December 10, 2009 |
In the middle of his country's worst economic crisis in a generation, Mexican President Felipe Calderon on Wednesday nominated a close political ally, Finance Minister Agustin Carstens, to replace the well- respected head of the central bank. Carstens, a University of Chicago-trained economist, has serious creds in the financial world too. But he is also seen as someone willing to be more collaborative with the president than the fiercely independent outgoing Bank of Mexico director.
September 10, 2012 |
WASHINGTON - The U.S. isn't the only place where conservatives have a problem with aggressive central bank intervention in the economy. A senior member of Germany's conservative ruling said the European Central Bank was pushing the limits of its mandate by moving to buy bonds of financially troubled countries . The comments came as a top German court was set to rule this week on a challenge to the euro zone's new bailout fund, Reuters ...
August 9, 2013 |
WASHINGTON -- The president of the Federal Reserve Bank of Cleveland, Sandra Pianalto, will step down early next year, creating another vacancy among central bank policymakers as they grapple with reducing their stimulus efforts. The head of the Cleveland Fed is set to take one of four rotating positions as a voting member on the 12-person Federal Open Market Committee, which makes monetary policy decisions. Pianalto, who has led the Cleveland Fed since 2003, said Thursday she would retire early next year.
January 8, 2010 |
Argentina's president, Cristina Fernandez de Kirchner, fired the nation's central bank chief Thursday after he refused to release $6.6 billion in foreign reserves to service the nation's mounting foreign debt. But questions over the legality of Fernandez's action have raised the likelihood of a double-barreled political and economic crisis. Fernandez's dismissal decree followed an emergency meeting with her ministers in the afternoon after bank head Martin Redrado rejected her call to resign.
October 13, 2011 |
The Obama administration said it was "actively" considering sanctioning Iran's central bank in retaliation for an alleged Iranian assassination plot, a move that could severely damage Iran's economy and potentially provoke a strong response from Tehran. David Cohen, the Treasury undersecretary for terrorism and financial intelligence, told the Senate Banking Committee that officials were "looking very actively" at such a step and might carry it out if other nations could be persuaded to follow suit.
December 20, 2005 |
Italy's central bank chief, Antonio Fazio, under criminal investigation for alleged abuse of power for his role in bank takeover battles, tendered his resignation. It is likely to be accepted, said Luigi Leone, head of the union representing the majority of the central bank staff. Bank of Italy Director-General Vincenzo Desario will take the helm temporarily, Leone said.