Central Banks
Bank of Israel names new head of macroeconomic and policy research
Bank of Israel appoints Adi Brender to replace Michel Strawczynski as head of the macroeconomics and policy division in its research department
Poland minutes show further monetary policy division
Polish Monetary Policy Council split on decision to hold interest rate at 4.75%; third successive meeting where interest rate cuts are proposed but rejected
ECB working paper examines causality in crises
A study published by the ECB investigates where causality lies between banking, debt and currency crises; also compares the duration of each
Reducing capital inflows has hidden cost, says Chilean governor
Rodrigo Vergara says emerging markets must beware the costs of using unorthodox monetary policy to mitigate spillover capital inflows from advanced economies
CEE countries in a good position, says Mexican deputy
Manuel Sánchez says Central and Eastern European countries outside the eurozone are in a good situation as they can move towards integration slowly without taking on immediate risks
ECB paper claims credit rating agencies traded grades for custom
ECB study finds credit rating agencies provided more favourable ratings in return for continued custom; quality allegedly compromised by conflict of interest
Fijian police get anti-money laundering training
Fiji’s financial intelligence unit and police force to run an intensive workshop on investigating complex fraud cases
BoE’s Haldane outlines transparent future for the central bank
Executive director for financial stability says Bank of England has undergone a transformation of communications and transparency; outlines ‘radical’ shift in central bank’s operations
Islamic Liquidity Management Corporation replaces CEO
International Islamic Liquidity Management Corporation names Rifaat Ahmed Abdel Karim to replace Mahmoud AbuShamma as chief executive
Bank of Mauritius to offer gold as public savings tool
Mauritians will soon be able to purchase gold bars from the central bank as part of an effort to promote a 'savings culture' in the country
EU leaders agree on new powers for ECB
European Central Bank to run single supervisory mechanism, but leaders fail to agree on when bailout funds can be directly injected into European banks
West African securities market is short-sighted, says IMF paper
IMF study indicates West African Economic and Monetary Union securities market fails to meet the needs of longer-term investment
Solomon Islands hit by trade deficit
Quarterly review of economic performance in the Solomon Islands reveals drop in country’s trade balance; weaker export production responsible
RBA assistant governor discusses impact of OTC repository licensing
Malcolm Edey considers how a licensing regime for trade repositories in OTC markets in Australia will impact the RBA; central banks to focus on market-monitoring, advisory and oversight
UK endorses Wheatley report to fix Libor
The UK Treasury has endorsed recommendations made by Martin Wheatley of the Financial Conduct Authority to fix Libor; will amend the UK’s Financial Services Bill
Hong Kong set to meet Basel III deadline as others struggle
Hong Kong to put final Basel capital requirements legislation in place by January 1 deadline, as most other countries struggle to hit G-20 deadline
Stability the best foil for inequality, says ECB’s Cœuré
ECB executive board member considers the ability of monetary policy to tackle income inequality in Europe, saying stability is key to promote fairness
FBI thwarts plot to bomb New York Fed
Planned attack on Federal Reserve Bank of New York fails after alleged bomber is given fake explosives by FBI; defendant charged with attempting to use a weapon of mass destruction
Papua New Guinea governor to tackle high liquidity
Loi Bakani discusses the state of Papua New Guinea’s economy; outlines the risks linked with high levels of fund inflows and how the central bank is addressing them
Further QE discussed in BoE minutes
UK central bank’s Monetary Policy Committee minutes show further quantitative easing debated even though members voted unanimously to keep asset purchasing at current level
Central Bank of Iceland minutes hint at future tightening
Interest rate hold narrowly passed by central bank’s monetary policy committee in October as Iceland appears to shift towards withdrawing accommodative policy in near future