Financial Regulatory Forum

Australia central bank raises rates, more expected

The Governor of the Reserve Bank of Australia (RBA), Glenn Stevens, pauses during an appearance before a parliamentary committee hearing in Sydney September 28, 2009.            REUTERS/Tim Wimborne   (AUSTRALIA BUSINESS POLITICS) By Wayne Cole
SYDNEY, Oct 6 (Reuters) – Australia’s central bank raised its key cash rate by 25 basis points to 3.25 percent on Tuesday and heralded more to come, saying it was safe to row-back on stimulus now that the worst danger for the economy had passed.

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Fed officials: Economy mending, but weakness persists

By Kristina Cooke and David Beasley
NEW YORK/MACON, Ga., Oct 1 (Reuters) – Federal Reserve officials said on Thursday that while the recession-battered economy is on the mend, it will be weak for a while and the Fed is likely to keep its extensive support policies in place for a while.

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HIGHLIGHTS-Officials’ comments at end of G20 summit

U.S. President Barack Obama (R) and White House trip director Marvin Nicholson arrive at the Phipps Conservatory for an opening reception and working dinner for heads of delegation at the Pittsburgh G20 Summit in Pittsburgh, Pennsylvania September 24, 2009. REUTERS/Philippe Wojazer (UNITED STATES POLITICS BUSINESS) PITTSBURGH, Sept 25 (Reuters) – Following are excerpts of comments by leaders and other officials from the Group of 20 on Friday at the end of their two-day meeting in Pittsburgh. (more…)

Support builds for rebalancing world economy, China may balk

Analysts said the United States' drive to agree a roadmap for a more balanced global economy could meet resistance from China which is unlikely to agree reforms that would threaten its growth. WASHINGTON, Sept 22 (Reuters) – Support grew on Tuesday for a U.S. plan to build a more balanced global economy and leaders warned against returning to business as usual once recovery takes hold.

British Prime Minister Gordon Brown said there was substantial support among the Group of 20 nations for creating a new framework aimed at shrinking surpluses in export-rich countries such as China and boosting savings in debt-laden nations including the United States.
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UK says “living wills” to drive bank restructurings

British Financial Services Minister Paul Myners (file) By Huw Jones
LONDON, Sept 18 (Reuters) – Mandatory “living wills” for banks in Britain will spark major restructuring in the sector in the next few years, a UK minister said on Friday.

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Obama to urge regulatory reform in Lehman anniversary speech

The exterior of the world headquarters for Lehman Brothers is seen in New York September 15, 2008,  after the firm filed for bankruptcy protection. Lehman was one of the biggest investment banks to collapse since 1990 when Drexel Burnham Lambert filed for bankruptcy protection amid a collapse in the junk bond market.   REUTERS/Shannon Stapleton (UNITED STATES) WASHINGTON, Sept 11 (Reuters) – President Barack Obama’s speech in New York on Monday will focus on financial reform and the need to strengthen the system to avoid another economic collapse, the White House said on Friday.

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Bernanke sees some economic gain, reviews Fed exit strategy

Federal Reserve Chairman Ben BernankeBy Mark Felsenthal and Alister Bull

WASHINGTON, July 21 (Reuters) – Federal Reserve Chairman Ben Bernanke on Tuesday said the outlook for the long-suffering U.S. economy appears to be improving and the U.S. central bank was carefully reviewing ways to withdraw its massive monetary policy stimulus when conditions permit.
But Bernanke cautioned that unemployment was likely to remain high into 2011, and he warned that this could sap fragile consumer confidence and potentially undermine what is expected to be a very gradual recovery. (more…)

Pope Benedict seeks “global authority” for economy

Pope Benedict      By Philip Pulella

      VATICAN CITY, July 7 (Reuters) – Pope Benedict called on Tuesday for a “world political authority” to manage the global economy and for more government regulation of national economies to pull the world out of the current crisis and avoid a repeat.  The pope made his call for a re-think of the way the world economy was run in a new encyclical which touched on a number of social issues but whose main connecting thread was how the current crisis has affected both rich and poor nations. (more…)

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