Central Banking
Fiscal policy in Cemac region strongly procyclical: IMF paper
Fund study finds evidence of procyclical nature of fiscal expenditure in Cemac countries
EU no-bailout rule must be strengthened, says Buba
German Bundesbank says eurozone bailout reduces incentive to commit to sound fiscal policy; calls for strengthening of no-bailout rule in EU treaty
PboC adviser calls for urgent reform in the West
People’s Bank of China adviser Li Daokui says Europe and the US must introduce further reforms to address their chronic economic problems
Options traders braced for further SNB intervention
Demand has switched from downside EUR/CHF options to upside options in anticipation of further Swiss franc weakening measures from SNB, say senior options traders
CFTC repository rule won't save regulators from data leak bills, say European supervisors
The CFTC's attempt to protect non-US regulators from an indemnity clause in the Dodd-Frank Act will fail, European regulators fear
RBI’s Subbarao on scaling up corporate governance in emerging markets
Reserve Bank of India governor Duvvuri Subbarao says banks’ special role as financial intermediaries requires special corporate governance rules
Tough policy choices ahead for Australia: RBA’s Battellino
Reserve Bank of Australia deputy governor Ric Battellino says higher inflation and lower-than-expected growth will make monetary policy more challenging
ECB paper identifies source of slump in global trade
European Central Bank study says numerous components of final expenditure contributed to sharp decline in global trade during financial crisis
High markups can exacerbate downturns: IMF paper
Fund study finds evidence that high markups in South Africa creates monetary policy asymmetries
Austria’s Nowotny fears delay in ratification of EFSF
National Bank of Austria president Ewald Nowotny expresses concern that new European Financial Stability Facility powers will not be phased in by October
Gono warns government against ‘firing harmful, verbal economic gunpowder’
Gideon Gono says no intention to withdraw foreign banks’ licences; rebukes Zimbabwean government for issuing warning of nationalisation
ING’s Gupta: Yuan to become reserve currency in two years
ING Investment Management Asia’s CIO believes the yuan will become a reserve currency within the next two years driven by the ongoing debt problems in Europe and the US.
RBNZ admits policy response to housing bubble was 'too slow'
Reserve Bank of New Zealand says monetary policy was too slow to react to build-up in housing prices during 2000s
Asian Development Bank renews president’s term
Haruhiko Kuroda to remain as head of the Asian Development Bank for another five-year term
Bank of Finland paper assesses China’s two-track system
Bank of Finland study explains why monetary policy in China uses a combination of price and quantitative instruments
Bank of Japan paper on success of Japan’s deregulation initiative
Bank of Japan study says deregulation in Japan has been broadly successful
Capital controls are effective on occasions: IMF report
Fund study says there are benefits and risks associated with implementing capital controls
Forecasting with multiple interest rates: Bank of Canada paper
Bank of Canada study builds augmented version of forecasting tool that includes multiple interest rates
Venezuela’s Chavez orders diversification of reserves
Hugo Chavez has asked the central bank to repatriate gold reserves and diversify holdings amid “global crisis of capitalism”; controversial president also plotting to nationalise gold industry
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
RBI advisory committee split over rate hike
Minutes of Reserve Bank of India’s Technical Advisory Committee shows divisions over central bank’s decision to raise interest rates
Barbados moves back into the black
Central Bank of Barbados reports $1.5 million profit for 2010 due to a higher return on securities sales and cost reductions
Vote now: Should Greece leave the euro?
CentralBanking.com is running a poll to gauge readers' thoughts on the breakdown of the eurozone
Ireland’s Honohan on risks of increased globalisation
Central Bank of Ireland governor Patrick Honohan says greater globalisation boosted Ireland’s economy but also left it open to debt vulnerabilities