News
Rate round-up: bulk of central banks hold
Rate decisions this week see a slew of institutions maintain policy stance
Iceland’s government knew banks were in trouble: Wellink
Dutch central bank president Nout Wellink says his Icelandic counterparts had informed the government that the country’s banking sector was in trouble
Argentina surprises with new governor
Mercedes Marcó del Pont, the pro-government head of a state bank, is made governor of the Argentine central bank, commentators and markets in shock
Ireland wrongly accused over funding family trips
Spending watchdog admits error over claims central bank paid for 52 spouses to travel on single visit, but Honohan bans future junkets
DSK hints at early departure from Fund
International Monetary Fund’s managing director thought keen to challenge Nicolas Sarkozy in 2012 presidential vote; move paves way for Fund to prepare ground for non-European appointment
Ex-SARB head to chair packaging company
Tito Mboweni named chairman of Nampak
Bank holds rates, halts asset purchases
Bank’s rate-setters stand pat, pointing to a clash of pressures between inflation and anaemic growth; ex-MPC members concur
US can go it alone on reforms: Volcker
Former Fed chairman Paul Volcker says international consensus on reform not necessary
Fed is best in crisis, says British think-tank
The Federal Reserve’s credit easing operations have fostered a quicker recovery than in the UK and eurozone, research finds
Romania makes half-point cut
Romanian central bank lowers cost of borrowing despite above-target inflation
Norway puts rate rises on ice
Pause in exit strategy as recovery “takes hold”, inflation likely to fall
New rules in pipeline for financial plumbing
Head of Basel-based CPSS says decade-old principles for payments, settlement and clearing must be updated and financial resource requirements sharpened
Frontrunner Blejer: deputy should take over
Former Argentine governor Mario Blejer tells CentralBanking.com deputy should see out Redrado’s term
RBA surprises with rates freeze
Reserve Bank of Australia wrong-foots markets after three straight hikes, cites Chinese policy tightening
China must look to interest rates: OECD
Paris-based organisation calls on Chinese central bank to move interest rates rather than putting liquidity controls in place
Argentina’s Redrado resigns
Argentine central bank governor gives in after three-week stand-off with the country’s president, government says it does not accept resignation
No hikes if inflation stays below 8.5%: RBI
Indian central bank’s governor and deputy governors say hikes could dampen growth, key rates to stay flat unless inflation exceeds 8.5%
Global rules for regulation or “catastrophe”: Trichet
ECB president Jean-Claude Trichet says international coordination is absolutely necessary in revamping regulation
Bulgaria joins Europe’s Target2
Euro-hopeful becomes full member of Europe’s large-value payment system
Former T&T governor blasts successor
Former governor of the Trinidad and Tobago central bank Winston Dookeran criticises current head Ewart Williams, saying his economic forecasts are out of touch
Shirakawa slams govt “misunderstanding”
Japanese central bank governor Masaaki Shirakawa defends policy actions and says calls for more monetary easing are fundamentally misguided
ECB’s Bini Smaghi demands capital uptake
European Central Bank’s Lorenzo Bini Smaghi “insists” banks use profits to raise capital rather than wages; line echoes position of the Bank of England
RBI hikes reserve ratio
Reserve Bank of India bids to counter risk that high food inflation could spark broader price pressures
Rate decisions this week
Majority of central banks to vote this week hold rates constant though dissent voiced in the US and South Africa; Philippines and India tighten, Hungary loosens