News
Bank of Brazil hikes rates for the fourth time in as many months
Brazilian central bank deploys primary monetary policy weapon in a bid to hold back inflation and open another front to support the real, following intervention in the currency markets
Canada deputy says QE exit may be ‘more benign’ than critics fear
Despite Canada’s close ties to the US, Bank of Canada deputy governor John Murray believes tapering of Fed asset purchases will have less of a negative impact than many pundits fear
Czech governor slams one-size-fits-all regulation
CNB workshop considers impact of Basel III on emerging and smaller economies; participants consider the unintended consequences of both capital and liquidity rules
Carney's BoE walks fine line between stimulus and financial stability
Bank of England governor Mark Carney’s maiden speech includes announcement of relaxation of bank liquidity rules; insists the central bank is in charge of interest rates, despite market moves
Bank of Jamaica will continue to tighten liquidity conditions
Governor Brian Wynter says central bank will keep on issuing ‘special securities’ to ensure exchange rate stability; unconcerned by recent increases in inflation rate
US needs to improve supervision of insurers, FSB peer review concludes
Dombret-led review says US is making progress in reducing systemic risk, but insurance supervision architecture is ‘fragmented'; FSB also publishes progress report on compensation practices
Iran central bank appoints new governor
New Iranian president names commercial bank veteran to take over at the top of the central bank; priority will be taming inflation now running at around 40% a year
Jackson Hole speakers question viability of central bank co-operation
BoE deputy Charlie Bean says it is not ‘viable’ for advanced central banks to internalise the spillovers from their monetary easing; academics argue co-operation could create extra costs
Sweden puts FSA in charge of financial stability
Central bank passed over as government stresses importance of democratic accountability; new financial stability board and bolstered foreign exchange reserves also announced
Israel central bank reinstates September meeting due to market volatility
Bank of Israel reverses a decision not to meet around the Jewish new year; u-turn likely to have been influenced by market expectations that the Fed will begin to 'taper' next month
BIS sizes up derivatives reforms and Basel III progress
Bank for International Settlements releases one report on the expected benefits and costs of OTC derivative reforms, and another on countries’ progress in implementing Basel III
Lagarde tells central bankers not to 'rush to exit' on QE
Speaking at Jackson Hole, the head of the IMF said unconventional monetary policies were "still needed in all places it is being used" and that it was unclear what "exit" actually implied
Economists weigh Fed exit at Jackson Hole
Robert Hall warns against tightening policy too soon; Arvind Krishnamurthy lays out exit path that would see Fed selling its Treasury portfolio while maintaining its purchases of MBS
Central bank independence in the spotlight as Indonesia joins EM currency ‘panic'
Bank Indonesia joins central banks in Brazil, India and Turkey in taking unconventional steps to stem currency sell-off; concern emerging markets are targeting currencies over inflation
Sarb looks to rein in money market liquidity
South African Reserve Bank concerned that high levels of liquidity could threaten the monetary policy transmission mechanism; plans to drain excess cash over a number of years
Adia CFO bagged by Texas real estate company
Jim Hime leaves the Abu Dhabi SWF for USAA Real Estate on September 1 after serving three years as chief financial officer of its real estate and infrastructure department
Mauritius introduces polymer banknotes
The Bank of Mauritius joins an exclusive but growing group of central banks that is looking to plastic money to curtail counterfeiting
Yellen must overcome deputies’ curse to take Fed chair
Fed vice-chair Janet Yellen will need to avoid joining Paul Tucker, Tiff Macklem, Karnit Flug and other discarded deputies to take the top job at the Fed as governments increasingly favour outsiders
Israeli banking supervisor floats full risk weights for mortgages
Draft guidance presented to Bank of Israel advisory committee yesterday would also force banks to limit the use of variable interest rates and do away with long-term loans
Fed contemplates change to forward guidance
Minutes from the FOMC’s July meeting show members were divided over the outlook for the US economy, and on the prospect of tinkering with the Fed’s forward guidance
Central bank insider selected to run Russia's new ‘mega-regulator'
As head of the FMS, Sergey Shvetsov, a Bank of Russia deputy, will be in charge of ‘controlling, regulating and supervising' the country's financial markets from September 1
People: StanChart's new global RMB team; RBC hires Asian equities head from JPM
Carmen Ling quits Citi to head Standard Chartered's new global renminbi-focused team; RBC hires new head of Asian equities from JP Morgan in Hong Kong; and more
Turkish central bank embarks on daily dollar sales
Announcement follows yesterday's decision to raise interest rates, but fails to stop lira hitting record low against Western currencies
RBI loosens liquidity as long-term rates spike
Reserve Bank of India moves to ease liquidity squeeze, as measures to support the currency see long-term rates hit 12-year high