Central Banks
New UK MPC member coy over policy stance
Ian McCafferty maintains a neutral perspective ahead of his first MPC vote; says it is difficult to be precise about effects of QE
Riksbank unveils designs for new coins
Redesigned Swedish coins to have sun, wind and water theme; will enter circulation in October 2016
Reserve Bank of Fiji governor promotes financial inclusion innovations
Barry Whiteside extolls benefits of co-operation between stakeholders in the bid for financial inclusion; encourages novel projects to reach the under-served
French research examines impact of credit rating changes
Banque de France study examines impact of a change in a country's credit rating on investment markets; downgrades have significantly larger effect on spreads
Bank of Finland appoints new head of legal affairs
Maritta Nieminen becomes first woman to be selected to lead the legal department; predecessor is retiring
ECB’s Constâncio stresses need for banking union
ECB vice-president says banking union will help tackle increasing divide of markets along national borders; could guide intervention in market risk
ECB appointment hearing postponed due to lack of female candidates
Hearing to discuss Yves Mersch’s appointment to the ECB’s executive board on hold; talks with Eurogroup president taking place
Reserve Bank of Fiji delivers positive economic review
Latest economic review reveals generally optimistic developments in Fijian economy; growth and inflation expected to meet projections
Kim succeeds Shirakawa as chairman of BIS Asia council
Bank of Korea governor Choongsoo Kim named chairman of the BIS Asian Consultative Council
State Bank of Vietnam forms payments advice board
New board will advise central bank governor on payments issues; will conduct research and make proposals for ways to improve Vietnamese systems among other duties
BoE’s Dale says further easing carries ‘potential risks’
Spencer Dale recognises role monetary policy steps have played in stabilising UK economy, but warns further quantitative easing could come with drawbacks
Central banks launch joint investigation into Libor scandal
Economic Consultative Committee announces examination of reference rates used in financial markets; market will be consulted
Reserve Bank of New Zealand official discusses banking culture
Don Abel says financial institutions’ survival hangs on their culture; the success of risk management depends on integrity
Canadian governor refuses to lean on exchange rate
Mark Carney praised effect of high commodity prices on Canada’s economy despite currency appreciation; says he will not intervene in exchange rates
Irish deputy governor analyses monetary policy’s role in stability
Stefan Gerlach explores the dynamic between using monetary policy and macro-prudential policy to address financial stability; says the two can be used in tandem, with considerations
Bundesbank paper investigates how relationships impact interbank lending
Bundesbank study reveals importance of good relationships to the liquidity of interbank markets; private information determines banks' willingness to lend and the price of their loans
Bank of Lithuania approves guidelines on financial services advertising
New guidelines aim to improve the quality and information content of financial advertising; central bank warns against ‘aggressive and non-informative’ adverts
Irish governor says senior creditors must take share of losses
Patrick Honohan wants the losses of failing banks to be shared with senior creditors; says governments’ rescue options are limited when debt is socialised
Hungary rejects leaked conditions for IMF programme
Viktor Orbán says Hungary will not comply with requirements for IMF-EU programme; leaked list includes elimination of controversial transaction tax applied to National Bank of Hungary
Swiss franc expected to retrace its fall as ECB news sinks in
The euro rallied against the Swiss franc for the first time in six months after yesterday’s announcement of new measures from the ECB, but FX strategists expect it to fall back towards 1.20