Central Banks
Weak eurozone data add weight to ECB rate cut talk
Expectations of a rate cut mount as unemployment and inflation figures disappoint, although many question whether lower interest rates would have a significant impact
BIS paper urges central banks to build their own financial buffers
Paper provides framework for central banks to assess the financial resources they should hold to protect themselves against losses; Jaime Caruana stresses importance of financial independence
Sri Lankan inflation drops one-third in two months
Central bank reveals inflation drop for second successive month; had earlier hinted at rate cut if slide continued
MAS fears supply-side hindrance to growth and inflation
Singapore’s macroeconomic review laments ‘tepid and volatile’ growth; central bank expects moderate economic recovery and steady inflation in 2013
BOFIT paper finds Turkish depositors prefer banks with political connections
Study analysing Turkish banks finds those with former members of parliament among their top executives are subject to 'less discipline' from depositors
BoE statistics indicate gradual lending improvement
Lending targeted by funding for lending scheme continues to creep towards positive figures; large gap between lending to individuals and to businesses
Czech central bank opposed to joining banking union
Vice-governor says Czech National Bank will recommend staying out of SSM; ECB's Asmussen calls on non-eurozone countries to decide by July
New Bank of Zambia powers help tackle tax avoidance
Amendment to Bank of Zambia Act bolsters central bank's ability to monitor flows of capital in and out of the country; economists suggest money could be ‘leaking out'
IMF issues warning to Asian central banks on risk of overheating
Regional Economic Outlook says some Asian central banks may need to tighten policy to avoid stability risks; examines complicated effects of Japanese monetary easing
People: Bank of Italy's Saccomanni becomes Italian finance minister; Kuroda replaced at ADB
Director-general at Italian central bank gets top government role; Takehiko Nakao moves from Japanese finance ministry to head Asian Development Bank
Bundesbank research proposes improved structure for counterparty credit risk
Discussion paper finds ‘quadri-partite’ structure gives best results for managing counterparty credit risk
Sri Lankan governor defends economy against stories of ‘economic doom and mismanagement’
Ajith Cabraal says local and foreign stakeholders are being misled over the true state of the Sri Lankan economy; central bank may cut rates if inflation continues to fall
Central bankers back equity investment for reserves
Almost two-thirds of respondents to CentralBanking.com poll believe central banks should invest some of their reserves in equities; most say investment should be kept below 10% of portfolio
Riksbank doves defeated on rate cuts despite broad support for easing, minutes show
Minutes reveal that despite unanimous support for ‘more expansionary’ monetary policy, majority of board members voted to hold rates due to household debt fears
Bangladesh Bank pioneers annual report on green banking
Report measures contribution of central bank and commercial banks to green finance; Bangladesh Bank refinances lending for ‘environmentally beneficial’ projects
BoE paper backs CCP discretion over optimal resource allocation
Researchers conclude that central counterparties should be given some leeway to set their own provisions against loss
SNB's Jordan slams gold referendum
Thomas Jordan says limiting Swiss National Bank's control over gold reserves would be ‘detrimental to Switzerland'; reveals location of holdings in face of public pressure
People: New governor for Central Bank of Venezuela; Bank of Lithuania gets new board member
Venezuelan president Nicolas Maduro has nominated Edmée Betancourt to take over at the top of the central bank; Norges Bank economist to return home for Bank of Lithuania board seat; and more
BoJ board more optimistic on inflation forecast
Updated forecasts by board members show expectations creeping closer to 2% target; lack of further monetary easing disappoints markets
Hong Kong consolidates dominance as offshore RMB hub
HKMA annual report shows continued rapid rise in renminbi trade flowing through Hong Kong; new Hibor fixing seen as latest manoeuvre to stay ahead of competition
FDIC's Hoenig calls for more action to correct incentives for financial companies
Speech to Asian bankers in Jakarta examines role of incentives in leading to the crisis, and hampering recovery
Winston Churchill to appear on Bank of England’s next new banknote
UK set to release new £5 banknote series in 2016 featuring portrait of former prime minister Winston Churchill; honours his parliamentary and literary work
IMF calls for unconventional measures to tackle eurozone fragmentation
David Lipton says ECB will probably have to use unconventional measures to overcome credit crunch in peripheral eurozone members
Hong Kong to launch offshore renminbi benchmark rates
Treasury Markets Association plans to introduce a range of offshore renminbi interbank rates, to ‘spearhead’ development of offshore renminbi markets