Central Banking
Comment: Unresolved collateral issues remain
The news that the ECB will only accept sovereign debt with an A- rating or higher as collateral for repurchase agreements and other collateral financing trades with commercial banks will help to instil fiscal discipline on member countries in the long…
BoJ research paper on corporate earnings
A Bank of Japan research paper notes that corporate earnings have been greatly increasing in Japan over the last three years as business conditions continue to recover.
BoE: no rates change
The Bank of England left its main interest rate yesterday, 9 November, unchanged at 4.5% for the third month in succession. The decision was widely expected after recent comments by Mervyn King, governor of the Bank, indicating he was against rate cuts.
Fed governor testifies on Basel II
Federal Reserve governor Susan Schmidt Bies testified on 10 November before the US Senate committee on banking, housing, and urban affairs on the implementation of Basel II and revisions to Basel I.
French economy's lights "turn green"
Economic growth in France picked up in the third quarter, while inflation subsided in October. Data released on 10 November showed that the economy expanded by 0.7 percent in the third quarter, while October inflation figure was down to 2 percent…
Drop exchange controls: SARB's Mboweni
South African Reserve Bank (SARB) governor raised some eyebrows on Wednesday evening, when he told a conference audience in Cape Town that the country's remaining foreign exchange controls have become "purposeless" should be abolished.
ECB's Target 2 delayed
The ECB has announced that the launch of Target 2 has been further delayed. The first group of countries will move to the EU's new large-value payment system on 19 November 2007, 11 months later than originally planned.
ECB Monthly Bulletin for November
The ECB's Monthly Bulletin for November was released yesterday, 9 November. In addition to its regular discussion of economic development in the eurozone, the report contains articles on price-setting behaviour, developments in corporate finance and…
Comment: Activism the ECB way
Yesterday, 9 November, Jean-Claude Trichet explained how the ECB's decision to leave interest rates unchanged for more than two years should not be equated to non-activist monetary policy.
Aid response "not so great" - Husain
Pakistan's central bank governor, Dr Ishrat Husain, has expressed his disappointment at the "not so great" aid response to the devastating earthquake which hit the country last month.
PBoC unhappy with oil pricing system
China's central bank noted in its quarterly monetary report that the country needed to reform the way oil prices are set.
McCreevy favours legal action over Fazio
European Union (EU) internal market commissioner, Charlie McCreevy, said on Tuesday that he favoured legal action against Italy over the way the country's central bank handled two foreign bank takeover bids earlier this year.
EC report on lack of financial sector integration
The European Commission has presented a preliminary analysis of why there has been little cross-border consolidation in the EU financial sector.
Book on Economic Integration in South East Asia
The research department of the Nepal Nastra Bank's international financial division recently published a book on economic integration in South East Asia.
Turkish interest rate cut
The Central Bank of Turkey (CBRT) yesterday, 8 November, cut short-term interest rates by 25 basis points, bringing the overnight borrowing rate and the lending rate to 13.75 percent.
ECB's Weber sees inflation risks
Bundesbank president and ECB governing council member, Axel Weber, told reporters at a news conference on 8 November that risks to price stability have increased in the eurozone in recent weeks, primarily due to a rebound in economic growth, soaring oil…
Comment: The ECB clarifies collateral policy
President Jean-Claude Trichet's clarification yesterday that the ECB would only accept sovereign debt with a rating of A- or higher as collateral for loans to commercial banks, is likely to have policymakers in Italy and Greece and a number of eurozone…
ARB sees "modest" inflation threat
The Australian Reserve Bank said in its monetary policy statement released on Monday 7 November that it expects "a modest" increase in inflation rate and hinted that interest rates would remain on hold this year.
BoK feels the pinch
Bank of Korea (BoK) officials are up in arms about alleged plans by the government to scrap some of the central bank's 16 regional headquarters and cut its payroll.
Brazilian CB reduces number of meetings
The Central Bank of Brazil will lengthen the period between its interest rate policy meetings to 44 days from the current 30 days.
Colombian CB continues to sell reserves
The Colombian central bank sold $114 million in foreign exchange reserves to the government last week.
Euro ministers warn against rate hikes
Finance ministers meeting in Brussels renewed their calls for the European Central Bank to refrain from interest rates hikes.
G10 report on pension reform released
A report on the implications of ageing and pension system reform for financial markets and economic policies, requested by the Group of 10 was released earlier this week.
Georgian battle over CB capital
The National Bank of Georgia (NBG) and the government look set for a stand-off over the bank's capital.