Central Banking
IMF sticks with $1 trillion write-down estimate
The International Monetary Fund (IMF) said on Monday it was standing by its estimate that subprime write-downs would end up totalling something close to $1 trillion despite research by the Bank of England suggesting that losses would be a lot lower.
Shirakawa: consider cross-border collateral
Central banks should consider expanding their operation in terms of providing credit through cross-border collateral, said Masaaki Shirakawa, the governor of the Bank of Japan.
Australia's banks bulk up bonds
Australian banks increased their bond issuance in the first half of 2008 partly as precaution in case of the global financial turmoil worsening, said Guy Debelle, an assistant director of the Reserve Bank of Australia.
Why South Africa avoided the crunch
South African banks have been mostly insulated from the global turmoil as the banking sector has had no direct exposure to the subprime mortgage market, reports the South African Reserve Bank's bank supervision department.
Czech financial assets growth sluggish
Growth in the total financial assets in the Czech economy dipped in the first quarter of 2008 to 1%, according to a quarterly financial accounts report from the Czech National Bank.
Inflation too high - Fed's Plosser
Inflation is already too high and inconsistent with the Federal Reserve's goal of price stability, said Charles Plosser, the president of the Federal Reserve Bank of Philadelphia.
Turkey adjusts inflation forecast
Significant increases in the prices of oil and food led to an upward revision in the inflation forecast and mean further monetary tightening will be needed, according to the latest inflation report from the Central Bank of the Republic of Turkey.
Barbados feels the crunch
In the first half of the year, Barbados's economy suffered under the weight of high oil and commodity prices and the slowing global economy, reports the Central Bank of Barbados in its economic review.
What makes T-bond prices jump?
Price jumps in US Treasury bonds occur mostly during prescheduled macroeconomic announcements or events, finds a new paper from the Bank of Canada.
Fed's Mishkin proposes communications changes
Frederic Mishkin, an outgoing governor of the Federal Reserve, believes the central bank needs to make a raft of improvements to its communication policy.
Research suggests Sarkozy's ECB ire unjustified
Though it is unlikely to placate Nicolas Sarkozy, France's president, new research has found the European Central Bank (ECB) is more transparent than the national central banks of the eurozone members were before the introduction of the euro.
Israel continues to hike despite inflation dip
The Bank of Israel will raise its benchmark rate to 4% in August in spite of signs price pressures are easing.
Obama praises Bernanke
Barack Obama, the Democratic candidate for the US presidency, has commended Ben Bernanke, the chairman of the Federal Reserve, for his response to the recent economic upheaval.
Brazil's Lula defends central bank's independence
Luiz Inacio Lula da Silva, the president of Brazil, has underlined his support for the central bank's autonomy after the institution decided last week to make its biggest rate hike in more than five years.
BoE's Bean on the inflation threat
Charles Bean, a deputy governor at the Bank of England, has explained how the Bank is trying to balance upside and downside risks to inflation against each other.
Some preconditions for inflation targeting
The main macroeconomic preconditions for adopting an inflation-targeting regime are high levels of financial development, GDP per person and trade openness, finds a new paper from the Central Bank of Chile.
EU needs more crisis coordination
European Union financial regulators need to improve crisis prevention and management, and their supervisory structures, says research from Deutsche Bank.
BoJ series on Japan's economic trends
The Institute for Monetary and Economic Studies at the Bank of Japan has published a series of discussion papers covering a host of domestic economic and financial issues.
Fed and SEC vie to regulate investment banks
The heads of Securities and Exchange Commission and the New York Federal Reserve made the case for their institution to supervise investment banks before US lawmakers.
Discount window borrowing hits fresh high
US commercial banks borrowed an average of $16.8 billion per day from the regional Federal Reserves' discount windows in the week to Wednesday, the highest-ever amount.
Zimbabwe plans reforms to ease consumers' plight
The Reserve Bank of Zimbabwe is to publish plans aimed at alleviating the impact of hyperinflation on consumers, Gideon Gono, the governor of the central bank, said on Thursday.
Japanese inflation spikes to 1.9%
Annual core inflation in Japan soared by almost half a point in the year to June to 1.9%, up from 1.5% the previous month.
ECB's Liebscher: we could hike again
Klaus Liebscher, the governor of the National Bank of Austria and a member of the European Central Bank's (ECB) rate-setting council, said rates could rise again in the coming months.
Ecuador's central bank chief quits
Robert Andrade, the president of the Central Bank of Ecuador, has resigned after less than five months in charge.