Asset bubble
Central banks after the crisis: many questions, few answers
The turmoil has left our profession facing some uncomfortable truths, Mojmír Hampl notes.
Chinese house prices overvalued in some places: HKMA research
Hong Kong Monetary Authority study shows prices outstrip fundamentals in some market segments; points to importance of early warning mechanism
Riksbank’s Nyberg challenges Svensson over monetary policy framework
Riksbank deputy governor Lars Nyberg says monetary policy must support macroprudential policy; comments contrast with Svensson’s calls for monetary policy to focus on price stability
Plosser: focus on real, not nominal, rates
Philadelphia Federal Reserve president Charles Plosser suggests targeting interest rates to lean against strong asset-price growth
ECB’s Stark: central bank’s more likely to react to asset-price growth
European Central Bank executive board member Jürgen Stark says central banks more likely to lean against against asset prices in future
IMF’s Viñals envisages financial system of the future
IMF director of monetary and capital markets José Viñals lays out vision of future financial system; says financial stability will need to be integrated in monetary policy decisions although price stability should remain central banks’ primary mandate
Take more proactive role in macroprudential policy, DSK tells Asia
IMF managing director Dominique Strauss-Kahn says emerging markets should lead by example and complement strong recovery with sound macroprudential policies
The dangers of Bernanke’s calls for change
Fed chairman Ben Bernanke’s calls for more research into areas of economics underexplored by central bankers is commendable, but translating this into policy has its risks, writes Claire Jones
Fed’s Yellen: macroprudential policy must balance rules and discretion
Federal Reserve vice chair Janet Yellen says macroprudential supervisors should be guided by fixed rules, but have discretionary capacity to surprise firms
Rajan, Krugman renew spat
Ex-IMF chief economist Raghuram Rajan and Nobel laureate Paul Krugman revive clash over central banks' role in the crisis
Ageing to drive down asset prices
Bank for International Settlements research says demographic trends will reduce house prices significantly
Taiwan’s Perng calls on banks to curb housing boom
Taiwanese central bank governor Perng Fai-nan demands lenders tighten rules in order to stifle exuberance in housing market; real estate loans worth more than half the island’s GDP
Botswana’s Mohohlo lauds accountants
Bank of Botswana governor Linah Mohohlo says accountants more than just number crunchers, pointing to expanding and evolving roles; outlines efforts in restoring good governance standards
EXCLUSIVE: We must review how monetary policy impacts prices, says Plosser
President of Philadelphia Fed says central bankers need to rekindle research into monetary transmission in order to better understand relationship between monetary policy and inflation
China bubble unlikely to derail recovery: St Louis Fed's Bullard
St Louis Federal Reserve president James Bullard says concerns over bubble in China are over exaggerated
Korea's Kim joins push for update to central banks' mandates
Bank of Korea governor Kim Choong-soo calls for rethink on attachment to price stability; says central banks should be equally observant of financial stability
Mix of bad luck and policy fuelled credit boom in Eastern Europe
IMF research finds both bad luck and poor policymaking led to credit boom in new EU member states
Interview: Howard Davies
The founding chairman of the UK Financial Services Authority discusses Britain’s new regulatory architecture, weaknesses in the European Central Bank’s voting arrangements, and how inflation targets need to change
Eurozone crisis weighs on Swiss exit plans: SNB's Jordan
Swiss National Bank deputy head Thomas Jordan says normalisation of monetary policy hampered by eurozone debt crisis
Malaysia's Mahathir: Islamic finance must not follow western banking model
Malaysia's former prime minister Mahathir calls for more regulation of banking sector and repudiates western model on banking
Dallas Fed - Annual Report 2009
Dallas Fed report for 2009 looks at causes of financial crisis and outlines shape of new policy
IMF: Russian housing market vulnerable to external shocks
IMF paper shows house prices in former Soviet countries are vulnerable to foreign capital inflows in open economy model
NY Fed's Dudley demands new bubble-bursting tools
New York Fed president calls for a judgment-based approach to dealing with asset price bubbles
Hoenig calls for Fed to lean against the wind
Kansas City Fed president challenges fundamental tenet of Greenspan-era central bank