An American advocacy group that has successfully pushed to isolate Iran economically through sanctions and business boycotts opened a new front in that effort on Tuesday, seeking to pressure the International Monetary Fund to withdraw all its holdings in Iran’s central bank or to suspend Iranian membership. Connect With Us on Twitter Follow @nytimesworld for international breaking news and headlines. Twitter List: Reporters and Editors The advocacy group, United Against Nuclear Iran, also castigated the fund’s managing director, Christine Lagarde, [...]
Category Archives: Monetary
May
20
May
18
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Federal Reserve draws legislative fire from both sides of the aisle
In the 112th Congress, areas of bipartisan interest have been hard to come by. But overhauling the nation’s central bank looks to be a subject where politicians of all different stripes have developed an interest — if not necessarily an agreement on how it should be done. Criticism of the Fed has struck a rare bipartisan tone since the financial crisis, as it has become a target of both Tea Party groups and the Occupy Wall Street movement. Following that [...]
May
18
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IMF applauds Australia’s surplus plans
May 6, 2012 SYDNEY — The International Monetary Fund Monday applauded Australia’s plan for a budget surplus, saying it will help “rebuild fiscal buffers”, in comments the government seized on as “a ringing endorsement”. Treasurer Wayne Swan is set to unveil one of the toughest budgets in years for the mining-powered economy on Tuesday, with deep spending cuts expected to meet a targeted modest surplus next financial year. Writing in The Australian Financial Review, IMF chief Asian economist Anoop Singh [...]
May
16
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Stock futures hit after European elections
NEW YORK (Reuters) – Stock index futures fell after Greek voters trounced ruling parties in elections on Sunday, a result that put the countrys future in the euro zone at risk, and as Socialist candidate Francois Hollande won the French presidency. SP 500 futures were down 12.3 points at 1,350.20 at 7:35 pm EDT (2335 GMT), suggesting a fall of about 1 percent when the US stock market opens on Monday. Dow Jones industrial average futures fell 176 points, and [...]
May
13
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All Quiet At The Fed … And That’s Good
As reported in my last review of Federal Reserve actions, all remains quiet on the monetary front. Right now, as far as monetary policy is concerned, there is not much for the Fed to do … and, to me, this is good. Things are quiet in the banking system — except for the complaints of top bankers about new rules and regulations that are being discussed. The FDIC closed only one bank this week, bringing the total for the year [...]
May
12
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Canada Monetary Reserves Up $194 Million In April From March
TORONTO Canadas official international reserves rose $194 million in April, the federal Finance Department reported. At April 30, the reserves of foreign currencies, gold and other monetary assets totaled $69.544 billion, up from $69.350 billion a month earlier. All reserve figures are reported in US funds. The government reported no official intervention in the foreign-currency market in April. There were no sales of gold settled in April, leaving month-end gold holdings at 100,000 ounces. The finance department reported that the [...]
May
12
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BoJ minutes: powerful monetary easing here to stay
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Jan
19
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ECB’s Visco hints at lower rates if economy worsens
MILAN (Reuters) – European Central Bank Governing Council Member Ignazio Visco said in a newspaper interview on Saturday that the bank will be attentive to the economic cycle when setting monetary policy, suggesting rates could fall more if the euro zone economy worsens. The ECB has cut interest rates for two months in a row and this month unveiled a raft of measures to support Europes cash-starved banks to counter a forecast recession brought on by widespread austerity measures. Monetary [...]
Jan
13
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IMF clinging to recovery hopes
MISMANAGEMENT of the relationship between governments and bond investors has been the root cause of the dramatic deterioration in the European economy during the course of this year, but the International Monetary Fund believes it is not beyond salvation.
Jan
10
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No Monetary Virgin: The ECB’s Backdoor Easing
The response of American central bank officials towards the financial and economic crisis in the USA can only be described as pragmatic. The American philosophy throughout seems to have been: If it works, its good. Indeed, in managing the financial and economic crisis in the US, the US Fed has not been shy about being easy. Indeed, the US Fed has brazen in its implementation of a form of easing known as monetization: or monetary financing whereby the central bank [...]
