News
Fed governor pans accounting developments
Federal Reserve’s Elizabeth Duke says both FASB’s and IASB’s new approaches raise “number of concerns”
Palestine launches hybrid payments system
Palestine Monetary Authority’s new interbank payments system described as development towards statehood
Bank’s Haldane stresses limits of regulation
Rules alone will not be enough to restore trust and spur a full recovery says Bank of England’s executive director for financial stability
Foreign lenders pledge support to Latvia
Four biggest foreign-owned banks in Baltic state agree to prop up branches and subsidiaries
Russia cuts for sixth time in five months
Bank of Russia lowers policy rate by 25 basis points in fresh effort to stimulate bank lending
Fed economist says 2% too low for inflation
San Francisco Federal Reserve’s John Williams says 2% inflation “insufficiently high” to protect economy
Financial stability must come second to inflation: ECB’s Bini Smaghi
European Central Bank’s Lorenzo Bini Smaghi says exit strategy must focus on price stability
Ukraine deputy quits on political meddling
National Bank of Ukraine’s Oleksandr Savchenko resigns accusing the President of interference with the central bank’s monetary policy
US to end money-market guarantees this month
Treasury secretary Tim Geithner notes financial sector starting to wean itself of state support
Danes set to avoid euro vote – report
Report says Copenhagen will not hold euro referendum on waning support for single currency
Blanchflower slams Bank’s MPC for group-think
Economist David Blanchflower accuses group of being hobbled by “iron fist” of governor
Poland considers quantitative easing
National Bank of Poland says it may buy banks’ bonds as part of a raft of measures aimed at shoring up stability
Harmonised card schemes crucial for Sepa success: Tumpel-Gugerell
European Central Bank's Gertrude Tumpel-Gugerell says more card schemes needed to foster competition
Fed’s Evans states case for independence
Chicago Federal Reserve’s Charles Evans warns Congress risks fuelling inflation if limits placed on Fed independence
Central banks on hold
Bank of England, Bank of Canada, Reserve Bank of New Zealand and Bank of Korea all keep policy fixed
First consultations held on currency for East Africa
Bank of Tanzania hosts first meetings on plans for East African Monetary Union
UN agency calls for global monetary reform
UNCTAD says capital controls needed to curb financial excess, dollar’s role as global reserve currency “increasingly challenged”
Greenspan blames “human nature” for crunch
Former Federal Reserve chairman Alan Greenspan sceptical that another crisis can be avoided until humans learn to accept cyclical nature of capitalism
Card payments continue to soar
Latest World Payments Report sees non-cash payments growing to 250 billion
Triple A ratings safe for now
Moody’s says Aaa countries have stable outlooks
Banks agree to expand central clearing for derivatives
Fifteen banks commit to more central clearing for certain derivatives in bid to fix industry’s tarnished reputation
Gold prices breach $1,000
First time metal rises above $1,000 per ounce since February
Crisis set to change inflation targeting: CentralBanking.com subscribers
CentralBanking.com snapshot shows most think inflation targeting will change. Almost a third believe crisis marks end of framework
ECB’s González-Páramo questions market rally
European Central Bank executive board member takes unusual step of commenting on market prices, hints degree of optimism unwarranted