European Central Bank (ECB)
Bernanke charts new course for Fed economics
Federal Reserve chairman Ben Bernanke suggests research must veer away from assumptions based on classical paradigm; stresses models must better capture irregular behaviour
ECB’s Tumpel-Gugerell outlines challenges for ESRB
ECB executive board member Gertrude Tumpel-Gugerell says European Systemic Risk Board must overcome limitations to measuring systemic risk
Weber’s German defence highlights leadership flaws
Bundesbank president Axel Weber blames deficit countries for eurozone’s woes; analysts say comments further complicate chances at ECB presidency
Analysts applaud passage of ESRB, fret over practical concerns
Commentators praise the concept of a continent-wide systemic risk supervisor but say politics and lack of policy clarity could thwart good intentions
Trichet lauds Estonia’s positive response to crisis
European Central Bank president Jean-Claude Trichet says Estonia’s quick reaction to financial crisis paved Tallinn’s road to euro adoption
Rajan, Krugman renew spat
Ex-IMF chief economist Raghuram Rajan and Nobel laureate Paul Krugman revive clash over central banks' role in the crisis
Strauss-Kahn calls for European fiscal federation
IMF managing director Dominique Strauss-Kahn proposes creation of European fiscal authority similar to ECB to oversee fiscal policy
Gold to break $1,300 barrier: GFMS
Gold forecast to rise above the $1,300 mark, research body says; central banks becoming net buyers a factor
Growth in European cashless payments subsides
European Central Bank payments statistics shows amount of non-cash payments increased but at a slower rate than in previous eight years
Trichet warns Romania of complacency
European Central Bank president Jean-Claude Trichet advises Romania to actively tackle deficit at event marking central bank’s 130th anniversary
ECB’s Bini Smaghi calls for more studies into sovereign risk
European Central Bank executive board member Lorenzo Bini Smaghi calls for more research into how markets react
International bodies fulfil G20 recommendation on information gaps
European Central Bank, Bank for International Settlements and IMF publish second part of Securities Statistics Handbook to address information gaps
Hungary told to lift cap on central bankers’ pay
European Commission says Hungary could face legal action if it does not lift salary cap on central bank employees
ECB’s Bini Smaghi: contagion must be contained through rules-based approach
European Central Bank member Lorenzo Bini Smaghi says countries should stop paying lip service and instead adopt a rules-based approach to stopping contagion
ECB documents success of eurozone retail payment systems
European Central Bank releases comprehensive overview of the payments systems, including underlying concepts and the role of the central bank; book notes success of Step1 commercial payment system
ECB’s González-Páramo highlights flaws in collateral framework
European Central Bank executive board member José Manuel González-Páramo acknowledges risks in central bank’s willingness to accept broad range of collateral
Trichet to be first head of European Systemic Risk Board
European Central Bank president Jean-Claude Trichet will chair continent’s new systemic risk board until the end of his term; proposal reflects compromise between parliament and national governments
Trichet advocates debt reduction to avoid “lost decade”
European Central Bank president Jean-Claude Trichet warns of potential perils facing Europe
Regression analyses should use more growth variables: ECB
European Central Bank research says accuracy of partial coefficients in small models not clear
High public debt will choke long-term growth: ECB
European Central Bank paper finds debt to GDP ratio of 70% enough to drag growth down
Eurozone lending gathers steam: ECB
European Central Bank figures show growth of bank lending in single currency area increased in July; data follow signs of pickup in loan demand
Payments providers split over Sepa end dates
Comments released by the European Commission show that European institutions and banking associations disagree over Sepa proposals to seperate end dates
ECB paper: global finance has little impact on Mediterranean
Real economy, not finance, impacts Mediterranean, research published by the European Central Bank posits
Spanish bank borrowing from ECB continues to balloon
Spanish banks continue to depend on European Central Bank after stress tests exposed capital shortfalls