at lack of investigation of BoE failings
Panellists giving evidence to the Treasury Committee expressed shock at absence of high-level investigation into the Bank of England’s actions in the financial crisis
IMF warns European contagion is resurfacing
IMF Global Financial Stability Report highlights growing concern over debt sustainability of European periphery countries; advanced economy downward growth revision signals two-speed recovery
Carstens and Lagarde in Washington for interviews
Interviews happening this week; decision still on course for June 30
West Africa central bank to audit Ivory Coast offices: reports
Central Bank of West African States wants audit of Ivory Coast offices
FPC member gets call to Bank’s governing body
External Financial Policy Committee member Michael Cohrs appointed to Court of the Bank of England
Euro finance ministers delay Greece deal
Eurogroup says second tranche for Greece will be delayed until at least early July as European finance ministers flesh out new deal for sovereign
Reserve Bank of India deputy governor retires
Shyamala Gopinath retires as deputy governor of the Reserve Bank of India; two new executive directors announced
ESM will wrap up restructuring dispute: IMF
IMF says completion of European Stability Mechanism will end unproductive debate on restructuring debt of peripheral countries
Trichet says euro is ‘stable and credible’
Trichet offers reassurance on credibility of the euro; says global imbalances are a concern, but euro area does not contribute to them
Australian regulators suggest clearing exemption for FX
Reserve Bank of Australia discussion paper commits to harmonising rules with US and Europe
Angola stops foreign currency loan issuance
National Bank of Angola bans commercial banks from issuing loans in foreign currency
IIF’s Dallara criticises Basel Committee for shortcomings on governance reform
Institute of International Finance managing director Charles Dallara “deeply troubled” by the Basel Committee’s lack of focus on improving banks’ risk culture
IMF managing director saga continues
IMF rebukes New York Times for article on Fischer; Strauss-Kahn’s immunity pleas revealed; candidates continue battle for international support