Central Banking
How Fed decisions impact share prices
The Federal Reserve's interest rate decisions impact equity prices around the globe. However, the impact varies considerably between firms. Research from the Fed uncovers several factors which account for these variations.
Denmark - Financial Stability Report
Denmark must implement a scheme of temporary capital injections to sound, well-managed banking institutions, says the latest Financial Stability Report from the National Bank of Denmark.
Canada inspired Mundell-Fleming model
Canada's experience with both an open capital account and floating exchange rate in the 1950s created the open-economy macroeconomics field, a paper from the Bank of Canada posits.
Fed justifies move to target range
The Federal Open Market Committee (FOMC) shifted from a key rate towards a target range owing to a lack of control over overnight market rates and to highlight the need to step up quantitative easing, the minutes of its December meeting reveal.
Czechs say fighting crisis a priority for EU reign
The Czech Republic will strive to enhance the transparency and stability of the European Union's (EU) financial system during its six-month presidency of the common market, Prague said on Tuesday.
Unexpected cuts highlight Asian export slump
The Taiwanese and Indonesian central banks surprised markets with rate cuts on Wednesday, both made as evidence mounted that 2009 will be a tough year for Asian exporters.
Gaza conflict demands SWF review: Oslo
Kristin Halvorsen, Norway's finance minister, has called for a review of the country's sovereign wealth fund investments as a result of the conflict in Gaza.
Regional Feds announce new chairmen
Three of the 12 regional Federal Reserves have named new chairmen for their boards of directors in 2009.
Fed not out of ammo, says SF's Yellen
The Federal Reserve still has the tools to stimulate the economy even with interest rates at next to zero, said Janet Yellen, the president of the San Francisco Fed.
Hungary likely to miss inflation target - governor
Hungary's central bank is likely to undershoot its inflation target, admitted the governor, Andras Simor.
Bernstein: €9bn needed to save Danish banks
Nils Bernstein, the governor of the Danish central bank called on the public sector to provide Dkr70 billion (€9 billion) capital to the banking sector.
Lower inflation gives Manila scope to cut
Inflation in the Philippines fell by almost two percentage points, affording the central bank the opportunity to consider cutting rates further.
Romania's Isarescu on euro adoption
Romania's objective of joining the euro area in 2014 is within reach, said Mugur Isarescu, the governor of the National Bank of Romania.
Principles for sound stress testing
A new consultative paper from the Basel Committee on Banking Supervision presents sound principles for the governance, design and implementation of stress testing programmes at banks.
France's Noyer: sound risk management crucial
Financial regulation is not a substitute for financial institutions' sound and efficient management framework, said Christian Noyer, the governor of the Banque de France.
Competition lowers bank-market spreads on loans
Banks price their loans more in line with the market interest rate in countries with stronger loan market competition, says a new paper from the Bank of Spain.
HKMA's Yam outlook for 2009
The chief executive of the Hong Kong Monetary Authority set out why he thinks 2009 will be a "challenging" year.
Sweden's Ingves on the crisis and beyond
"Despite the gloomy outlook for next year, there is still some light at the end of the tunnel," said the governor of Sweden's central bank in a new year's eve post.
Balassa-Samuelson revisited
A new paper from the Bank for International Settlements finds that Balassa-Samuelson effects are clearly present in 11 euro accession countries and that these explain around 24% of inflation differentials vis-a-vis the euro area.
MPC minutes: Egypt
The Central Bank of Egypt's Monetary Policy Committee decided to keep rates unchanged at 11.5% owing to high inflation, the minutes of the meeting on 25 December explained.
India's central bank cuts again
The Reserve Bank of India cut rates by a percentage point for the second time in less than a month and eased deposit requirements for commercial banks in a bid to limit the impact of the financial crisis.
Euro adds to Slovakia's New Year celebrations
Slovakia became the 16th country to join the Eurosystem on New Year's Day, an achievement few predicted would happen so soon after it joined the European Union less than five years ago.
Shirakawa warns on yen strength
The governor of the Bank of Japan, Masaaki Shirakawa, highlighted the damage the yen's strength was having on the economy and served notice that the central bank stood ready to act.
Polish policymaker flags half-point cut
Marian Noga, often portrayed as a hawk on the National Bank of Poland's ten-member rate-setting panel, said rates could be lowered by half a percentage point at the next meeting.