News
Commission unveils contentious Eurobond proposals
European Commission unveils three options for Eurobonds in bid to restore stability in Europe; analysts say the measures are politically unviable and ineffective
Weak demand adds pressure on Bank of England
Bank of England Monetary Policy Committee minutes shows all members voted to hold rates despite growing signs of declining demand from UK households
FOMC disagrees over monetary policy strategy
Federal Open Market Committee discusses alternative monetary policy strategies; committee disagrees over setting a “longer-run inflation goal”
Barbados calms public fears over 'counterfeit' banknotes
The Central Bank of Barbados reassures public that notes dated 2007 but bearing the signature of the current governor are genuine; statement in response to several queries
Delawari nominated as governor in Afghanistan
Afghan president Hamid Karzai proposes reappointment of Noorullah Delawari as governor of Bank of Afghanistan; last governor fled the country in fear of life
UK Royal Mint unveils Olympic kilo coins
Royal Mint reveals design of first ever coins weighing one kilo; collectors' items designed by esteemed British artists
Austria pushes ahead with Basel III
National Bank of Austria announces plans to require banking groups to comply immediately with Basel III's higher capital requirements; sets restrictions on loan issuance
China and Hong Kong double currency swap agreement
Hong Kong and China double currency swap arrangement; Hong Kong pushes to remain number one offshore renminbi business centre while China proceeds with internationalisation of renminbi
Sarb’s Marcus laments ‘new phase’ in eurozone crisis
Latest South African Reserve Bank Monetary Policy Review shows rising inflation and hesitant domestic economic recovery; governor Gill Marcus shares concerns as eurozone crisis rumbles on
UK financial system faces severe sovereign risks: BoE survey
Bank of England Systemic Risk Survey shows risk managers believe probability of high-impact event in the UK financial system has increased sharply in 2011
Hungary seeks assistance from IMF
Hungarian government requests financial assistance from the International Monetary Fund in what has been dubbed a "new type of co-operation"
Iran appoints first female deputy governor
Iranian central bank governor appoints woman as deputy governor; takes on role of trying to stabilise fluctuating currency market in the country as sanctions are discussed worldwide
Dovish Miyao wants more QE for Japan
Bank of Japan minutes show policy board member Ryuzo Miyao voted for a ¥10 trillion monetary injection at the last meeting
FSB Asia Regional Consultative Group holds first meeting
Asian regional consultative group gathers in Korea to exchange views on key financial stability issues
Liikanen predicts emerging market over-take in 2013
Bank of Finland governor sees emerging economies overtaking developed as soon as 2013; Bank of Finland renews terms of two key central bank figures
Draghi exasperated with eurozone leaders over EFSF
European Central Bank president Mario Draghi expresses frustration at delays from member states to issue new powers to eurozone rescue fund
Industry praises expansion of South Korea’s currency swap arrangements
Senior executives of large enterprises praise Bank of Korea for expanding currency swaplines with Japan and China; industry concerned about slowdown caused by eurozone crisis
Greek reversion to drachma easier than euro conversion, say analysts
If Greece were to leave the eurozone it would have to establish a new currency in record time; analysts explain how the process would be simpler today due to technological advances
Emerging market central banks lead gold rush
World Gold Council Global Demand Trends report shows central banks were net buyers of gold in third quarter of 2011, led by Russia, Bolivia and Thailand
US senator renews call for ‘crippling’ sanctions on Central Bank of Iran
Senator Mark Kirk wants foreign financial institutions conducting transactions through the Central Bank of Iran to see access to US financial system cut off, and their US-based assets blocked
Central bank intervention in credit markets threatens independence, says Fed's Lacker
Richmond Federal Reserve president Jeffrey Lacker says intervention in credit markets diminishes central bank autonomy; CentralBanking.com poll suggests otherwise
Blanchflower blasts BoE’s forecasting record
Former Bank of England Monetary Policy Committee member David Blanchflower says central bank will continue to miss projections until outdated models are replaced
IMF’s European director Antonio Borges quits
Director of European department, Antonio Borges, steps down for personal reasons; succeeded by strategy director Reza Moghadam in shake-up at Fund
Turkey and Nigeria in talks with China about currency swaplines
Governors of relevant central banks confirm Republic of Turkey and Nigeria are both in negotiations with the People’s Bank of China regarding currency swaplines