Central Banking
Rodrik: Fed needs paradigm shift
Harvard economists argues the new Fed chairman has to be less in awe of Wall Street
Meirelles comments on future, bank lending
Central Bank of Brazil’s Henrique Meirelles comments on rumours of a return to politics and backs the actions of state-led banks
Nigeria suspends trading in troubled banks
Nigerian authorities suspending trading in troubled bank shares and look to foreign investors to restore health
Pakistan cuts against Fund advice
State Bank of Pakistan cuts rates, against International Monetary Fund advice, as inflation slows
Nigeria’s Sanusi goes on sacking spree
Central Bank of Nigeria governor fires heads of five banks and injects N400 billion to ease debt crisis
Yuen named new HKMA deputy
Arthur Yuen succeeds Y.K. Choi as the Hong Kong Monetary Authority’s stability deputy in the new year
India moves to cut out counterfeiting
Reserve Bank of India proposes raft of measures to stamp out fake banknotes
Central Bank of Iceland – Monetary Bulletin 2009/3
Central Bank of Iceland says liberalisation of capital flows will happen by the beginning of November
Norwegian sovereign fund makes record gain
Government Pension Fund – Global records 12.7% return in the three months to March, its best ever quarterly result
India’s Chakrabarty: road to financial inclusion rocky
Reserve Bank of India’s Kamalesh Chakrabarty sees many obstacles on the way to financial inclusion
Counterparty risk still large
International Monetary Fund assesses counterparty risk in the United States stemming from exposures to over-the-counter derivatives payables
Czech National Bank – Inflation Report
Czech National Bank says inflation will fall further but remain positive this year
SARB shocks markets with half-point cut
South African Reserve Bank surprises analysts expecting rate hold
France and Germany out of recession
Analysts taken by surprise as data show eurozone’s two largest economies returned to growth in the second quarter
BoJ forerunner of unconventional policy: Shirakawa
Bank of Japan’s Masaaki Shirakawa says economists attitudes towards unconvential monetary policy have changed since the Japanese crisis
Sustainability of China’s export-oriented growth shaky
International Monetary Fund says China will have a tough job maintaining its growth momentum
Brazil president intervenes in monetary policy
Lula says further rate cuts “desirable”
Denmark cuts to halt krone rise
National Bank of Denmark lowers lending rate by a tenth of a percentage point. Iceland holds to promote appreciation
Small firms also make it in exports
Philadelphia Federal Reserve says exporters not necessarily larger than non-exporting firms
European Central Bank - Monthly Bulletin August
European Central Bank’s Monthly Bulletin justifies keeping key rates on hold
Fed action spurs market recovery
Federal Open Market Committee statement boosts wave of positive sentiment
Bank will consider cutting interest on reserves
Mervyn King says Bank of England will “certainly” look into lowering remuneration on reserves held in central bank coffers
FSA issues code on bank bonuses
UK Financial Services Authority releases rules on bankers’ remuneration policies
Ugandan auditor made acting deputy
Patrick Byabakama Kaberenge replaces David Opiokello