Central Banking
Choongsoo warns of lurching global crisis
Bank of Korea governor Choongsoo Kim says world risks another crisis if global imbalances are not addressed
Credit subsidies can counteract bust cycles: IMF paper
Fund case study of Serbia shows use of credit subsidies during the financial crisis was effective in mitigating decline in output
Riksbank's Öberg calls for focus on shorter forecast horizons
Riksbank first deputy governor, Svante Öberg, says limitations in analysts’ forecasting beyond one year requires greater emphasis on near-term outlook
Pakistan’s Anwar wants updated microfinance regulatory framework
State Bank of Pakistan governor Yaseen Anwar says considerable work is still needed to regulate microfinance institutions effectively
RBA cuts rates on fears of global slowdown
Reserve Bank of Australia cuts rates by 25 basis points amid growing concerns over sovereign debt crisis in Europe; analysts consider options available at next meeting
Namibian deputy governor turns down third term
Bank of Namibia deputy governor Paul Hartmann to be replaced by director of research Ebson Uanguta; governor Ipumbu Shiimi confirmed for a full five-year term
Lagarde calls Arab Spring a ‘beacon of light’
Christine Lagarde expresses her hope for the countries affected by the Arab Spring uprisings; calls on international community to support the growth of economies in the region
Eurozone faces big test as EFSF downgrade looms
European Financial Stability Facility's credit rating could be downgraded after Standard and Poor's places the sovereign ratings of Germany and France on negative watch
NALM Africa 2011: Beware the risk 'numbers' say African central bankers
African central bank risk chiefs say reserves managers need to beware the numbers produced by complicated risk management software systems and rely more on their own qualitative judgement
European Commission draws up new list of countries for Solvency II equivalence
Decision on Bermuda, Japan and Switzerland equivalence to be taken once Level 2 measures agreed
Change to Japan clearing mandate ends LCH-JSCC talks
A decision to limit the scope of Japan's clearing mandate has torpedoed months of partnership talks between LCH.Clearnet and the Japan Securities Clearing Corporation
IMF paper on how to better manage commodity price cycles
Fund study shows that flexible exchange rate regimes help shield commodity-exporting countries from sudden declines in commodity prices
Chinese labour costs contributed to US job losses: Fed paper
Federal Reserve study says decline in US manufacturing employment was largely attributable to relatively low investment and slow growth in the US, rather than China's competitive labour market
Monetary policy should not be overburdened: ECB’s Stark
European Central Bank executive board member Jürgen Stark says solution to sovereign debt crisis is primarily in the hands of eurozone governments not central bank
Markets will drive policymakers into action: Denmark’s Bernstein
National Bank of Denmark governor Nils Bernstein says eurozone governments are short of solutions to debt crisis but must reach a consensus
Fed promotes directors on district boards
Federal Reserve announces string of changes to chair and deputy chair of regional Fed board of directors for 2012
MAS reshuffles senior management
Departure of Leo Mun Wai as head of Monetary Authority of Singapore's capital markets group triggers series of changes to management at central bank
Cyprus governor warns country has 'lost credibility'
Athanasios Orphanides tells parliamentary committee that budget measures must be pushed through quickly to restore confidence in Cyprus; warns the country has lost credibility
Philippines banking sector liberalisation continues
Central Bank of the Philippines awards seven banks the right to open 162 branches in previously 'restricted' zones; next phase in the liberalisation of the domestic banking sector
Ireland launches new supervisory framework
Central Bank of Ireland says Prism model will better equip it to identify and deal with threats to banking sector in a timely manner; concerns remain over flexibility of framework
Australia announces new deputy governor
Philip Lowe promoted from position as assistant governor; Heather Ridout revealed as new external board member
FSB consultative group for the Americas gathers in Mexico
Central bank governors Agustín Carstens and José De Gregorio co-chair first regional group meeting to exchange views on key financial stability issues
Plosser warns Fed against engaging in fiscal policy
Philadelphia Federal Reserve president Charles Plosser says involvement in credit programmes risks blurring distinction between monetary and fiscal policy
ECB paper tests eurozone balance sheet transmission mechanism
European Central Bank study shows central bank balance sheet operations can stimulate economic activity and inflation, but has its limitations