Central Banks
FMI transparency needs to improve, Chile deputy says
Central bank leading by example with regard to improved FMI transparency and governance; disclosure framework for central bank’s settlement system to be completed in 2017
Regional Fed presidents call for further rate rises
Richmond and Boston heads say the Fed should reach inflation target in 2017
Luc Coene, 1947–2017
Former Belgian central bank governor also had significant political career
Global value chains increasingly driving global inflation – BIS paper
Growth of global value chains limits the importance of domestic factors in creating inflation, complicating the jobs of central banks
RBI research arm tests blockchain for clearing, settlement
IDRBT releases white paper on the applications of blockchain, examining the benefits for the Indian financial sector; research group created proof-of-concept architecture to simulate clearing network
Stronger 2016 profit helps SNB rebuild reserves
Profitable year helps central bank repair its distribution reserve after losses in 2015, though profits appear to have slipped slightly in the fourth quarter
BoE paper tackles big data on Swiss franc de-pegging
Trade repository data sheds light on liquidity problems and market fragmentation around the removal of the SNB’s Swiss franc floor in January 2015
People: Central banks of Spain and Afghanistan appoint new deputy governors
Career central banker Javier Alonso promoted to deputy in Spain, Bank of Afghanistan names new first deputy governor, and more
Central Bank of Philippines to improve surveillance – Tetangco
Philippines has “ample” policy space to respond to risks, governor says, but monetary policy will only be enacted to prevent inflation deviation
Central Banking Awards 2016: Gallery
On March 3, 2016, members of the central banking world gathered in London to celebrate Central Banking’s third annual awards
Pablo Sánchez appointed to lead Central Bank of Bolivia
Academic to take over from Zabalaga after six years as president; latest IMF consultation highlights the disagreement with Bolivian authorities over independence and monetary policy
Nigerian central bank details funding for farmers
Programme is latest to aim at boosting production of import substitutes
Terms-of-trade shocks affect house price fluctuations – paper
Bank of Canada research shows terms of trade shocks explain large percentage of variance in house price growth; most of the variation associated with changes in real import prices, authors say
Belarus cuts rates amid systemic risk fears
Central bank says measures will be taken to guard against foreign loan risk; recent IMF assessment says economy has high level of risk
Completing reform agenda may not be enough – Caruana
BIS chief urges continuous effort to finish reforms, but says they need to be backed by policies that raise earning and debt-repayment capacities
Ex-Barclays trader pleads guilty in price-fixing conspiracy
Jason Katz, a former EMFX trader at Barclays and BNP Paribas, pleads guilty in New York
Colombian macro-pru measures have been effective, paper shows
Paper analyses the impact of macro-prudential measures on credit supply of banks; both reserve requirement and dynamic provisioning scheme have negative effect on credit growth
Echavarría takes over at Central Bank of Colombia
Former board member central bank takes office as economy is expected to recover from commodity slowdown; biggest challenge will be tackling high inflation
Czech central bank carries out internal reorganisation
Research division to be split between two departments; human resources joins general secretariat, while EU and international organisations division is moved to regulation department
Bank of Portugal selects preferred buyer for ‘good bank’
Novo Banco sale process has met with difficulties; US firm Lone Star is named the best-placed bidder
J Dewey Daane, 1918–2016
Former Fed governor and adviser to the International Monetary Fund played key role in founding of the Central Bank of Paraguay
Fed could raise rates faster than anticipated, minutes show
Prospect of undershooting the longer-run employment target has increased, the FOMC reports, but expansionary fiscal policies should improve growth prospects
New data sheds light on policy spillover channels – BIS paper
Expanded data published by the BIS show how US dollar, euro and yen affect cross-border lending flows
Barbados has failed to find growth balance, says governor
Further restrictions on spending needed to protect country’s reserves, says Worrell