Central Banking
BoJ minutes show divergence on risks
Minutes of Bank of Japan's September meeting show disagreement on risks to economy
Estonia expects to undershoot growth
Bank of Estonia Economic Review forecasts decline in growth despite improvements in labour productivity
BoK’s Kim: Asia needs stronger domestic demand
Bank of Korea governor Kim Choongsoo says domestic demand can aid structural imbalances in Asia
Buba’s Nagel set to replace Sarrazin
Western states pick Bundesbank head of market operations Joachim Nagel to take Thilo Sarrazin’s place on executive board
Czech National Bank withdraws smallest banknote
Czech National Bank says Kc50 note will be replaced with coin in April; cites cost of replacing notes and change in value
RBNZ advances new regulatory framework
Reserve Bank of New Zealand broadens financial oversight over non-bank activity; says expiry of retail deposit guarantee scheme will balance risks
Irish bonds sixth riskiest: report
Credit default swap spreads on Irish bonds spike more than any other in third quarter; Portugal also among ten riskiest sovereign issuers
RBI’s Gokarn identifies emerging inflation risks
Reserve Bank of India deputy governor Subir Gokarn says changing dietary habits are driving up food prices
Riskbank explains wage statistic revisions
Riksbank commentary accounts for revisions to calculation of short-term wage statistics; shows preliminary data are good forecasting measure
Bank of Canada: central banks prefer higher haircuts
Bank of Canada study shows haircuts on collateralised assets is greater when central banks cannot lend exclusively to illiquid institutions
RBA’s Ellis warns of complacency over new Basel rules
Reserve Bank of Australia head of financial stability Luci Ellis calls for diligent policing of financial markets; says Basel rules are insufficient protection
UK arrests two in Securency raids
Officials take two men into custody in Securency graft probe as coordinated raids unfold in Australia, Britain and Spain
Ireland’s Elderfield rules out senior debt haircuts
Holders of senior debt must not be forced to shoulder losses, but issuing banks could negotiate with them, says Central Bank of Ireland’s Matthew Elderfield
Vietnam proposes lifting gold ban to stem inflation
State Bank of Vietnam head of foreign exchange Nguyen Quang Huy says restrictions on gold imports may be lifted if domestic prices are unsustainable; move could help contain inflation
Angola appoints new governor
Commercial bank head José de Lima Massano joins National Bank of Angola following government reshuffle
Recovery has lost steam and risks remain high, IMF warns
IMF's latest financial stability report strikes a cautionary note about the stalled economic recovery
St Louis Fed: forward rates provide investors little advantage
St Louis Federal Reserve study says informational value of longer term forward rates provides no additional economic benefits
BoJ: low interest rates boost bank lending
Bank of Japan Economic and Financial Developments report says bank lending showing signs of improvement
Philly Fed: school failure insurance reduces dropout rates
Philadelphia Federal Reserve study says introduction of insurance against college failure risk could increase retention rate
RBA develops more robust monetary policy model
Reserve Bank of Australia study uses sign restriction VAR models to explain exchange rate puzzle in measuring monetary policy
Pay attention to monetary aggregates: Canada’s Macklem
Bank of Canada senior deputy governor Tiff Macklem says interest rate transmission blockages make money, credit data key in crisis; adds voice to growing chorus of central bankers
US Treasury slashes forecast for cost of Tarp
US Treasury estimates cost of government bailout at $30 billion, less than a tenth of original forecast
Brussels crafts principles for bank account access
European Commission consults on principles to ground law granting universal access to basic bank accounts; 6% of adults do not have a bank account
Anglo bailout prompts Ireland downgrade
Fitch knocks Irish debt one notch; says higher bailout cost will impair fiscal consolidation plans