News
Banque de France predicts output contraction in Q3
Survey on Industry and Services shows French businesses expect growth to contract by 0.1% in third quarter of 2012; figures show steady deterioration in sentiment since mid-2010
King says black clouds remain over UK economy
Governor of the Bank of England reveals lower growth prediction for UK; inflation also expected to fall but King denies country faces a lost decade
Bernanke stresses importance of Fed independence
Chairman of the Federal Reserve highlights provisions in place to safeguard independence of the US central bank; discusses common fiscal authority for Europe
Indian government appoints new RBI director
Arvind Mayaram appointed as new member of Reserve Bank of India’s central board of directors; becomes one of two government representatives on the board
SNB reveals scale of latest foreign exchange purchases
Swiss National Bank posts large increase in foreign exchange holdings from June to July; purchases represent efforts by central bank to prevent safe-haven flows into country
Governor of Bank of Ghana becomes vice-president
Kwesi Bekoe Amissah-Arthur sworn in as deputy to president John Dramani Mahama; no news on replacement at the helm of the central bank
Senior official exodus continues at National Bank of Serbia
Chairmen and two members of the National Bank of Serbia’s Council of the Governor resign in protest at amendments to central bank law; parliament appoints Jorgovanka Tabakovic governor
Kenyan governor under fire over banknote printing contracts
Njuguna Ndung’u faces second public attack from politicians this year; latest complaint concerns handling of tender process for printing Kenyan banknotes
Australia and Sri Lanka leave rates on hold
Reserve Bank of Australia and Central Bank of Sri Lanka highlight worsening economic conditions around the world as they announce benchmark rates will remain unchanged
Serbian vice-governor resigns as amended central bank law passed
Bojan Marković follows Dejan Šoškić and quits central bank; amendments to central bank law passed despite opposition from IMF, European Commission and World Bank
Fed’s Bernanke looks beyond broad market indicators
Fed chairman warns key aggregate metrics can miss economic pain felt by individuals and households; encourages development of economic measures to better assist with policy decisions
China hints at policy adjustments to support economy
People's Bank of China pledges to strengthen the 'fine-tuning' of monetary policy in the country; latest indication of growing anxiety over slowing economy
New Jamaican banknotes mark 50 years of country’s independence
Bank of Jamaica introduces new notes commemorating 50 years of political independence for the country; hybrid substrate used for first time
Troika maintains pressure on Greece
Officials from the European Commission, ECB and IMF will return to Greece in September to check on reform progress; central bank chief reportedly tells government the country is being 'defamed'
IMF urges Russian central bank to tighten policy
Article IV consultation recommends ‘gradual further tightening’ of monetary policy; preparation needed for informal inflation targeting in 2014
BoE’s Tucker says bail-ins part of too-big-to-fail solution
Paul Tucker says bail-ins are an ‘important topic’ for policy-makers trying to address the issue of ‘too-big-to-fail’ banks; hints others are considering similar options
RBI’s Subbarao discusses regulating banking innovation
Duvvuri Subbarao outlines Reserve Bank of India’s efforts to regulate innovation in payments systems; says 'foresight and wisdom' are needed by both innovator and central bank
People’s Bank of China makes growth top priority
Latest quarterly report on monetary policy puts growth of the economy at the heart of the central bank’s efforts; recent statistics show continuing slowdown in world’s second largest economy
Serbian governor quits as government faces pressure over new law
Dejan Šoškić resigns as governor of the National Bank of Serbia; IMF and European Commission blast government plans to amend central bank law
Fischer calls for Israeli government action on deficit
Bank of Israel governor says government’s decision to increase its fiscal deficit instead of raising taxes will hurt future generations; impact will be most acute should eurozone fragment
IMF urges US policy-makers to take action against fiscal cliff
Conclusions of IMF Article IV consultation with US highlight risks from fiscal cliff and debt ceiling; calls on policy-makers to strike deal at ‘delicate juncture’ for world economy
Draghi says ECB ready to make further bond purchases
ECB president says central bank is prepared to intervene in sovereign bond markets to prop up ailing eurozone economies; ECB holds rates, as does Bank of England
Reserve Bank of Fiji grapples with credit card surcharge decision
Fijian central bank looks to Australian experience of updating rules regarding credit card surcharges; weighs up benefits of allowing additional charges ahead of final decision this month
Bank of Korea reveals July gold purchase
Korea adds hundreds of millions of dollars' worth of gold to reserves in July; FX reserves swell by $1.97 billion to $314.35 billion