Central Banks
Norway’s pension fund may be close to peak, Olsen says
Norges Bank governor says Norway should not count on being able to build its sovereign wealth fund much further, and must brace for a difficult period of rebalancing after the oil boom
Christchurch recovering after quake, RBNZ paper finds
Economy proves ‘resilient’ to earthquake as rebuild continues; uncertainty around the timeline puts off businesses from investing in the region
Paraguay’s Valdovinos: world has a lot to learn on macro-prudential tools
Paraguayan governor underscores importance of macro-prudential policy but says global economy still has a lot to learn; monetary policy is 'too blunt' to solve all problems
Liberian president’s son becomes acting governor
New acting central bank governor is Liberian president's son, source says; Charles Johnson Sirleaf has spent over 10 years at the central bank
End of sanctions offers chance to fix Iran’s banking sector
Iranian banks struggling with high levels of non-performing loans may see their situation improve, but deep reforms are needed and the political situation remains complex
Hungary central bank action ‘distorting’ swaps curve
The Central Bank of Hungary has offered up 1 trillion forint notional of cheap interest rate swaps, driving down bids for receiver swaps and government bond yields, say dealers
Domestic inflation remained ‘benign’ in 2015 – Rwandan statement
Inflation in Rwanda continued to record “moderate” and “low” levels throughout last year; current monetary policy stance “justified”
Argentina inches towards repaying debt
Montreux Partners LP and EM Ltd settle; four creditors yet to agree on removing injunction
CCPs: too interconnected to fail?
The likely responses by national authorities to the possible failure of CCPs in stressed conditions aren't generally assured. But they may be reluctant to allow them to fail, writes Richard Heckinger
Paraguay’s governor on the ‘new normal’ and inflation targeting
Central Bank of Paraguay governor Carlos Fernández Valdovinos explains why the global economy must adapt to the 'new normal' and how Paraguay is coping with falling commodity prices
Book notes: Between debt and the devil, by Adair Turner
Adair Turner offers a lively and well-structured account of his proposals to radically overhaul the financial sector
ECB governing council minutes stress need for good communication
Members of the ECB’s Governing Council agreed on the need for good communications but disagreed over the evidence of second-round effects in recent wage dynamics, minutes show
Peso depreciation casts shadow over Mexico rate decision
Central bank adamant it is not in a hiking cycle after 50bp rise; government taking steps to enforce measures on Pemex
EBA publishes guidelines for co-operation agreements between deposit guarantee schemes
European Banking Authority lays out guidelines for agreements between EU deposit guarantee schemes; clear principles should lessen conflict and make mediation easier, authority says
Global growth has ‘flat-lined’, says OECD chief economist
Global economy expected to expand no faster than in 2015; current monetary policy stance ‘insufficient’ to spur growth
FOMC members agree uncertainty over US prospects has ‘greatly increased’
Global uncertainty and financial market volatility increases downside risk for US economy, FOMC members say; committee members express different views over use of fan charts in projections
Book notes: Debtonator, by Andrew McNally
A lucid book questioning society’s bias towards debt and against equity
South Africa continues to make progress in market conduct regulation, deputy governor says
Sarb in communication with regulators about revised code of conduct; next stage to be completed in ‘coming months’
BoE’s Furse sees benefits to UK as a global finance hub
External FPC member sees plenty of reasons why policy-makers in the UK should seek to make the economy attractive to global financial firms; says robust institutions are important
People: Philadelphia Fed names first VP; five new vice presidents at AIIB
James Narron named vice-president and COO of Philadelphia Fed; five new vice-presidents join executive team at AIIB; and more