Central Banks
AUDIO: The Enronisation of Europe
Nick Beecroft, senior markets consultant at Saxo Bank, discusses the weaknesses in the EU bailout package, and the broader implications of a Greek referendum on the Eurozone
Turkish intervention poses threat of inverted currency war
A wave of intervention by Turkey and Poland’s central banks to strengthen the lira and the zloty could lead to an inverted currency war if other central banks follow suit, according to strategists. Chiara Albanese reports
FX Week Asia: World economy 'needs alternative reserve currency'
Chinese renminbi looks poised for reserve status, but still no consensus on when it will happen due to forces beyond "anyone's control", senior academic tells FX Week Asia conference in Singapore
RMB’s rise to reserve currency status accelerates
The possibility that renminbi will become a reserve currency in its own right appears to be becoming a reality, as a number of central banks have begun to diversify into the Chinese currency. Chiara Albanese reports
Central banks shy away from euro reserves
New data from the IMF’s currency reserves database suggests reserves accumulation has slowed during 2011 and the appetite to hold euro reserves has also waned, particularly on the part of emerging market central banks
Intervention: friend or foe?
If the trend is your friend, is central bank intervention your enemy? The answer is not so clear cut, say Christopher Cruden and Purnur Schneider, not least because of the breadth of interventions, which challenges attempts at uniform analysis
Long Swiss franc players hit by SNB move
Sudden depreciation of the Swiss franc, following an SNB announcement last Tuesday that it would buy unlimited amounts of foreign currency, has left some participants nursing hefty losses.
SNB faces battle to maintain franc currency floor
Swiss National Bank pledges to set minimum euro exchange rate at Sfr1.20, but analysts express concern over central bank’s ability to maintain exchange rate floor
AUDIO: The US Debt Crisis and the Dollar
With only days to reach an agreement to increase the US sovereign debt ceiling, Nick Beecroft, senior markets consultant at Saxo Bank looks at the key risks for the US dollar.
Iranian public votes to switch currency name from rial to parsi
Early indicators from a survey on currency reform show Iranian public favours a change in the Iranian currency's name and denomination, senior official tells Central Banking, FX Week's sister publication
FX Invest: US dollar's time as world's reserve currency draws to a close
With the European sovereign debt crisis grabbing headlines, markets might be forgiven for overlooking the nearing end of a second round of quantitative easing in the US. Debate over its success raises deeper questions about the role of the US dollar as…
Lack of liquidity could hinder offshore RMB centres
Former US Treasury official cautious on prospects for offshore renminbi
European corporates wary of RMB settlement
UK government pushing for London to become a centre of offshore renminbi trading, say conference speakers
Yuan set for reserve currency status, Bloomberg finds
Respondents to a foreign exchange market survey cite quantitative easing, reserve currencies and regulation as their top priorities
Central banks in 'uncharted waters', Lamfalussy tells ACI Congress
Former BIS chief recognises challenges facing central banks, but praises the ECB for its performance during the financial crisis
Audio: To QE or not to QE, is the only question?
Markets could be sleepwalking into global crisis 2.0 as a third round of quantitative easing becomes increasingly likely, cautions Nick Beecroft, senior markets consultant at Saxo Bank in London.
Reserve managers diversify away from traditional currencies, report finds
Non-traditional currencies play an increasingly important role in central bank holdings as a result of eurozone sovereign debt concerns and ongoing economic weakness in developed markets, according to Central Banking Publications report
Audio: ECB and BOJ face crisis
Nick Beecroft, senior markets consultant at Saxo Bank, discusses the challenges facing the European Central Bank and the Bank of Japan
IMF should draft rules on foreign exchange intervention, says BoI's Fischer
Bank of Israel governor Stanley Fischer calls on IMF to draw up international rules on foreign exchange intervention
Posen reveals Bank MPC at odds over fiscal policy
Bank of England rate-setter Adam Posen talks of divide over fiscal retrenchment; accuses majority view of being “excessively political”
Irish woes may spread to other PIIGS
Market fears over the solvency of Ireland’s troubled banks and the potential threat they pose to both government finances and to the country’s growth prospects may yet bring contagion to other peripheral European markets, investors fear.
China inflation suggests more rate hikes likely
Brian Jackson, senior strategist at RBC Capital Markets in Hong Kong, looks at China's policy reaction to worsening inflation
Battle of the currencies
Authorities around the globe remain vigilant against hot money