News
Bank of Russia overhauls organisation as it prepares for expanded remit
Responsibility for financial regulation will shift from a government body to the central bank in September; the bank has also created new departments of monetary policy and statistics
Mozambique cuts rates again as inflation undershoots target range
Inflation in Mozambique has fallen below the central bank's target range despite IMF predictions to the contrary; measures in place to improve monetary policy transmission
RBNZ plumps for ‘speed limit’ on lending restrictions
Reserve Bank of New Zealand says any restrictions on banks' high loan-to-value mortgage lending will take the form of a quota over time, as opposed to an outright ban
CPSS, Iosco and FSB publish reports on FMIs
CPSS and Iosco says member states are making ‘substantial progress’ towards establishing their principles for financial market infrastructures; FSB offers new guidance for resolution
RBI launches ‘open-ended' measure to bolster weakening rupee
Weekly sales of short-term debt to absorb liquidity is the latest in a string of attempts to rein in Indian foreign exchange volatility
Fed's Fisher reshuffles senior team; RBNZ gets new directors
Harvey Rosenblum, who has attended more FOMC meetings than any other active participant, retires from Dallas Fed, causing a senior re-shuffle; New Zealand appoints two directors to Reserve Bank board
Blejer heads up new Bank of Israel shortlist
Former Central Bank of Argentina governor is new front-runner for the Bank of Israel top job; former Israeli deputy Zvi Eckstein also submits application
Sandra Pianalto to retire next year
Cleveland Fed president Pianalto calls time on a 30-year career at the bank; successor will sit on the FOMC in 2014
Central Bank of Peru grapples with Fed tapering while rooting for a US recovery
Peru is more insulated against shocks to its financial system than in the past but managing uncertainty has never been tougher, central bank governor Julio Velarde tells Central Banking
RBI study warns against rate cut to stimulate growth
Study by members of policy and statistics departments says any benefits of a rate cut would be offset by higher inflation; Rajan points to stronger economic institutions as the key
RBA cuts growth forecast and suggests further easing could follow
Reserve Bank of Australia lowers its forecast for December’s growth rate; could follow up this week’s rate cut with another as labour market conditions weaken
RBI policy document pushes CCIL closer to QCCP status
Indian central bank takes explicit responsibility for supervising the Mumbai-based clearing house
German experience offers macro-prudential lessons for Europe, says Buba's Dombret
Germany's approach to macro-prudential oversight could offer insights into how to democratise ‘hard' policy tools and define the role of national central banks, says the Bundesbank's Andreas Dombret
IMF shuts up shop in Budapest as Hungary clears its debt
Central Bank of Hungary repays remainder of its €1.44 billion loan ahead of schedule; IMF’s Budapest office will close at the end of August as part of ‘a message to voters’
BoJ and BoK vote to keep interest rates unchanged
Bank of Japan keeps rates at zero and will continue asset purchases for 'as long as necessary' to hit 2% inflation target; regional impact of possible US tapering remains uncertain
MAS announces eleven changes to ‘leadership bench’
The majority of the Monetary Authority of Singapore’s senior management team are either changing jobs or job descriptions; former chief risk officer at GIC is the only outside addition
Zimbabwe governor says return of local currency is not on the cards
Gideon Gono issues post-election statement on country's multi-currency regime; tells banks and investors to stop panicking and get on with their boardroom strategies
Zoellick joins Temasek board under new chairman Lim Boon Heng
Singaporean sovereign fund appoints new chairman to take over from long-serving Dhanabalan; American political heavyweight joins as Temasek looks to establish a presence in the US
Romanian interest rates could fall yet further, says central bank
National Bank of Romania uses quarterly inflation report to signal it is likely to continue monetary easing, as inflationary pressures dissipate and growth remains weak
Bank of England ties monetary policy to unemployment
MPC will not raise interest rates or unwind its asset purchases ‘at least until’ the unemployment rate falls below 7%; unlikely to happen within the next three years according to latest forecast
Raghuram Rajan picked as RBI governor
Former IMF chief economist credited with seeing the financial crisis before it happened chosen by Indian government to head the country's central bank; appointment hailed as an 'excellent choice'
IMF reports show French and German banking sectors are key to European stability
IMF urges France to do away with tax disincentives to deposits in an effort to broaden banks' funding sources; emphasises Germany's role in forging a robust eurozone financial architecture
Peter Praet delves deeper into ECB forward guidance
The ECB executive board member explains why the central bank issued forward guidance and how it will work; emphasises the importance of money dynamics in determining future policy
BIS banking department deputy makes switch to State Street OIG
Founder of State Street's Official Institutions Group John Nugée will retire in October, and be replaced by Louis de Montpellier of the BIS