France
French paper warns of forward guidance perils
Study published by Banque de France says efficient communication to an inattentive audience can only be achieved if supported by effective monetary policy
French research says monetary policy can offset herding
Banque de France working paper says interest rate hikes can be used to eliminate asset price bubbles caused by investor herding behaviour
The ghost at the IMF’s Tokyo feast
Robert Pringle looks back at the main themes of the IMF’s annual meeting, which was held in October in Tokyo, and forward to prospects for 2013
French debt downgraded as Troika praises Portuguese reforms
France stripped of top credit rating due to weak reform effort and high uncertainty, as Troika praises Portugal for making ‘solid progress’ with economic reforms
Tail risk evaluated in French paper’s new inflation measure
Study by Banque de France staff finds the expectations of extremely high and low inflation outcomes impacts actual levels
French deputy emphasises importance of non-financial sector data
Banque de France deputy governor says information on non-financial companies has vital uses on the micro and macro level, as it helps evaluate collateral and perform stress tests
Banque de France plans to reduce regional presence
French central bank outlines development goals for 2020; set to decrease the number of regional sites, will lose up to 2,000 staff
French circus to perform as part of ECB cultural days
ECB reveals programme for cultural days 2012; spotlight for annual event falls on France and will for the first time feature a circus production
French research examines impact of credit rating changes
Banque de France study examines impact of a change in a country's credit rating on investment markets; downgrades have significantly larger effect on spreads
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
Bank of Italy ends twinning programme with Bank of Albania
Guidance project between Italian, French and Albanian central banks comes to an end; final results due in October 2012
Norway’s SWF adds $340m of property to portfolio
Norwegian sovereign wealth fund buys stakes in French property worth $340 million; aims to expand real estate investments into other European markets
Bundesbank reveals location of gold holdings
German central bank says gold is held in four countries; kept in the vaults of the trading centres where transfers happened
CB.com poll finds support for financial transaction tax
Survey sees 56% of voters support the introduction of a financial transaction tax in Europe
Brendan Brown on life after death for the Emu
Brendan Brown puts forward a proposal for how a functioning monetary union in Europe could operate if the current system was to fail
Central bankers attend Financial Action Task Force meeting
Central bankers from many of the 136 member countries of FATF share thoughts on combating money laundering
Moody’s alters sovereign debt ratings of nine EU countries
Austria, France and the UK see outlooks on Aaa ratings changed to negative; Spain and five other countries’ ratings are downgraded
Heightened uncertainty promoted precautionary savings post-crisis, says IMF paper
Fund study says precautionary motives promoted households in advanced economies to significantly increase savings following the global financial crisis
ECB paper captures effect of eurozone sovereign risk on bond spreads
European Central Bank study says both country-specific and contagion risk contributed to widening of sovereign bond spreads against the German Bund during the financial crisis
EFSF rating in spotlight as speculation on eurozone downgrades emerges
Rumours that France and other eurozone sovereigns will lose AAA ratings spooks markets; move will place a question mark over European Financial Stability Facility's rating, say analysts
Banque de France to slash personnel numbers
Banque de France to replace only 50% of retirees in attempt to lower staff numbers; 2,500 posts to be lost by 2020
Noyer blasts ratings agencies on Twitter
Banque de France verified Twitter page publishes stream of comments from governor Christian Noyer; criticises credit ratings agencies and slams UK economic performance
European Parliament to vote on Cœuré’s future at ECB
Economic and Monetary Affairs Committee recommends Benoît Cœuré for ECB executive board; plenary European Parliament vote to happen on Wednesday
Cœuré progresses towards ECB executive board membership
ECB Governing Council adopts Council of the European Union opinion and supports Benoît Cœuré to become a member of the executive board