Central Banking
CEE regulators condemn stability "misperceptions"
Six central and eastern European regulators on Wednesday jointly attacked the recent coverage of their economies, labelling it misleading, oversimplified and potentially harmful.
Name and shame borrowers: senator tells Fed
Bernie Sanders, a senator representing the state of Vermont, has blasted Ben Bernanke, the chairman of the Federal Reserve, for refusing to disclose the recipients of Fed funds.
UAE establishes crisis group
The Central Bank of the United Arab Emirates said on Wednesday that it would set up a group to tackle the impact of the credit crisis on the seven states.
Nigeria's Soludo: adjustment an opportunity
Charles Soludo, the governor of the Central Bank of Nigeria, has said that exchange-rate adjustment is an opportunity.
Nationalisation a possibility for one or two
Full nationalisation may prove necessary as a last resort for one or two of the larger United States banks, says a new paper from the Brookings Institution.
Buba's focus on output-growth gap significant
The Bundesbank's response in 1970s and 1980s to the output-growth gap under monetary-growth targeting was highly significant, posits a new paper from the European Central Bank.
National Bank of Belgium - Annual Report 2007
The changing environment in which the National Bank of Belgium is evolving has greatly altered its personnel needs, says the central bank in its latest Annual Report.
Japan to use currency reserves to aid economy
Japan's government unveiled plans on Tuesday to use some of the country's foreign currency reserves to help its firms.
Unconstitutional Fed aid a threat to independence
The Federal Reserve risks incurring the wrath of Congress and limiting its independence with its credit policy, Jeffrey Lacker, the president of the Richmond Federal Reserve and a voting member of the Federal Open Market Committee, has warned.
IMF staffer urges global effort to stem deflation
An International Monetary Fund (IMF) economist has called on central bankers to begin multilateral talks to stave off worldwide deflation.
Greece appoints new deputy governor
Ioannis Papadakis was sworn in as deputy governor of the Bank of Greece on Tuesday.
Iceland selects chief economist for new MPC
Reykjavik appointed Thorarinn Petursson, the Central Bank of Iceland's acting chief economist, to its newly-created Monetary Policy Committee on Tuesday.
Canada lowers again, may boost money supply
The Bank of Canada cut its benchmark rate to a record low of 0.5% on Tuesday, saying that recent data had revealed a worse-than-expected slowdown. The central bank also said that it could raise the money supply through quantitative or credit easing.
Stimulus won't work without stability: Bernanke
President Barack Obama's fiscal stimulus is unlikely to have the desired effect unless the financial system stabilises, Ben Bernanke, the chairman of the Federal Reserve, told lawmakers on Tuesday.
Turkey justifies steep cut
The Central Bank of Turkey cut rates by 150 basis points last month on signs that inflation would undershoot its 7.5% target for this year, the minutes for the 19 February meeting reveal.
Finance must attract top talent: Zambia's Fundanga
Caleb Fundanga, the governor of the Bank of Zambia, has said the country must encourage its brightest prospects to pursue a career in finance in light of the economic challenges that the country is likely to face.
Central Bank of Sudan - Annual Report 2007
The Sudanese economy expanded rapidly in 2007 but was hampered by high inflation, the country's central bank said in its Annual Report.
Denmark names new departmental heads
The National Bank of Denmark has chosen Ove Sten Jensen and Ib Hansen as the new heads of departments for its government debt management and in its market operations wings.
Fed forced to drop tough loan rules to save AIG
The Federal Reserve has had to relax the terms of its support to American International Group (AIG) in its latest bid to save the world's largest insurer.
Morgan Stanley's Roach on central bank independence
The chairman of Morgan Stanley Asia, a bank, argues that central banks have not made the most of their new-found independence
Nigeria agrees to house continental central bank
Africa took a step closer to creating a single central bank on Monday after it emerged that the African Union, a body devised to foster economic integration in the region, and Nigeria would sign an agreement to create a regional central bank in Abuja…
Crisis predictable, mirrors previous episodes: BIS
Economists at the Bank for International Settlements (BIS) have found that the current financial turmoil was, like other bouts of market stress, preceded by easily identifiable build ups in credit expansion and risk-taking.
Avoid Tokyo's mistakes to combat deflation: Ito
Takatoshi Ito, a prominent economist, has urged global monetary authorities to learn from Japan's errors in order to successfully stave off a nasty bout of deflation.
Media inaccurate in portrayal of CEE's plight
Miroslav Singer, a vice governor at the Czech National Bank, tells CentralBankNews.com why the media's recent treatment of the problems in central and eastern Europe bears scant resemblance to the reality in some countries in the region.