Central Banks
Polish president picks Adam Glapiński to lead central bank
Board member Glapiński needs approval from parliament before succeeding Marek Belka; both Belka and the markets expect an element of continuity
Norges Bank notes to feature innovative optical thread
Choice of security features swayed Norges Bank away from polymer; new series of notes to feature Crane security thread
BoE paper evaluates macro-prudential roles of bank capital regulation and monetary policy
Authors find counter-cyclical regulation is more effective than monetary policy in promoting stability in the wake of a credit shock
US data can help nowcast Canadian growth, paper finds
Working paper published by Fed board introduces US data into dynamic factor model used for nowcasting the quarterly real GDP growth rate
Aussie dollar drops as RBA cuts inflation outlook
Reserve Bank of Australia cuts forecasts for headline and underlying inflation; lowered its key rate by 25bp to 1.75% earlier this week
People: Nagel leaves Bundesbank; GIC makes string of appointments
Joachim Nagel steps down from Deutsche Bundesbank executive board; Singapore’s sovereign wealth fund creates new posts and fills others; East African Community gets new secretary-general
New UK law confirms Bank of England governance reforms
Bank of England and Financial Services Bill receives royal assent, cutting number of MPC meetings to eight a year; National Audit Office role expanded, but not into policy
ECB sees ‘no clear upward trend’ in most inflation metrics
Inflation measures in the eurozone are subdued, the ECB says; several factors are slowing recovery, including balance sheet adjustments, downturn in emerging markets and slow progress on reform
Political and public support ‘critical’ for macro-prudential policy, says Kohn
Effective communication can help ensure public support for macro-prudential policy, BoE FPC member says; lack of support could encourage political interference
Riksbank adviser Segendorf offers insight into distributed ledger technology
Financial stability adviser evaluates the benefits of adopting distributed ledger technology and what effect digital currencies will have on cash
ECB scraps production of €500 note citing concern over illicit activities
The European Central Bank will stop producing the €500 note over concerns it facilitates criminal activities; move does not aim to increase the effectiveness of monetary policy, spokesman says
Ugandan deputy calls for caution in forecasting deficits
Louis Kasekende warns inflation could be threatened if governments lose access to the market and are unable to meet their borrowing requirements, turning to the central bank instead
Philip Lowe picked as next RBA governor
Deputy governor Lowe will succeed Glenn Stevens, who says there is “no-one better qualified” to lead the Reserve Bank of Australia
Inflation targeting ‘key' for successful de-dollarisation – IMF working paper
Peru's success story suggest "sound" monetary and macro-prudential policy can help de-dollarisation, paper says; favourable global environment helped in case of Peru
Bundesbank's Dombret draws lessons from European CMU for Asia
As Europe constructs its capital markets union, it could offer relevant lessons for Asian economies as they look to finance infrastructure demand in the region, Bundesbank's Dombret says
Central banks may be at risk after Greek website attacked
Denial-of-service attack takes Bank of Greece website down for several minutes; reports point to hacking group Anonymous, and the potential for other central banks to be targeted
New York Fed official stresses third site capacity for FMIs
Richard Dzina argues systemic FMIs should consider maintaining technologically diverse third site solutions to successfully deal with present cyber challenges
World Bank report sees risks if Mozambique continues to raise rates
Report praises efforts of central bank so far but says further tightening could harm certain sectors of the economy; exchange rate volatility having adverse effects on debt
IMF staff call for new macro-prudential tools in Denmark
Danish authorities told to consider placing limits on debt to income ratios; macro-prudential measures suggested by IMF staff to complement existing regulation
Riksbank minutes highlight effort to protect rising inflation
Executive board members saw potential for krona appreciation as a risk to inflation outlook; broad support for additional asset purchases, but some questions over size
Fed presidents navigate ‘mixed signals’
Dennis Lockhart is putting more weight on positive employment picture than disappointing growth stats; both he and Robert Kaplan see potential for labour force to expand