Imbalances
Brazil raises reserve ratio to ease impact of capital inflows
Central Bank of Brazil lifts reserve requirement ratio in bid to stem inflationary pressures resulting from capital inflows
Iceland at economic crossroads: Guðmundsson
Central Bank of Iceland governor Már Guðmundsson says Iceland must now reconnect with global markets to build solid foundation for growth
RBNZ’s Bollard: external shocks and internal rebalancing will prolong recovery
Reserve Bank of New Zealand governor Alan Bollard says Western countries have to contend with both external shocks and internal rebalancing
DSK: surplus countries can rebalance growth
IMF managing director Dominique Strauss-Kahn says addressing global imbalances requires shift in surplus countries’ growth drivers
Korea’s Kim says volatile capital flows can be suppressed
Bank of Korea governor Kim Choong-soo says sound macroeconomic policies can mitigate volatile capital flows
King demands collaboration
Bank of England governor Mervyn King says countries must reach collective solution over global imbalances or risk crippling the global economy through protectionist policies
BoK’s Kim: Asia needs stronger domestic demand
Bank of Korea governor Kim Choongsoo says domestic demand can aid structural imbalances in Asia
IIF calls for accord to fix imbalances
Institute for International Finance (IIF) says major economies must broker agreements on critical macroeconomic and exchange-rate issues
Mersch calls for clear government fiscal strategy
Central Bank of Luxembourg president Yves Mersch says sending clear message to restore fiscal sustainability is key to economic recovery
Price stability must remain top priority: SNB’s Jordan
Swiss National Bank’s Thomas Jordan flags difficulties in using monetary policy to counter financial imbalances
Bank of Canada on inflation expectations
Bank of Canada Review features articles on targeting inflation expectations, rate pledges and using monetary policy to tackle imbalances
BoK minutes: Holding rates could cause economic imbalances
Bank of Korea Monetary Policy Committee minutes show decision to hold rates was not so clear cut
CEPR: market liberalisation exacerbated credit crunch
Centre for Economic Policy Research study on financial crisis finds countries with deregulated markets were most negatively affected in credit markets
France's Landau on how to deal with global imbalances
Banque de France second deputy governor Jean-Pierre Landau says debate should focus on removing policy-induced distortions
The case for reserve currency competition
A competitive market for reserve currencies would help remove global imbalances, says Ousmène Mandeng
Fed’s Kohn: US still vulnerable from global imbalances
Federal Reserve vice chairman Donald Kohn says fiscal restraint needed in US to level global imbalances
Norges Bank: Financial Stability Report
Norges Bank’s bi-annual Financial Stability Report shows a positive outlook for the Norwegian economy despite instability in Europe
ADB's Kuroda pushes agenda for economic integration in Asia
Asian Development Bank president Kuroda hails Asian rebound but calls for commitment on wider integration of region
Central Bank of Iran – Annual Report 2008/09
Oil price declines dominate Iranian report
Bank of Canada: Monetary Policy Report April 2009
Bank maintains its benchmark interest rate steady, but report signals plans to begin to lessen the degree of monetary stimulus as the need for extraordinary policy passes
Bank of Canada highlights requirements for global recovery
Study shows a rebalance in global current account necessary for sustainable growth
“We failed the system”: Carney at RBI panel
Governors including Canada’s Mark Carney and India’s Duvvuri Subbarao point to imbalances as root cause of the crisis, but skirt around concerns over the dollar
Triple A rating “ours to lose”: King
Bank of England’s Mervyn King says downgrade unlikely given Britain’s strong track record and maturity of government bonds
ECB’s Stark places onus on deficit states
European Central Bank's Jürgen Stark says euro area’s deficit states must embrace economic reforms for the common good