Central Banks
Cyprus central bank calls for continuing efforts on NPLs
CBC calls for European law on insurance company resolution
ECB announcements in QE era shifted inflation expectations, Austrian paper finds
Researchers use daily data on bond yields and inflation-linked swaps
Federal Reserve publishes its first fan chart
Fed unveils new communication method as Janet Yellen makes clearest statement yet that a March hike is on the table
Bank of Russia proposes major resolution reforms
New law would considerably extend the central bank’s powers
ECCB building named in honour of former governor
ECCB names central bank building after its longest-serving governor, Dwight Venner; current governor and former colleague pay tribute to late governor
Politics now driving markets more than central banks – BIS review
“Precipitous decline” in correlations implies markets no longer in thrall to central bank policy; US dollar credit still on the rise despite MMF reform; tensions in Chinese markets
Don Kohn: ‘Rancorous’ political climate enhances need for ‘non-partisan expertise’
The Fed veteran and Central Banking Lifetime achievement award-winner says central banks will find it “even more difficult” to improve their performance and public regard, given the current political backdrop
Lifetime achievement award: Donald Kohn
Donald Kohn’s objectivity, intelligence, humour, tireless energy and iron determination to get the job done epitomise the role of a dedicated public servant. He serves as an inspiration to others
Finnish paper analyses Chinese central bank’s ‘window guidance’
PBoC may have to move away from using lending quotas, researchers argue
Sri Lankan central bank rejects finance minister’s accusation
Bank says it followed existing law in issuing and re-issuing bonds
Norges Bank increases staffing in 2016
Annual report shows 8% increase in staff levels, as well as changes to the governance structure; central bank makes a slight loss due to exchange rate movements
Danish central bank conducts $670 million FX intervention
Danish central bank conducts largest intervention in FX market since June 2016; analysts say demand for krone will continue, but interest rate hike is unlikely
CBRT under pressure as inflation breaches 10%
Consumer prices rising at their fastest rate since 2012, leaving the central bank in a difficult position
Lautenschläger warns UK over response to Brexit
ECB may start regulating the largest investment companies, senior supervisor says; warns that continued euro clearing in London will depend on legal framework
Pace of Brazil's monetary easing could increase, minutes show
Copom says evolution of economic performance and the level of the structural interest rate will dictate pace of easing cycle; fiscal policy could reduce structural interest rate
Iran needs to overhaul monetary operating framework – IMF
Absence of policy rate and emergency lending facilities is creating instability, fund warns; central bank council “dominated” by representatives from other government agencies
Bank of Spain upgrades cash-handling directorate
New directorate-general will handle regional branches and banknote production
RBNZ’s Wheeler: policy now has ‘neutral bias’
Risks to future rate movements “equally weighted”, governor says, though plenty of domestic and global risks could knock the outlook off course
RBA paper assesses FOMC’s forecasting performance
RBA and Fed economists collaborate on study of forecasting errors by the Federal Open Market Committee
Bank of Namibia takes over government-owned commercial bank
Bank of Namibia removes SME Bank’s chief executive after “suspicious investments” in South Africa; all banking services will continue to operate
FOMC’s Brainard: Fed may need to raise rates in near future
“Drag” on US economy from foreign and domestic factors decreasing, FOMC member says; Brainard also calls for shrinking Fed’s balance sheet as rates rise
Sarb shares back on sale after long legal battle
Central bank’s lawyers have been grappling with activist investors since before the global crisis; court victory allows Sarb to put shares on sale
RBI’s Gandhi thinks blockchain’s capabilities are being ‘overstated’
Deputy governor says virtual currencies issues on a blockchain network pose a number of risks; fintech industry starting to wake up to blockchain’s “exaggerated” benefits