Central Banks
Bank of Tanzania praised for ‘skilfully’ lowering inflation
The IMF praises Tanzania authorities for generating ‘rapid’ growth while clamping down on inflation and encouraging development of sovereign wealth fund
Vatican central bank set up to fight financial irregularities
The ‘outlier' bank's most important task will be to manage foreign reserves, but will need radical changes if it is to clean up the Vatican's finances as the Pope wants
Canada deputy urges pension funds to join clearing service
For repo and derivatives transactions, central counterparties reduce common counterparty exposures and systemic risk, Lawrence Schembri argues
QE for infrastructure investment could be ECB's alternative to ‘pushing on a string'
As the ECB continues to struggle to boost lending in the eurozone periphery, a leading Greek academic is proposing it channels QE through the European Investment Bank
Lithuania may squeeze past eurozone’s asymmetric convergence criteria
The asymmetric nature of the EU’s convergence criteria means that Lithuania, with 0.6% average annual inflation, may only scrape into the eurozone next year
Central Bank of Hungary adopts new constitution
The ‘internal constitution' reinforces central bank's ‘extremely broad range of competencies' and stresses cooperation with government to promote growth
Monetary policy shock hits Norway house prices hard
Meanwhile, impact on household credit is muted, according to Norges Bank working paper; adds findings are consistent with small quarterly refinancing rate of mortgage stock
Senior Estonian central bankers to sit on fiscal watchdog
Bank of Estonia deputy governor and chief economist will sit on an independent body tasked with assessing the government’s fiscal policy
Kuroda: rising inflation expectations feeding into wages
Tightening labour market conditions and higher inflation expectations are both serving to increase wages, Kuroda tells Tokyo audience
Ingves says responsibility for liquidity risk management lies with banks, not regulators
Basel Committee chairman says banks must develop controls to help them manage the liquidity risk that is inherent in their activities of maturity transformation
Bush adviser appointed to Bank of England MPC
Kristin Forbes second woman to be appointed to the all-male committee of nine in two months; former member cautions over lack of labour economics experience on MPC
Canadian dollar holdings could be twice Cofer estimates – Bank of Canada
Study suggests IMF may have underestimated Canadian dollar's rise as reserve currency; growing global demand for government bonds has liquidity implications at home
Bowles turns down ECB invite to join Supervisory Board
Sharon Bowles, who is stepping down from the European Parliament this month, fears the ECB is eyeing an expansion of its influence through macro-prudential policy
Fijian deputy out, governor could be next
The deputy governor at Fiji’s central bank announces his retirement, while the president hesitates over whether to hand the governor a second term
Carney says UK's 3% growth is not ‘escape velocity'
Bank of England governor suggests rates likely to remain at current levels for another year or until recovery is underpinned by productivity pick-up and real wage growth
Central banks must grasp opportunity to shrink balance sheets safely
Central bank purchases of government bonds have turned traditional dogma on its head - but dangers lurk in the unwinding, warns Philip Turner
Central American central bank losses smallest in 25 years
However, capital positions remain weak and would even be negative if claims on governments were valued according to cashflow, IMF study finds
CLS says it will adhere to US sanctions on Russia
The ruble looked set to become the 18th currency to be settled through CLS, and while both the CBR and the industry utility are committed to the deadline, political uncertainties remain
RBNZ remains uncomfortable with house prices
Reserve Bank of New Zealand will maintain its ‘speed limit’ on mortgage lending with high loan-to-value ratios until the housing markets ‘comes into better balance’
Tombini rejects ‘generalised vulnerability’ of EMs
Brazilian governor dismisses notion that exchange rate depreciation in wake of Fed taper is associated with an ‘inevitable, looming’ external payments crisis in emerging market economies
ECB’s Mersch defiant on OMTs
Yves Mersch tells an audience in Berlin the ECB would be willing to buy government bonds in the secondary market before the European Court of Justice’s ruling on OMTs