Central Banking
NY Fed's Dudley on the crunch's causes
The recent market turmoil has been driven by two developments, says William Dudley, an executive vice president of the New York Federal Reserve.
IMF on the progress of financial integration
Financial integration has progressed significantly worldwide, particularly in emerging markets, research published by the International Monetary Fund finds.
Issue of rising food prices needs reflection
The recent surge in food prices requires careful consideration not knee-jerk reactions, Norbert Walter, the chief economist for Deutsche Bank Group, notes.
Extend Fed's regulatory power: Volcker
The Federal Reserve's role as a financial regulator must be expanded given its recent assistance to Bear Stearns and other investment banks, Paul Volcker, a former chairman of the Fed, said.
Fed should have spoken out on housing bubble
The Federal Reserve should have done more to alert American consumers to the bubble in the real estate market, Robert Shiller, an economics professor at Yale, said in an exclusive interview with Central Banking, published on Thursday.
Libya announces improvements for banking sector
In a bid to reform the Libyan banking sector, the country's central bank has modernised its open market operations and payments systems.
Iranian governor opposes president on rates
Tahmasb Mazaheri, the governor of the Central Bank of Iran, has clashed with President Mahmoud Ahmadinejad over the president's decision to set bank rates between ten and 12%, local media reports say.
Crisis shows need for capital cushions: Bernanke
The recent turmoil underscores the importance of generous capital cushions for protecting against adverse conditions in financial and credit markets, Ben Bernanke, the chairman of the Federal Reserve, noted.
Islamic finance must follow global codes
Islamic financial institutions must ensure that they comply with international best practices on supervision, Zeti Akhtar Aziz, the governor of Bank Negara Malaysia, has said.
Asia remains strong: Pakistan's Akhtar
The Asian economy will continue to perform well despite the recent global financial market turmoil, Shamshad Akhtar, the governor of the State Bank of Pakistan, predicted.
Bank of Canada Review - spring 2008 edition
The Bank of Canada has published the spring edition of its Economic Review.
Zimbabwe prints Z$500m note
The Reserve Bank of Zimbabwe said on Thursday it will circulate a note worth Z$500m ($2,44).
King readies pen as BoE predicts prices to soar
Mervyn King acknowledged on Wednesday that he would almost certainly need to write at least one letter to the British chancellor in the coming months explaining why inflation is more than a percentage point above the Bank of England's target.
We did not repay $700m debt: Zimbabwe's Gono
Gideon Gono, the governor of the Reserve Bank of Zimbabwe, has denied that the institution recently repaid a $700m African Development Bank loan.
Liquidity scheme stabilising markets: BoE staff
The Bank of England's governor and head of markets said on Wednesday that its Special Liquidity Scheme, introduced in late April, had begun to temper money-market tensions.
Interbank spreads to stay above pre-crisis levels
A fundamental shift in money-market attitudes will mean spreads between interbank and official rates remain greater than their pre-August levels for the foreseeable future, the Bank of England's head of markets said on Wednesday.
SA's Mboweni hints at further tightening
Tito Mboweni, the governor of the South African Reserve Bank, said on Tuesday that the institution would do its job of controlling inflation "come hell or high water".
Fed's Rosengren on risk management
The recent financial turmoil has highlighted both the benefits and the challenges associated with pursuing risk management, Eric Rosengren, the president of the Boston Federal Reserve, said.
Can disclosure damage supervision?
The latest edition of the Richmond Federal Reserve's Economic Quarterly discusses whether supervisors should disclose information about the banks they assess.
Tensions could re-emerge: Riksbank deputy
Despite positive signs in recent weeks, it is still too early to assume that financial markets will return to normal without any further disruptions, Barbro Wickman-Parak, a deputy governor at the Riksbank, warned.
HKMA's Yue on Islamic finance
Greater efforts must be made to establish a level playing-field between the conduct of Islamic finance business and conventional activities, Eddie Yue, a deputy chief executive at the Hong Kong Monetary Authority, noted.
Bernanke cautiously upbeat on liquidity
Ben Bernanke, the chairman of the Federal Reserve, signalled on Tuesday that he believed liquidity conditions in the US were slowly returning to normal.
Inflation surge surprises UK economists
Consumer price inflation in the UK soared to 3% in April, reducing the already-slim chances of a June rate cut to practically nil.
I won't intervene in central bank policy:Turkey PM
Recep Tayyip Erdogan, Turkey's prime minister, has said that the government will not involve itself in central bank policy.