Jackson Hole, the nearest thing on the central banking calendar to Davos, is upon us again, with some of the world’s most senior monetary officials set to head out to the upmarket Wyoming resort over the next few days.
Unlike the annual bash in the Swiss Alps, however, Jackson Hole, which kicks off on Thursday evening and closes on Saturday night, is usually a bit more than a talking shop. Of late, it has been the venue of choice for Fed chair Ben Bernanke to offer clues on where policy is heading.
But, while tapering looks like it is almost upon us, those hoping for more detail on the pace at which the US central bank will slow its asset purchases will not get it from Bernanke this weekend. Read more
By Adam Thomson, Mexico correspondent
The new head of Mexico’s central bank has promised closer co-operation with the government will underpin his six-year tenure, a move likely to heighten investor concerns about his institution’s independence. Read more
The Senate has confirmed Agustín Carstens, Mexico’s finance minister, as its next central banker, less than a week after Mexican President Felipe Calderón nominated him to the post.
Mr Carstens will take the post on January 1. His confirmation comes the day after Standard and Poor’s downgraded Mexico’s government debt to BBB, highlighting concerns on the country’s diminishing oil production prospects and expectations for weak overall growth. Read more