News/Economics
Junk bonds the way forward for China: ex-PBoC deputy
Former Chinese central bank vice-governor Guo Shuqing says new and small start-ups stand to gain from the issuance of non-investment grade debt
Greece takes grudging step towards bailout
Greek government initiates procedures concerning proposed $40 billion rescue with eurozone and IMF, problems anticipated in joint effort
Stimulus saved Asia, but currency changes crucial: ADB
Asia growth to soar on remnants of stimulus, but currency appreciation and capital controls key to long-term prospects, says Asian Development Bank
Money market integration biggest casualty of crunch: ECB
ECB’s financial integration report says areas in which most integration was achieved took the hardest hit, but recovery is following similar pattern
Greek woes worsen as Fitch downgrades and capital flees
Fitch knocks two notches off rating; No solution over what will be done to help country’s banks facing capital flight
British bonds rest on “a bed of nitroglycerine”: Pimco chief
Head of biggest bond fund sees investors penalising gilts as British attachment to quantitative easing stirs worry that government seeks to inflate debt away
Central banks, not debt will kill growth: economist
Independent economist Roger Nightingale charges that debt on its own is not incompatible with growth, but raising rates will kill growth
Emerging markets will overhaul reserve methods: Thai deputy
Bank of Thailand vice governor Atchana Waiquamdee says crisis has rendered traditional measures of reserve adequacy “meaningless” for cautious emerging markets
The end is nigh for the eurozone over Greece
Economists Geoffrey Wood and Charles Dumas say the Greek debt crisis is set to tear asunder Europe’s poorly built Economic and Monetary Union, split over IMF bailout
King sees “room for improvement” in Bank’s communication
Bank of England governor Mervyn King defends the central bank’s fan charts, which have drawn criticism, but says it can still refine the communication of its forecasts
Chinese inflation spike scares investors
Chinese consumer prices rise more than consensus forecast in February, sparking fears that the economy is overheating
Norges Bank sees $1.28 billion loss
Norwegian central bank says deficit the result of the appreciation of its currency; cannot transfer funds to the country’s Treasury as a result
King on QE: we’ve filled a hole
Bank of England governor says pumping £200 billion into economy averted “very serious contraction” in money supply; flags concerns over eurozone’s stuttering recovery
Rogoff predicts wave of sovereign defaults
Greece will not be the only country to face threat of bankruptcy, ex-IMF chief economist Kenneth Rogoff warns
Ireland’s Honohan pushes for wage cuts
Irish central bank governor says cuts necessary to reverse unemployment rise