Financial crisis
Central banks partly to blame: UK MPs
Though banks were ultimately culpable, central bank must acknowledge a share of the blame for the financial crisis, an influential group of British lawmakers has said.
Trichet emphasises lack of confidence
Jean-Claude Trichet, the president of the European Central Bank, has claimed the role of policymakers in this stage of the crisis is to restore confidence.
Iceland's Oddsson says he did spot flaws
David Oddsson, the former governor of the Central Bank of Iceland who presided over the country's financial meltdown, has said he did warn of the dangers posed by the country's over-reliance on the banking sector.
BoE's Haldane on lessons from natural disasters
There is much to be learnt on dealing with financial crises from natural disasters, Andrew Haldane, the executive director for financial stability at the Bank of England, has noted.
Bank publishes first QE quarterly
Quantitative easing by the Bank of England has succeeded in reducing gilt yields, and narrowing spreads on commercial paper and corporate bonds, but the Bank on Monday cautioned that it will take some time to determine the full effect of its purchases.
EU devises new rules for rating agencies
The European Parliament on Thursday approved a batch of rules aimed at enhancing the transparency and performance of credit rating agencies, under fire for their role in the crisis.
RBI's Mohan wants rethink on asset-price bubbles
The relationship between monetary policy and asset prices needs to be revisited, said Rakesh Mohan, a deputy governor of the Reserve Bank of India.
Markets bought Paulson "teaser freezer" plan
Research from the Richmond Federal Reserve shows that investors were initially optimistic that former US Treasury secretary Hank Paulson's so-called "teaser freezer" plan would improve economic conditions.
Denmark's Bernstein admits options running out
Nils Bernstein, the governor of the National Bank of Denmark, has acknowledged that the central bank is running out of room to manoeuvre.
Canada suffers record contraction
Canada's GDP contracted by an annualised rate of 7.3% in the first quarter of 2009, the fastest rate on record, according to the Bank of Canada.
Bernanke, Paulson forced Merill deal: BoA chief
Ben Bernanke, the chairman of the Federal Reserve, and Hank Paulson, a former US treasury secretary, have been accused of pressurising Bank of America to go ahead with their takeover of investment bank Merrill Lynch after they attempted to back out of…
World economy in deep recession: IMF
The global economy will contract by 1.3% in 2009, the International Monetary Fund (IMF) has said, even with determined efforts by governments to restore national financial sectors to health.
DSK: a mandate for change
The G20 summit in London has created a mandate for change, said Dominique Strauss-Kahn, the managing director of the International Monetary Fund (IMF).
Toxic assets must be removed: RBA's Stevens
Siphoning the toxic assets that plague banks' balance sheets is the first step in overcoming the current crisis, Glenn Stevens, the governor of the Reserve Bank of Australia, has said.
Spain's governor feels the heat
Maria Teresa Fernandez de la Vega, deputy head of Spain's Socialist government has criticised the governor of the central bank, Miguel Angel Fernandez Ordonez, for being "alarmist" about the state of financing of the country's pension system.
Beige Book points to slowing downturn
The Federal Reserve's Beige Book, a survey of economic conditions compiled by the 12 regional Feds, has provided further evidence that the rate at which the United States economy is shrinking is falling.
G20 working group: development banks must lend now
Multilateral development banks and other international financial institutions should step up their counter-cyclical efforts to offset capital flight from emerging markets, says a report from a working group prepared for the G20 London summit.
US working on stress-test disclosure: report
Washington is working on proposals to disclose the results of its stress tests on the 19 biggest American banks, say reports.
Bernanke sees shoots of recovery
There are tentative signs that the sharp decline in economic activity may be slowing, said Ben Bernanke, the chairman of the Federal Reserve.
Iceland's Oygard optimistic on recovery
Svein Oygard, the new governor of the Central Bank of Iceland, is confident that the country can become an exemplar of how to conduct a swift economic recovery.
G20 working group: amend Bretton Woods governance
Emerging and developing economies should have greater voice and representation in Bretton Woods institutions, says a report from a working group prepared for the G20 London summit.
Fisher hints at new anti-inflation tools for Fed
Richard Fisher, the president of the Dallas Federal Reserve, gave the clearest signal yet that the central bank will soon be handed new tools to counter the inflationary impact of its crisis-fighting measures.
IMF: toxic-debt bill to hit $4 trillion - report
The International Monetary Fund (IMF) is allegedly set to release new forecasts showing the cost of writedowns could reach $4 trillion, a leading British newspaper has reported.
Fed's Warsh: panic may have long-run impact
The panic that has marked the current financial and economic turmoil may also have long-run implications, said Kevin Warsh, a governor at the Federal Reserve.