Brazil
IMF fears eurozone crisis will stall global recovery
World Economic Outlook slashes growth projections for 2012 as downside risks to eurozone economy intensify; IMF warns spill-over effects could slow economic activity globally
Chile lowers rates for first time since 2009
Central Bank of Chile announces 25-basis-point cut to benchmark rate; stresses commitment to maintaining 3% inflation target
Brazilian working paper looks at adverse selection cost in stocks
Central Bank of Brazil working paper finds the component is higher than in the US market and displays an intraday U-shape pattern
CLS pushing 'transformation' agenda, says Bozian
Central settlement utility is feeding greater resources into expanding its universe of currencies, according to chief executive Alan Bozian
Central Bank of Brazil paper on designing an effective macroprudential framework
Central Bank of Brazil study says macro-prudential tools can adversely influence monetary policy transmission mechanism
Brazilian politicians take on inflation-targeting mandate
Bill to alter Central Bank of Brazil's inflation target mandate passes Senate Economic Affairs Committee; discussion flares-up as to whether central bank is already employing a mulit-target mandate
Brazil offers scant explanation for rate cut
Monetary Policy Committee’s brief statement cuts benchmark interest rate in Brazil; policymakers say “more restrictive global environment” is reason behind decision
RMB’s rise to reserve currency status accelerates
Renminbi progresses towards becoming a reserve currency in its own right; a number of central banks have begun to diversify into the Chinese currency
Vote now: Are central banks losing their independence?
CentralBanking.com is running a poll on whether central banks are losing their independence
Brazil cuts benchmark rate in surprise move
Monetary Policy Committee drops benchmark interest rate from 12.5% to 12% in unexpected decision
Market discipline averted subprime chaos: Central Bank of Brazil paper
Central Bank of Brazil says subprime mortgage crisis did not cause serious problems in Brazil due to good regulation and transparency
Brazil ‘prepared’ for international challenges: Tombini
Governor of the Central Bank of Brazil says country is ‘prepared’ to face the challenges in the international arena; expects inflation downward trend to continue
Brazil holds first Financial Stability Committee meeting
First meeting held over a month later than planned; comes in same week governor addresses New York audience for the first time and discusses rising inflation
Brazilian reserve requirements inefficient liquidity tool: Fed paper
Federal Reserve study says reserve requirements failed to provide adequate liquidity provisions in Brazil
Fitch upgrades Colombia and Philippines
Fitch upgrades Colombia and Philippines one notch each as emerging markets bolster public finances; outlook reflects solid macroeconomic policies and strong public finances
Risk & Return Brasil: Supervisors need to be more curious, says Donizeti
Authorities should put less faith in numbers and what they are told by banks, says top Brazilian supervisor
EMEs more sensitive to risk premiums: IMF paper
IMF study shows a lower risk premium can reduce inflation in emerging economies
IMF candidates battle to win support
Lagarde and Carstens visit Brazil; Merkel supports non-European candidate in the future
Brazil creates Finance Stability Committee
Central Bank of Brazil creates Financial Stability Committee to supervise financial industry and manage systemic risk
Thai governor becomes latest to attack IMF capital controls framework
Bank of Thailand governor Prasarn Trairatvorakul’s criticisms of IMF framework on capital controls come after similar comments from Brazilian, Indian officials
Yellen defends IMF proposals on capital controls
Federal Reserve vice-chair takes Fund line on framework to tackle capital inflows; follows criticism of framework from Indian, Brazilian officials
Brazil slams IMF proposal on capital controls
Brazil’s finance minister Guido Mantega rejects IMF proposals for establishment of framework on capital controls; attacks Fund’s laissez-faire policy on capital movements
FSB reviews OTC reform
Financial Stability Board progress report says implementation of OTC derivative reform varies across countries
Brazil prepares for Basel III
Brazilian financial stability report announces major changes will be incorporated in the country’s legislation; bringing it into line with Basel III