Central Banks
Jamaican report says inflation risks balanced for 2016
Latest forecasts suggest inflation will rise to lower end of Bank of Jamaica’s target range in coming months; downside risks include reversal in food prices
BoJ paper: inflation expectations do not match target
Study of ‘dissonance’ in forecasts between economic agents and the central bank finds people only believe the BoJ will hit its target in the short to medium term – after that, inflation drops
Ukrainian governor: banking system 'largely cleaned up'
Ukraine’s central bank governor says the country’s commercial banking system has been largely reformed; enhancing creditors’ rights key to resumption of lending, she argues
Volatility fails to shake outlook as BoE holds rates steady
Latest MPC minutes are largely preoccupied with discussion of international developments, but falling oil prices and market volatility do not herald major change in stance
BoE paper seeks to improve forecasts with adaptive model
Using an adaptive model in conjunction with heavy-tailed t-distributions allows authors to deliver ‘substantial improvements’ in forecasting inflation
Basel Committee completes trading book review
Much-anticipated redesign of market risk framework seeks to capture risks the Basel accord failed to guard against in 2008; impact study implies median 27% increase in capital charges
Growing case for planning Cambodian de-dollarisation, paper says
Cambodia needs a strong macroeconomic framework for de-dollarisation to be successful, research says; economic and political stability a good starting place
Brazilian paper charts impact of inflation signal on expectations
Agents update forecasts immediately after new information is released and the impact of new information is dependent on ‘precision’, a working paper suggests
HKMA to raise countercyclical buffer by maximum in 2017
Hong Kong Monetary Authority will raise banks’ counter-cyclical buffers by the maximum amount in January 2017; risks still present in credit and housing market, Norman Chan warns
Indonesia cuts interest rates following Jakarta attack
Local reports suggest central bank's board was meeting at time of bomb blasts in downtown Jakarta; rate cut ‘should provide overdue boost' to the economy but comes with risks, says analyst
Central Bank of the Year: Central Bank of Ireland
Well-capitalised banks, new supervision measures and timely macro-prudential policy action to cool an overheated property sector have gone far to restoring the Central Bank of Ireland's credibility
Governor of the Year: Erdem Başçı
Erdem Başçı has guided the Turkish central bank through a turbulent period marked by policy spillovers from advanced economies, political interference at home and conflict in the Middle East
The winners of the Central Banking Awards 2016
Central Bank of Ireland wins Central Bank of the Year, while Erdem Başçı picks up Governor of the Year; Zeti Akhtar Aziz receives Lifetime Achievement Award; 15 more awards announced
Reserve manager of the year: National Bank of Denmark
The National Bank of Denmark's new risk budget-based investment strategy stood up well to the unprecedented flows of funds into and out of the country in 2015.
Initiative of the year: Reserve Bank of New Zealand
The Reserve Bank of New Zealand’s enterprise risk management system offers a best-practice example of how to build a framework from the ground up, with a small team and limited resources
Consultancy and advisory services provider of the year: BlackRock Solutions
A key partner to major central banks engaging in complex asset purchases, asset quality reviews, resolution mechanisms and strategic asset allocations
Risk management services provider of the year: Wall Street Systems
A powerful real-time risk-calculation engine, consistent high-quality support and broad central-banking experience make this treasury management offering the best in class
Lifetime achievement award: Zeti Akhtar Aziz
Zeti has played a crucial role in efforts to modernise Malaysia’s financial system, and has worked tirelessly to promote Islamic finance, financial inclusion and South-east Asian integration.
Global custodian of the year: Northern Trust
As the custody and asset servicing provider wins new business in an expanding list of territories, clients praised its technological capabilities and regulatory nous
Asset manager of the year: State Street Global Advisors
SSGA has helped official institutions to address a complex policy context at a high intellectual level while continuing to offer technically excellent investment services around the world
Sovereign investor of the year: Future Fund
Australia’s sovereign wealth fund took the restrained decision not to increase its risks to chase returns in 2015. Instead it focussed on improving its operational framework
Foreign exchange dealer of the year: HSBC
HSBC has catered to sovereign client needs across a broad range of currencies including the shift out of euro assets and into the renminbi
Payments provider of the year: Intellect Design Arena
The payments system provider has helped the Reserve Bank of India to implement an overarching infrastructure to facilitate mass financial inclusion being implemented in India
Market infrastructure provider of the year: LCH.Clearnet
LCH.Clearnet is a driving force behind compression of over-the-counter derivatives and a leader in tackling too-big-to-fail concerns linked to central counterparty clearing