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Guess of honour
A lesson for economists from a man who ‘abolished’ statistics, John Cowperthwaite, Hong Kong’s financial secretary during the 1960s
Jacek Rostowski
The ECB should say that in the event of a Greek exit it will stand ready to buy unlimited amounts of the sovereign bonds, writes Jacek Rostowski
Senate backs Fed nominees
The body confirmed two nominees for the Federal Reserve Board of Governors, giving the panel a full seven members for the first time in six years
Charles Plosser: When a monetary solution is a road to perdition
Central banks cannot resolve unsustainable fiscal policies. The only real solution lies with the fiscal authorities, writes Charles Plosser
NY Fed postpones $1.7bn CDO sale
Maiden Lane sale delayed to allow market time to digest ‘new information’ about the deals, which involve securities relating to AIG bailout
BoE cuts economic growth forecast
Inflation seen to remain above 2% target for another year, as the Bank of England identified the eurozone crisis as the biggest threat to the economy
Federal Reserve wary of eurozone risks
Focus on threats to economy among members of FOMC helps explain a clash between the committee’s forecast and members’ individual predictions
Bank of England optimism dented again
International debate is red-hot with estimates of effects of austerity on growth, but UK inflation report did not address the issue of how these might apply here
ECB bars access to four Greek banks
Lenders will have to rely on ‘emergency liquidity assistance’ – a temporary facility provided by the Greek central bank but subject to ECB approval
BoJ misses bond buying target
Central bank draws offers of Y481bn for JGBs with one to two years left to maturity, indicating that it is pumping more cash than markets can absorb
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