Financial crisis
Yellen: Fed won’t inflate debt away
San Francisco Fed’s Janet Yellen tells LA town hall inflation will not run rampant so long as Fed retains independence
Italy’s Draghi favours “enforcement” over European Fund
Bank of Italy governor Mario Draghi says a new pact should be drawn up to enforce fiscal discipline, rather than building a continental version of the IMF
Lockhart: Fed inflation anchor under threat
Atlanta Fed’s Dennis Lockhart warns that inflation expectations may be dislodged as a result of accommodative Fed stance
Svensson: Riksbank needs to be more forceful
Riksbank deputy Lars Svensson explains Sweden’s response to crisis and draws on lessons for future
Merkel and central bankers clash over Greek fix
Bundesbank shows reluctance to back Merkel; ECB president Trichet pushes for European rescue fund to aid beleaguered eurozone members
Bernanke: too-big-to-fail problem “unconscionable”
Fed chairman Ben Bernanke calls for a revision of regulation on firms, which are “too big to fail”
Fullani: reassures parliament on steady recovery
Bank of Albania governor Ardian Fullani reassures lawmakers of continued growth following IMF performance review
Top-level Swiss committee to fix "too big to fail"
Liquidity and "too big to fail" will dominate agenda for Steering Committee bridging central bank and regulator’s boards, says FINMA’s Zuberbühler
SNB, Finma set up stability steering group
Central bank and regulator intensify their collaboration on financial stability
ECB’s Stark: global economy is heading for lost decade
Jürgen Stark says failure to learn from the crisis would result in anaemic global growth for the next ten years
Stimulus is not the bulk of debt: Fund’s Lipsky
International Money Fund first deputy John Lipsky says underlying increases in spending and lower taxes from financial sector underpin the debt burden, rather than stimulus
Fed’s Fisher: break up the big banks
Dallas Federal Reserve’s president gets tough on those deemed too big to fail
MPC’s Miles leaps to the defence of QE
Rate-setting committee’s external member David Miles says the Bank’s asset purchase programme has shored up the private sector despite focus on gilt purchases
Brazil jacks reserve ratio up by 200 bps
Central Bank of Brazil lifts reserve requirement ratio back to pre-crisis level, move is expected to withdraw more than 70% of liquidity provided during crisis
Towards a new framework for monetary policy
Jacques de Larosière argues that monetary policy played a major role in the run-up to the financial crisis and that a new operational framework is needed
Bank of Uganda – Financial Stability Report
Ugandan central bank publishes inaugural report detailing the health of the financial sector and documenting policy moves taken to combat the crisis
When experts fail
Frank Vibert explores the lessons of the crisis for regulators. The key is not to re-politicise markets but to improve the disciplines that regulators follow
When to exit?
In Central Banking’s second webinar, sponsored by BNP Paribas Securities Services, Charles Goodhart, Lucrezia Reichlin, Paul Mortimer-Lee and Gabriel Stein discussed when central banks should raise rates