News
Sri Lanka holds rates steady
Central Bank of Sri Lanka continues policy of gradual easing of credit conditions
Dutch central bank takes over floundering DSB
The Netherlands Bank takes control of teetering domestic lender Dirk Scheringa Beheer after consortium talks fail; says it will guarantee deposits
Cautious MAS maintains zero appreciation policy
The Monetary Authority of Singapore pledges to maintain its policy of zero appreciation [of the Singapore dollar’s nominal exchange rate] as confidence in global rebound wanes
Nigeria’s banking landscape set to change: Sanusi
The governor of the Central Bank of Nigeria says the ongoing clean-up will lead to a reduction in the number of large banks
Nobel prize for pioneers of economics governance
Swedish Academy of Sciences shuns orthodoxy to award 2009 prize for work on institutions not markets
Canada taking “hard look” at price-level target
Bank of Canada’s Paul Jenkins says central bank undertaking “considerable study” on pros and cons of price-level targeting
Buba to be sole banking regulator
Germany’s incoming coalition government strips Bafin, the country’s financial services authority, of remit to regulate banks
Summers says crisis won’t hit potential growth
White House adviser Larry Summers says he expects growth to fully recover, optimism contrasts with eurozone outlook
UK opposition leader interferes in Bank policy
David Cameron, leader of the opposition Conservative party, says “the government” will have to stop printing money
British FSA gets tough on liquidity
Financial Services Authority’s Sally Dewar says banks will have to hold more liquid assets to cut out social costs of crisis
IMF disputes reserves’ role in shoring up stability
International Monetary Fund says large reserves stockpile didn’t help weather the crisis
Asian central banks propping up dollar: reports
Central banks buying dollars to prevent local currencies from appreciating against greenback
Estonia to meet eurozone inflation target by end of 09
Baltic state “eager and willing” to fulfil Maastricht criteria, says central bank economist
Lats peg under spotlight once again
Rumours of devaluation resurface following government move to limit debt burden, but state officials say will maintain euro peg
Trichet sees “pressing need” for fiscal responsibility
Announcing that interest rates would be kept unchanged, ECB president calls for governments to formulate realistic exit strategies
Officials must prepare for higher US saving: Geithner
Acknowledgment needed that American savings rates will be higher post crisis, US Treasury secretary Tim Geithner warns
CNB’s Singer blasts media portrayal of CEE
Czech National Bank’s Singer rails at blanket assessments of central and eastern Europe
Fed’s Dudley warns of looming commercial property woe
New York Federal Reserve’s William Dudley flags risks from commercial real estate sector, says strains restraining recovery
Bank economist to head Nomura’s European team
Peter Westaway leaves the Bank of England, joins investment bank as chief economist for Europe
Australia hikes rates in surprise move
Reserve Bank of Australia joins Bank of Israel in tightening borrowing costs on signs recovery in full flow
Geithner wades into World Bank funding debate
Tim Geithner says governments must support World Bank’s bid for more capital after officials question governance model
G30 calls for smaller IMF board, surveillance revamp
Group of Thirty wants four European members off International Monetary Fund board, says all countries must agree to surveillance reports
DSK picks ex-Japanese politician to succeed Kato
International Monetary Fund managing director proposes Naoyuki Shinohara as next deputy managing director
Former Bank official to advise Treasury on stability
Alistair Clark to advise Whitehall on financial stability