Central Banks
ESM should have simpler decision-making process – Olli Rehn
“Reinforced majority” voting would mean quicker reactions in crisis, says incoming Finnish governor
EBA and ECB hit out at capital hurdles to banking union
Top regulators frustrated by push to ring-fence capital and liquidity in EU subsidiaries of EU banks
Strike halts Australian banknote production
Unions reject 2% offer and point to governor’s call for higher wage increases
Pakistan strengthens China ties with expanded swap agreement
Doubling of swap line is latest in a series of sometimes controversial integration measures
UK statistics authority disagrees with BoE on snow impact
ONS says snow had limited impact on Q1 GDP, contradicting the BoE’s account
Malaysian central bank sends details of own land deal to anti-corruption body
Finance minister says money was used to pay off debts of scandal-hit state-owned fund
Podcast: San Fran Fed’s Daly on gender inequality in central banks
Mary Daly on the importance of role models in improving central banks’ gender balance
Turkish central bank carries out emergency rate hike as currency falls
Erdogan statements and emerging market sell-off put pressure on lira
Swift starts work on pan-European real-time payment connectivity pilot
Messaging infrastructure aims to connect Tips and EBA Clearing’s RT1 system
Most FOMC participants say they may raise rates ‘soon’, minutes show
Data show US unemployment falling to lowest point since December 2000
Bahamas central bank chooses design for new headquarters
Central bank will bear cost of new building
Latin American central banks should improve communication strategies – IMF
Blog post suggests longer, more detailed, policy communication is not always better
Lowe says RBA is closely monitoring China’s shadow banks
Interconnections mean trouble in Chinese markets would likely spill into Australia, governor says
Dudley calls for ‘aggressive action’ on benchmark reforms
Failure to move to new framework before 2021 could create “large-scale disorder”
Jamaica’s Wynter says more “robust” rate cuts could be on horizon
Monetary policy has so far been ineffective in preventing inflation from falling, governor says
Belize must act to escape cycle of defaults – IMF staff
Country has completed third debt restructuring in a decade
US House passes deregulation bill with bipartisan support
Once President Trump signs it, measure will relieve some regional banks from stricter requirements
Nominal exchange rates can be forecast on ‘back of a napkin’ - ECB paper
Flexible exchange rates in advanced countries have two regularities, researchers find
Book notes: Unelected power, by Paul Tucker
Tucker’s well-argued text sets out set of principles for those in unelected positions of power to ensure they continue to act for benefit of general public
Philippines central bank launches reorganisation
The effort will take 12 months to complete and includes the creation of new functions