US dollar
Hong Kong and Indonesia link settlement systems
The Hong Kong Monetary Authority and Bank Indonesia adopt a real time payment-versus-payment link to remove settlement risk
Canada holds rates steady
The Bank of Canada keeps its key rate unchanged and cuts back its money market operations on the strength of the economy’s recovery
Let the yuan appreciate: leading Chinese think tank
Chinese Academy of Social Sciences argues for a one-off 10% appreciation of the yuan as international calls intensify
China should turn to oil: senior central banker
People’s Bank of China director says country should invest in oil and other resources; dismisses suggestion that reserve accumulation will force yuan appreciation
Bank of Finland’s Huhtala on reserve management post-crisis
Heli Huhtala, the head of investments in the Banking Operations Department at the Bank of Finland, discusses how the crisis will change the thinking on central banks’ reserve-management strategies
Crisis down to global imbalances: Obstfeld, Rogoff
Maurice Obstfeld and Kenneth Rogoff say global imbalances key source of crisis
Kazakhstan latest to step away from dollar
The National Bank of Kazakhstan, which has seen foreign currency reserves drop sharply, shifts towards euro on fears over the dollar’s weakness
Sri Lanka boosts gold holdings with IMF purchase
Central Bank of Sri Lanka buys 10 tonnes of gold from IMF, gold climbs higher
IMF to Hong Kong: beware of bubbles
International Monetary Fund looks at the potential macroeconomic implications for Hong Kong of accommodative monetary policy in the United States
Opposition leader slams RBNZ’s inflation-targeting focus
New Zealand’s main opposition leader says his party will withdraw support for the central bank’s inflation targeting framework
US policy threatens emerging markets: China’s top regulator
Chairman of China’s regulator says weak dollar and low rates are dangerous to the global economy; echoes recent comments from top Japan, HK officials
Interview: Marion Williams
Blair Baker spoke to the governor of the Central Bank of Barbados about the how the crisis has affected the island economy and the challenges she faces
How Yam secured his place in history
Tony Latter assesses the career of the recently retired Joseph Yam at the helm of the Hong Kong’s monetary authority.
Rand strength undesirable: SA finance minister
Pravin Gordhan, South Africa’s Minister of Finance says the government will aid the central bank building reserves
Strong Canadian dollar “threat to growth”
Mark Carney, governor of the Bank of Canada, says currency intervention is ineffective without supporting policies
Vietnam holds rates steady and commits to dong liquidity
Central bank's policy reflects anticipated year-end currency shortage
Global balance-sheet growth behind dollar scarcity
Bank for International Settlements looks at the causes of the dollar shortage in the global banking system during the crisis
Curaçao and Sint Maarten should dollarise – Tromp
Bank of the Netherlands Antilles’s Emsley Tromp says formal dollarisation would improve the islands’ macroeconomic stability
Banks will be held to their promises: Canada’s Carney
Mark Carney, governor of the Bank of Canada, warns financial institutions against complacency
Eichengreen sees dollar safe for now
The euro and the renminbi could both mount a strong challenge to the dollar’s status as the global reserve currency. But, as Berkeley economist Barry Eichengreen tells CentralBanking.com, must overcome some major obstacles before they can do so
Korea considering shifting dollar assets to gold
Korean central bank reportedly interested in diversifying reserves; favours gold over dollar
Swaps a success: SNB economists
Swiss National Bank researchers say swap agreements were highly effective low-cost solution to currency mismatches
Asian central banks propping up dollar: reports
Central banks buying dollars to prevent local currencies from appreciating against greenback
Trichet sees “pressing need” for fiscal responsibility
Announcing that interest rates would be kept unchanged, ECB president calls for governments to formulate realistic exit strategies