News
ECB to assist Bosnia’s bid for EU accession
European Central Bank will help Bosnian central bank improve key areas such as statistics and research to prepare for the country’s accession to the European Union
SNB, Finma set up stability steering group
Central bank and regulator intensify their collaboration on financial stability
Yellen to replace Kohn as Fed vice chair?
Obama administration likely to pick arch dove to replace Kohn
Brazil’s Meirelles faces renewed tax fraud allegations
Brazilian central bank chief Henrique Meirelles could be investigated for the second time on tax crimes after attorney-general’s office asks Supreme Court for a probe, Meirelles unfazed
Chinese inflation spike scares investors
Chinese consumer prices rise more than consensus forecast in February, sparking fears that the economy is overheating
We know better now: Canada’s Carney
Bank of Canada governor Mark Carney reviews lessons learnt as the central bank celebrates its 75th anniversary
Argentine governor clings on to job as politicians splinter
Argentine Senate postpones vote on rejecting new governor Mercedes Marcó del Pont to next Wednesday after opposition factions disagree
Rate round-up
Swiss, New Zealand, Korean and Peruvian central banks all opt to hold rates
Stelmakh to remain Ukraine chief for now
National Bank of Ukraine governor Volodymyr Stelmakh will remain in office for the time being having overstayed term limit by three months, according to new prime minister
Senators table Volcker rule legislation
Bill would ban prop trading for large banks and impose limits for big non-banks
Fischer offered second term: reports
Local media says premier Netanyahu has asked Bank of Israel governor Stanley Fischer to stay on
Buba’s Weber dismisses Volcker rule
Bundesbank president Axel Weber says Paul Volcker’s plan will have unanticipated effects and interfere with monetary policy transmission, says sticking with Basel II is best
Trichet keeps open mind on European Fund
European Central Bank president Jean-Claude Trichet says more details must emerge before making a firm decision for or against a European monetary fund
Harsher stress tests described in new FSA risk outlook
New stress scenarios to test banks' resilience to double dip recession
Canada names Longworth’s successor, deputy Duguay to retire
Bank of Canada appoints special adviser Jean Boivin as deputy governor to fill vacancy created by David Longworth’s retirement, Pierre Duguay also to leave the central bank
SNB reveals Stabfund portfolio
Swiss National Bank says Stabilisation Fund holds about 4,800 positions in five currencies, bulk of assets backed by real estate
SARB will not be nationalised: Treasury
South African finance minister Pravin Gordhan dismisses talk of placing the central bank under state ownership, condemns shareholders’ tactics to force state takeover
RBA’s Lowe latest to dismiss inflation target hikes
Reserve Bank of Australia assistant governor Philip Lowe says IMF paper’s suggestion of raising inflation targets not sensible, says higher targets would damage supply side
SEC chief economist quits for private sector
Securities and Exchange Commission head economist James Overdahl will start as deputy head of a Washington consultancy at the end of March
China to keep up T-bill purchases; cautious on gold
State Administration of Foreign Exchange chief Yi Gang says the country will not rely excessively on gold, adds that political relations with US will not affect Chinese treasury holdings
US flip flops on cutting Fed’s oversight role
Senate committee is set to take all but the 23 biggest banks out of Fed’s regulatory ambit, diluted proposal will see Fed hang on to more of its responsibilities than reform bill initially said
Weber signals ECB could relax debt rules
Comments come after Austrian governor deemed power of rating agencies unacceptable; paves way for ECB to accept Greek debt even if downgraded
Fund economist: Lost Decade shows need for higher inflation targets
IMF economist Daniel Leigh points to evidence from Japan’s Lost Decade that shows hiking targets would have shorn output losses
ECB names new statistics head
European Central Bank says Aurel Schubert of the Austrian central bank will be the new chief of its statistics directorate