Central Banking
ECB Monthly Bulletin: March 09
The outlook for euro-area demand remains gloomy, says the latest Monthly Bulletin from the European Central Bank.
Central Bank of Belize - Annual Report 2007
In 2007, Belize experienced an economic downturn with GDP growth falling from 5.3% to 1.6%, notes the latest Annual Report from the country's central bank.
Brazil cuts to record low to boost sluggish growth
The Central Bank of Brazil cut its core interest rate, Selic, by 150 basis points on Wednesday after data out Tuesday indicated Brazil was much more vulnerable to the global economic crisis than previously assumed.
Norway SWF's share strategy prompts record loss
Norway's Government Pension Fund - Global booked its steepest yearly loss in its ten-year history on Wednesday after its strategy to invest a higher proportion of its wealth in equities backfired
Old Lady begins quantitative easing
The Bank of England began its first round of gilt purchases on Wednesday, buying £2 billion ($2.8 billion) of the instruments outright in an attempt to boost the money supply.
AIG cutting costs, Bernanke assures senator
Ben Bernanke, the chairman of the Federal Reserve, has moved to soothe Congressional anger over the bailout of American International Group (AIG), saying that the beleaguered insurer had been forced to adhere to strict cost-cutting measures, according to…
NY Fed names new senior VP for cash and custody
James Narron is the new senior vice president responsible for the cash and custody function at the New York Federal Reserve.
Recovery a long way off: Wellink
Despite strong interventions, recovery of the banking system seems a long way off, said Nout Wellink, the president of the Netherlands Bank and chairman of the Basel Committee on Banking Supervision.
Japan must take active role in regulatory revamp
Japan should be prepared to play an active part in the discussions over a new international system of financial regulation, said Atsushi Mizuno, a member of the Bank of Japan's Monetary Policy Council.
Sacking preferable to lower pay for firms
Firms prefer to sack workers rather than cut their pay, a new paper from the National Bank of Belgium reveals.
Barbados' Williams: watch conglomerates
There is further room for improvement in conglomerate supervision, said Marion Williams, the governor of the Central Bank of Barbados.
Zambia asks IMF for help to boost reserves
Zambia is in talks with the International Monetary Fund (IMF) for loans of about $200m to help bolster its foreign-currency stockpile.
Taking Santiago forward: a 12-point plan
Sven Behrendt, an associate scholar at the Carnegie Endowment for International Peace, presents a blueprint for a 12-point action plan on how the International Working Group of Sovereign Wealth Funds could move forward with the industry code of conduct…
IMF sees global economy shrinking in 2009
The world economy is set to shrink in 2009, the head of the International Monetary Fund (IMF), said on Tuesday.
PMA's Alwazir: reform agenda continues
The recent escalation of the conflict with Israel wreaked havoc on Gaza's banking sector. But the Palestine Monetary Authority (PMA) has ploughed on with its reform efforts
Bernanke moots Fed for systemic-risk role
Ben Bernanke, the chairman of the Federal Reserve, on Tuesday called for the Fed to be involved in "some capacity" in monitoring system-wide threats to financial markets. His comments came as part of a raft of proposals to overhaul regulation in America…
BoJ may need to buy shares: ex-deputy Muto
Toshiro Muto, a former deputy governor of the Bank of Japan who was in the running to succeed Toshihiko Fukui as head of the central bank, has admitted that the central bank may need to bolster the country's leading stock index.
Fed's Hoenig criticises Tarp
Thomas Hoenig, the president of the Kansas City Federal Reserve, has criticised the Troubled Assets Relief Programme (Tarp) for its lack of a clear set of principles and said that its implementation appears ad hoc and opaque in dealing with banks judged…
Report offers praise for derivatives players
A report from a group of central banks and financial regulators finds that financial-services firms, dealers, buy-side companies and service providers managed their credit derivatives in an orderly manner with no major operational disruptions or…
One-sector inflation model insufficient
One-sector models for determining the optimal rate of inflation are insufficient, finds a new paper from the Richmond Federal Reserve.
Bundesbank makes biggest profit since 2001
The Bundesbank posted €6.3 billion ($8 billion) profit last year, it emerged on Tuesday.
MNB responds to forint sell-off
The Hungarian National Bank said it is prepared to use all the policy tools available to defend the forint, which came under pressure on foreign exchange markets last week.
SEC to revamp whistleblower procedures
The Securities and Exchange Commission (SEC), the US stock-market regulator, has announced a sweeping review of the way it handles whistleblower complaints and tip-offs.
Tory report backs greater BoE role
A report commissioned by the opposition Conservative Party in the United Kingdom has suggested that the tripartite system for financial stability, involving the Bank of England, the Treasury and the Financial Services Authority (FSA) has failed and…