Central Banking
Joint statement on the crisis
The World Bank, the International Monetary Fund and the Organisation for Economic Co-operation and Development have issued a joint statement calling for policy action on four areas of the global economic crisis.
Fed to undergo "thorough review" of communication
Don Kohn, the vice-chairman of the Federal Reserve, will lead a committee to look at how much the central bank releases about its lending policies.
Carney sees "muted" 3.8% recovery in 2010
In testimony before parliament earlier this week, Mark Carney, the governor of the Bank of Canada, described the Bank's expectation of a 3.8% recovery in real GDP growth in 2010 as "muted".
Sri Lanka lowers rates as inflation falls
Sri Lanka's policymaking Monetary Board cut rates at its regular monthly meeting this week as figures showed inflation had moved into a rapid decline.
World Bank finds extra board seat for Africa
Sub-Saharan Africa will gain a seat at the Executive Board of the World Bank and developing countries voting power in the bank will be raised to 44% as part of governance reforms approved by the Bank's governing board.
Korea cuts again
The Bank of Korea has slashed interest rates for the sixth time in four months, bringing the cost of borrowing to a record low of 2% and suggesting that further cuts could be in store.
"Leaning against the wind" to rise - Stevens
Glenn Stevens, the governor of the Reserve Bank of Australia, expects the view that monetary policy should "lean against the wind" when asset prices are rising will gain in followers in the aftermath of the current market turmoil.
Finding equilibrium in complex markets
This IMF Working Paper provides a brief overview of the implications of computational complexity for economic modelling.
Kamezaki on the causes of the crisis
Hidetoshi Kamezaki, a member of the Bank of Japan's board, said economies and financial markets are constantly changing due to the expansion of the market economy and globalisation.
Mexico's Ortiz: crisis demanded FX strategy shift
The Bank of Mexico had to directly intervene in foreign-exchange markets for the first time for more than a decade earlier this month because of the severity of the impact of the crisis on currency trading, Guillermo Ortiz, the governor of the Bank of…
City regulator resigns after furore
Sir James Crosby has resigned as deputy chairman of the Financial Services Authority (FSA) in Britain, following allegations that he sacked a senior risk manager at HBOS, a bank Crosby headed, who raised concerns over the risk exposure of the bank.
King presents gloomy outlook
The Bank of England has revised its forecast for growth in the British down sharply and says the recovery will depend "to a significant extent on developments in the rest of the world where a severe economic downturn has taken hold."
Zim's Gono turns on rand anchor
The governor of the Reserve Bank of Zimbabwe, Gideon Gono, has been quoted as welcoming the idea of pegging the country currency to South Africa's rand.
Reactions to Tarp 2
Initial reaction on the new financial industry bailout plans announced on Tuesday, suggest that investors and observers are underwhelmed by the lack of details available at this stage and fear that the measures will continue to fall short of the…
NY Fed's Dudley: the Tips are good
The benefits of the treasury inflation protected securities (Tips) programme exceed its costs, said William Dudley, the president of the Federal Reserve of New York.
Swiss's Hildebrand - bring on tough regulation
The Swiss National Bank would give unconditional support to more stringent regulation, said Philipp Hildebrand, the vice-chairman of the central bank.
China's financial liberalisation success
Liberalisation of China's financial system reduced its vulnerability, posits a new paper from the Hong Kong Monetary Authority.
How to measure global inequality
World inequality cannot be measured with the same tools as applied at a national level, says a new research from the Bank of Italy.
Asian crisis, culture sparked imbalances: Zhou
The Asian financial crisis and a number of cultural factors triggered the build up in global imbalances seen as the underlying cause of the current crisis, Zhou Xiaochuan, the governor of the People's Bank of China, has said.
Geithner unveils sweeping Tarp overhaul
Timothy Geithner, the secretary of the US Treasury, has announced plans to take up to $500 billion in bad assets off the books of struggling banks and expand the Federal Reserve's programme to support asset-backed securities to $1 trillion from the…
Gono denies rand adoption plans - report
Gideon Gono, the governor of the Reserve Bank of Zimbabwe, has reportedly denied that the inflation-ravaged country is considering the adoption of the South African rand as its currency.
Bank Negara drafting new law - Zeti
Bank Negara Malaysia is drafting a new central bank law to go to parliament, said Dr Zeti Akhtar Aziz, the governor, in a speech at a conference to celebrate the institution's 50th birthday.
A setback for European payments
Terry Dirienzo, product and marketing director for Experian Payments, a consultancy, bemoans a French suspension of work on the Single Euro Payments Area (Sepa).
Basel's Wellink: link macro and micro supervision
Cooperation between macro- and micro-prudential supervisors should be strengthened, said Nout Wellink of De Nederlandsche Bank.