Central Banks
Who is Yi Gang?
Hui Feng says Beijing’s choice for PBoC chief fits into a wider liberal cadre across senior financial positions – but Yi faces plenty of challenges in delivering reform
Powell strikes cautiously upbeat note in first policy press conference
Federal Open Market Committee shifts economic forecasts up marginally
Latin American markets were hit by 2010 US ‘flash crash’, DNB paper finds
Fall was driven by equities markets’ interdependence, not contagion, researcher argues
New York Fed director involved in selecting new president resigns
David Cote stepped down shortly after the institution revealed it was considering “a handful of final candidates”
New South African president supports pan-African currency
Cyril Ramaphosa says it is time Africa abandons “colonial mentality” and adopts common currency to foster investment and intra-African trade
Bank of Ghana places troubled UniBank under administration
Central bank says it has made several attempts to save the mid-sized lender since 2016, but claims lack of co-operation from management and false information led to failure
Fehmi Mehmeti confirmed as Bank of Kosovo governor
Parliament narrowly votes to approve the interim governor for the full-time role
Tajikistan cuts policy rate as inflation stabilises
Central bank says inflation is more stable and falling, creating room for cuts
Fed’s unconventional policies similar to measures in 1920s, says research
Market operations early in the 20th century more than tripled Fed’s Treasury portfolio
Kenyan central bank condemns interest rate cap legislation
Rules introduced in 2016 have restricted access to credit for small firms and impaired the central bank’s ability to conduct monetary policy
UK’s PSR needs powers to protect cash – report
Think-tank report believes regulator should have consumer protection mandate, as cash machine closure threatens to leave the public excluded from payments network
Global leverage may be higher than supervisors realise – IMF paper
Standard measures of leverage are too focused on balance sheets, researchers say
Lawmakers should not yet intervene on big data – European agencies
Financial institutions should develop best practice for big data, ESAs say
Venezuela pays off $2.1 million debt to Chile
Struggling Latin American country honours debt repayments under Reciprocal Payments and Credit Agreement, after missing payment in 2017
People: Bank of Finland to select new governor
Finnish governor Liikanen finishes final term in July; Seychelles reappoints governor and deputies; South Africa sets up foreign exchange committee; Atlanta Fed’s vice-president retires
ECB sets up co-operation programme with South African central bank
MoU is sixth high-level technical agreement with G20 central bank
BoE’s FPC sees risks lurking in global debt markets
Committee highlights “material” global vulnerabilities, particularly in debt markets
Nigerian central bank hopes for end to monetary policy committee deadlock
Governor says country’s lawmakers should approve MPC nominees soon
CPMI adds three new members
All G20 members and more emerging markets are now represented