Central Banking
Gold to put in sparkling performance: asset managers
Central bank reserve managers from around the world say gold will do better than any other reserve asset in 2010; metal’s importance to soar over near future
Bank’s Sentance in shock call to raise rates
Arch hawk argues inflation risks warrant quarter-point hike in rates
Agathe Côté named new Bank of Canada deputy
Bank of Canada adviser Agathe Côté named as replacement to Duguay after deputy governor retires
ECB meet signals Gulf’s common currency intent despite euro woes
Governors of Saudi Arabian Monetary Agency, the Central Bank of Kuwait and Qatar Central Bank to meet with Jean-Claude Trichet and Mario Draghi next week to discuss how best to adopt a single currency
Brazilian opposition candidate threatens central bank’s independence
Opposition party presidential candidate José Serra says rate-setting will be a political process under his leadership; latest poll puts Serra on level footing with governing party candidate
Eurozone crisis threatens Canadian financial stability
Bank of Canada links deterioration of risks surrounding global imbalances and the growth outlook to single currency zone’s sovereign debt crisis
BIS: Crisis response lacks rigour compared to Nordic countries in 90s
Bank for International Settlements study into the recent financial crisis says policy response may slowdown recovery
Riksbank study finds rate-setting board too large
Riksbank study on monetary policy committees finds Sweden’s Executive Board is not as effective with six members
Rate-setters decide on premise rather than conclusion: Riksbank
Riksbank research shows decisions based on premise rather than conclusions are preferred during tied Monetary Policy Committee votes
Italy’s Draghi warns against protectionist measures
Bank of Italy governor Mario Draghi says trade relations have been set back due to financial crisis, leading to more protectionism
Regulators hit back at IIF’s doom-laden predictions of Basel III impact
Regulators believe the IIF has over-estimated the effect of the planned Basel III reforms
Fed calls on banks to step up pay reform
A Federal Reserve review on executive compensation says firms need a more comprehensive review of risks relating to misaligned pay incentives
Hungary’s Simor breaks silence on government attacks
National Bank of Hungary governor András Simor slams repeated attacks of central bank and proposal to interfere with central bankers’ pay; government could force Simor out, analysts think
Naidene Ford-Hoon to head Sarb financial services wing
Accountant Naidene Ford-Hoon replaces Gerrie Terblanche as head of financial services at the South African Reserve Bank
Bank of Spain proposes more efficient stress test method
Bank of Spain study explores new methods of stress testing that identifies more harmful risks to previously unscreened institutions
Sovereign bonds lost safe haven status in crisis: Bundesbank
Bundesbank study on sovereign bond spreads finds marked change in perceived risk of holding government debt following the bailout of Bear Stearns
BIS’s Caruana warns macroprudential policies may have unintended consequences
Bank for International Settlements general manager Jaime Caruana says macroprudential policies alone do not guarantee protection from systemic risks
Broader card payment security measures may minimise fraud: Kansas Fed
Kansas Federal Reserve study on card payment fraud says more can be done to improve the security of card based transactions
Markets rejoice as Beijing reverts to managed float
Investor risk appetite soars as China drops the renminbi’s rigid dollar peg; analysts say Beijing’s policy shift sparked by potential benefits, rather than international pressure
Trichet: European Union needs to adopt sanctions to curb spending
ECB president Jean-Claude Trichet proposes sanctions against countries that overspend in order to fulfill obligations of new crisis management institution under review
Ireland unveils new supervisory code
Central Bank of Ireland report heralds move towards tougher approach; plans to create departments to implement more stringent regime
Zimbabwe orders end to seizure of central bank assets
Zimbabwe's finance minister Tendai Biti stops auctioning of central bank assets in bid to revive beleaguered institution
Accounting change behind Saudi gold surge
Saudi Arabian Monetary Agency’s gold reserves more than double due to accounting adjustment; European central banks keep to agreement while Russia, Philippines buy
PBoC to regulate non-bank payments providers
People’s Bank of China sets out new legislation governing non-financial institutions that provide payments services; law an attempt to shed light on burgeoning payments network