United States
Opposing fronts
Martina Horáková reports on two conflicting views of US regulatory reforms
Carney discusses handling of global debt crises
Testifying before the House of Commons Standing Committee on Finance, Carney discusses the handling of debt crises in both the US and the eurozone
European ABS purchases pushed yield curve lower: Fed paper
Federal Reserve study says European acquisitions of asset-backed securities contributed to decline in US bond yields pre-crisis
New policy approaches should ‘stimulate’ risk-taking: BoE’s Haldane
Andrew Haldane uses historical examples to show macroprudential policy, used to stimulate risk-taking, can work
Fitch issues stern warning to the US
Affirms AAA rating but says failure to agree on deficit-reduction measures would ‘likely result in negative rating action’
Fed 'not out of bullets' says Lockhart
Atlanta Fed president says monetary policy options are available; admits economy is 'closer to the threshold of contraction'
Sovereign concerns set back RBA rate hike
Minutes of Reserve Bank of Australia monetary policy meeting show policy board did not hike rates due to mounting concerns over effects from international sovereign debt on demand
Two economists mooted for seat on Fed board
Jeremy Stein and Richard Clarida are being considered for terms on the Federal Reserve board of governors in a bipartisan effort from US lawmakers, writes Blair Baker
Iran says US sanctions on central bank are ‘unfounded’
Central Bank of Iran governor Mahmoud Bahmani denies US will impose sanctions on central bank; says measures would be “unfair”
FOMC rate commitment will aid US recovery: NY Fed’s Dudley
New York Federal Reserve president William Dudley says Fed's commitment to low interest rates till mid-2013 provided support for economy
Bank of Korea paper addresses growth implications of rising capital inflows
Bank of Korea study says improved institutional frameworks should be designed to monitor risks from capital inflows
Philly Fed paper on economic effects of fiscal uncertainty
Philadelphia Federal Reserve study says fiscal uncertainty can have impact on economy equivalent to monetary tightening
Kocherlakota speaks out against Fed decision
Minneapolis Fed president Narayana Kocherlakota says rising inflation and lower unemployment in economy did not warrant change in Fed language; says measure constitutes monetary easing
Banks blame complexity for slipping tri-party reform targets
Reforms to $1.59 trillion tri-party repo market are set to miss industry deadlines, and could now spill into 2012
Chancellor calls UK bond market a ‘safe haven’
Chancellor of the exchequer George Osborne says decline in gilt yields and credit default swaps signal flight to safety of UK bonds
Financial interlinkages are uniform across Asia region: BoJ paper
Bank of Japan study shows links between Asian nations and global stock markets appear to be homogeneous across countries
Fed spat over timeline for low rates
Target for federal funds rate kept at 0%-0.25% range until "at least" 2013; three committee members wanted ambiguous wording used on timescale
Fed’s international finance division director leaves
Nathan Sheets leaves the Federal Reserve after 18 years; Steven Kamin to step in as acting director
Good luck played role in post-crisis recovery: BIS paper
Bank for International Settlements study says combination of good policies and good luck led to variation in macroeconomic performance of countries
Three strikes and you’re out
Standard and Poor’s downgrade of US debt is just one of a handful of errors made by credit rating agencies, writes Robert Aliber
Buba paper identifies positive spillover effects of financial aid
Bundesbank study say German foreign afilliates benefit from effects of domestic aid policies
Chicago Fed reviews implementation of Dodd-Frank Act
Chicago Federal Reserve newsletter looks at policy debate on measures to address systemically important financial institutions
Dollar falls on S&P downgrade
Standard and Poor’s makes unprecedented move by becoming the first ratings agency to downgrade the US credit rating; gold hits record high as dollar falls
Central Bank of Iran faces ‘crippling sanctions’ from US
US senators urge President Barack Obama to apply strict financial sanctions on Central Bank of Iran