Governance
Lautenschläger nominated as SSM vice-chair
The European Central Bank has nominated Sabine Lautenschläger as the vice-chair of the supervisory board; if appointed she will join Danièle Nouy at the top of the SSM
Head of the Central Bank of Nicaragua removed by decree
Alberto Guevara was transferred to a different, as yet unknown, position within the government last week; the general manager is standing in and the bank is expected to comment publicly on Friday
RBI report recommends inflation target under new monetary policy framework
Committee set up by Raghuram Rajan in September calls for formal nominal inflation target of 4% to be phased in over two years; also recommends sweeping changes to bank's organisational structure
Bank of Israel staff get bump in wages
Recently struck deal raises salaries by 1.78% and also increases wages retroactively for 2012 and 2013; governor Flug recently recieved 50% pay increase after push by former governor Stanley Fischer
People: Zambian deputy retires; Lautenschläger appointed at ECB
Bank of Zambia and Bank of Nigeria lose deputy governors to the ministry of transport and retirement respectively; Sabine Lautenschläger will join the ECB executive board on January 27
Bank of Italy slims down organisational structure
The central bank will consolidate its various operations into eight directorates general on January 27, in a bid to ‘streamline’ its organisational structure and decision-making processes
Kohn says Fed's independence 'at risk'
Former Federal Reserve vice-chairman Donald Kohn argues the institution's autonomy has been undermined by recent policies; lists four explicit threats in paper published by the Brookings Institution
Central banks in Israel, UK close in on new deputies
Bank of Israel governor Karnit Flug nominates academic Nadine Baudot-Trajtenberg as her deputy; UK Treasury begins process of replacing Charles Bean at the Bank of England
People: Malta gets second deputy; Lautenschläger aces European Parliament test
Central Bank of Malta gets second deputy governor for first time; Lautenschläger wins overwhelming majority in European Parliament vote; and more
‘Yellenomics’ – the second coming of Keynes at the Fed
Janet Yellen's confirmation is an historic shift toward a more activist Fed, a reinstatement of Keynesian economics and expanded government in general, writes Thomas Cargill
Nigeria's Sanusi to serve out full term after ‘reconciling' with Jonathan
Nigerian central bank governor and president said to put aside their ‘differences' after Goodluck Jonanthan reportedly demanded Sanusi's immediate resignation for allegedly leaking politically sensitive information
Turkmen central bank chief replaced with former deputy
Tuvakmammet Japarov becomes the sixth governor in 12 years to be sacked from the job; replaced by Gochmurat Muradov who served as his deputy between 2011 and 2012
Philippines governor recounts emergency measures after Typhoon Haiyan
Amando Tetangco also says the central bank is well-equipped to deal with financial turbulence in the coming year
Stanley Fischer nominated Fed vice-chair
US President also nominates Lael Brainard, a former US Treasury under-secretary, to the Federal Reserve board, while Jerome Powell, on the board since 2012, is nominated for a second term
People: Bank of Portugal appoints ‘temporary’ chief economist; Bank of Spain reveals pride in ECB hire
Isabel Horta Correia named head of economics and research ‘under temporary assignment’ at Bank of Portugal; Ramón Quintana praised by Bank of Spain for ECB success
Robert Pringle’s Viewpoint: Janet Yellen - that honeymoon feeling
Comparing what the new Fed chief should do with what is likely
People: Maldives nominates female governor; Uribe takes over from Carstens on BIS body
Local bank executive nominated after former governor's sudden resignation; Colombia governor Uribe takes over from Agustin Carstens on BIS Americas council
People: Lautenschläger for ECB board; IMF's García set for Chile central bank
EU leaders nominate Bundesbank deputy, in charge of banking supervision, to take German spot on ECB executive; Chile's IMF director to join national central bank; and more
New York Fed's Dudley lists presidential attributes
The president of the New York Fed need not be an economist, says Dudley; they must, however, be open-minded, pragmatic and have a strong research team behind them
Bank of Italy share capital revalued
Italian government revalues central bank’s share capital at €7.5 billion; ECB rebukes finance ministry for jumping the gun
People: Canada deputy retires; Tucker becomes Sir Paul
John Murray's retirement creates a deputy governor vacancy at the Bank of Canada; former Bank of England deputy Paul Tucker is knighted; and more
Reserve Bank of Fiji names two new chief managers
Lorraine Seeto and Vilimaina Dakai will head the departments for risk management and financial institutions as the central bank rotates senior staff members once again
Singapore's Tharman to stay on as head of IMF advisory body
International Monetary and Financial Committee calls on Singaporean finance minister, and former MAS chief, to remain in the chair for one more year
Bernanke praises Volcker and Greenspan contributions on policy communication
Current Fed chair uses centenary celebration to hail contributions of his two predecessors in improving the Fed's communications - including ‘qualitative forward guidance' under Greenspan