News
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
Senate backs Bernanke for second term
Lawmakers vote 70 to 30 in favour
FSA’s Turner wants new macroprudential body
The UK’s top regulator Adair Turner says a body other than the Bank of England is needed to implement macroprudential supervision
RBI hints at tightening ahead of policy meet
Reserve Bank of India flags inflation as “major concern” on eve of rate vote
Frank says Fed presidents shouldn’t vote on policy
Head of House Financial Services Committee labels heads of regional Federal Reserves “private citizens selected by other private citizens”
Reshape debt to prevent future crises: Bank’s Haldane
Bank of England director Andrew Haldane points to debt-equity swaps and contingent capital as means to avoid another debt crisis; says shareholder dividends should have been saved
Kansas’s Hoenig dissents at FOMC meeting
Kansas Fed president Thomas Hoenig votes against action to keep promise of extremely accommodative policy
NY Fed misrepresented French AIG position: Tarp overseer
Tarp overseer Neil Barofsky says Commission Bancaire would have helped secure haircuts from French counterparties of American International Group; comments contradict earlier claim by New York Fed
Geithner passes buck on AIG
Treasury Secretary says he did not make the decision to pay American International Group’s biggest counterparties 100 cents on the dollar
IIF sees sharp rise in emerging-market capital flows
Significant about-turn sees anticipated flows leap above 2008 figures; pick-up most marked in emerging Europe
Iceland cuts by 50 bp as króna stands ground
Unexpected reduction leaves borrowing costs at 9.5%, central bank notes Icesave debacle failed to impact króna
Denmark names professor new economics head
University of Copenhagen’s Peter Birch Sørensen to move to the National Bank of Denmark in April
IMF more upbeat on growth
Global economy now set to expand by 3.9% this year, according to World Economic Outlook Update