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Things worth reading, the European view

March 24, 2012 by skinnercm   Comments (0)

Financial Services Club member and good colleague Edith Rigler has started to look for key headline grabbing views from the German / European media that is aligned with the Financial Services Club's common themes of future banking, regulation, the Eurozone, payments, investment markets, retail banking and future technologies.


Things worth reading: 14th March 2012

March 24, 2012 by skinnercm   Comments (0)

Things we're reading today include ...


Blog Post: EconometricsBeat: An Overview of VAR Modelling

March 23, 2012 by MoneyScience   Comments (0)

Judging by the posted comments and the emails I've received, there's no doubt that my various posts on different aspects of VAR modelling have been quite popular. Many followers of this blog will therefore be interested in a recent working paper by Helmut Luetkephol. The paper is simply titled, "Vector Autoregressive Models", and it provide an excellent overview by one of the leading figures in the field. You can download the paper from here. © 2012, David E. Giles

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Insurance Co Turns to iSOCO’s Semantic Search to Improve Incident Management

March 23, 2012 by Jenz514   Comments (0)

A new release reports, “Helvetia Seguros has decided to take advantage of the new possibilities offered by semantic technology in the optimisation of customer, employee and provider relationship processes. To do so they placed their trust in the semantic search engine of the semantic web and artificial intelligence firm iSOCO, with the aim of improving the insurance company’s current incident management system.” continued…


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Monetary Policy Week in Review - 24 March 2012

March 23, 2012 by CentralBankNews   Comments (0)

The past week in monetary policy saw 8 central banks announcing monetary policy decisions.  Of those that changed interest rate levels, Mauritius cut its rate -50bps to 4.90%, and Ukraine cut -25bps to 7.50%, while Iceland increased +25bps to 5.00%.  Those that held interest rates unchanged were: Nigeria 12.00%, Egypt 9.25%, Thailand 3.00%, Taiwan 1.875%, and Colombia 5.25%.  On the required reserves front, Egypt cut its banks required reserve ratio by 200 basis points, Ukraine also eased reserve requirements, and the People's Bank of China selectively eased reserve requirements for 396 branches of the Agricultural Bank of China.

Looking at the central bank calendar, the week ahead sees the central banks of Israel, Hungary, Turkey, and South Africa meeting to review monetary policy settings. The base case would be for no change among all of these emerging market central banks. Elsewhere next week features speeches from Fed Chairman Ben Bernanke, ECB president Mario Draghi, Bank of Canada Governor, Mark Carney, and the Bank of England puts out its quarterly bulletin.

Bank of Israel
The Magyar Nemzeti Bank
Central Bank of Turkey
South Africa
South African Reserve Bank

IMPORTANT NOTICE: The Central Bank News website is presently for sale, if you are interested please click through for more details.

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Blog Post: TheReformedBroker: Corzine's in a white Bronco right nowâ¦

March 23, 2012 by MoneyScience   Comments (0)

He is so completely fucked if this breaking news turns out to be true... From Bloomberg: Jon S. Corzine, MF Global Holding Ltd. (MFGLQ)’s chief [...]

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Central Bank of Colombia Holds Rate at 5.25%

March 23, 2012 by CentralBankNews   Comments (0)

The Central Bank of Colombia held its monetary policy interest rate unchanged at 5.25%.  The Bank said [translated]: "The risks to inflation from expectations have moderated. Which may arise from the behavior of credit demand or remain. According to the present assessment of the balance of these risks, the Board decided to keep interest rate unchanged for intervention. The new information will enable new monetary policy actions to follow. The Board will continue careful monitoring of the international situation, behavioral, and projections of inflation, growth, behavior of asset markets and reiterated that monetary policy will depend the new information."

The Central Bank of Colombia last hiked the rate 25 basis points at its January and February meetings this year, while its previous change was an increase of the interest rate by 25 basis points to 4.50% at its July monetary policy meeting, following a 25bp increase in June last year.  Colombia reported annual inflation of 3.55% in February, 3.6% in December, 3.96% in November, 3.73% in September, 3.27% in August, 3.42% in July, 3.23% in June, 3.02% in May, and 2.84% in April; which compares to the Bank's inflation target of 3% (+/- 1%).

Colombia reported a spike in annual GDP growth to 7.7% in the September quarter of 2011, compared to 4.8% in the June quarter and 5.1% in the March quarter, while the bank previously said the 2011 full year forecast of 4.5% - 6.5% is highly probable.  The Colombian peso (COP) has gained about 6% against the US dollar over the past year, while the USDCOP exchange rate last traded around 1,760

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