News
ECB's Cœuré and Asmussen call for published minutes
Public account 'should include who voted for what, and the reasoning behind that vote', say executive board members; move would bring ECB in line with other major central banks
Peru's congress axes central bankers one week after appointment
New directors at the central bank are among recent government appointees who have been rejected following street protests
Kuroda says QQE is ‘right on track’
Bank of Japan governor believes QQE has already prompted a ‘favourable turn’ in the financial markets and real economy; hopes improved sentiment will translate to demand
Volcker rule is driving reluctance to hold risk, warn currency managers
US banks are holding less risk as they prepare for the requirements of the Volcker rule, leading to more short-term volatility and less liquidity in some currencies
Libyan governor and deputy jobs up for grabs
General National Congress invites applications for the top two roles at the Central Bank of Libya; governor Saddek Elkaber only two years into a five-year term
People: Shirakawa returns to teaching; Bank of Ghana gets new deputy governor
Masaaki Shirakawa takes up position at a private university in Tokyo; Abdul-Nasirhu Issahaku called on to bring World Bank experience to Bank of Ghana; Rod Carr appointed to chair RBNZ board
Central Bank of Somalia slams allegations of corruption
UN monitoring group accuses institution of allowing private individuals to steal $12 billion of public funds; central bank hits back against 'unsubstantiated' claims
IMF endorses Fed monetary policy in Article IV report
Staff report highlights risks associated with exit, including negative impact on the Fed's balance sheet, which could cause a political 'backlash'
Top diplomat wins race to replace Tucker at Bank of England
The UK's EU ambassador will take over responsibility for financial stability at the bank after Paul Tucker starts a teaching job at Harvard in October
Corporates remain lukewarm on offshore RMB, despite reported growth
Data released from Swift this week suggests international trade settlement in RMB continues to grow, but corporates aren't so sure
MAS to lend Singapore dollars against JGBs
Monetary Authority of Singapore and Bank of Japan strike cross-border collateral arrangement; MAS looking to make it easier for banks to manage their liquidity needs
European Commission floats proposal to cap fees on credit card transactions
EC says retailers will make big savings by paying lower fees to their banks, and consumers will benefit through lower retail prices as a result of new regulation
IMF looks to ECB for more monetary easing
IMF encourages the ECB to cut interest rates and launch a new round of long-term low-interest loans to buy more time for eurozone banks and legislators
UAE to mint more small coins - while Ireland starts phasing them out
The introduction of paid parking in shopping centres prompts coin shortage in the UAE; Ireland launches local pilot programme to round bills to the nearest five cents
IMF paper considers impact of quota change
Executive board has expressed ‘considerable support’ for an increase in the weighting of GDP in its quota formula; staff policy paper simulates the most likely changes to the formula’s make-up
Nalm Asia 2013: Central banks should to look to ‘complexity science' to model economic systems
Central banks need to rethink their approaches to modelling financial markets if they want to deploy better predictive models in the future, according to speakers at Nalm Asia 2013
Reserve Bank of India currency measures may have limited impact on rupee
Moves to halt falling rupee may have unintended consequences, according to rating agencies; volatility is expected to continue
Central Bank of Sri Lanka launches national electronic payments system
The scheme, which will allow customers to withdraw cash from any ATMs of participating banks, is similar to one announced by the Palestinian Monetary Authority earlier this month
Central Bank of Nigeria ‘masterstroke’ aims at two-pronged tightening
Move to raise cash reserve ratio to 50% on public sector deposits represents ‘significant tightening' by the central bank, which left interest rates unchanged
BoE bows to persuasion as Austen proves banknotes not just a man’s field
English author will replace Charles Darwin on UK £10 note in 2017; campaign against central bank also yields review into the criteria used for character selection
Hungarian central bank signals rate cut slowdown
Monetary council cuts benchmark rate by 25 basis points for 12th consecutive meeting; says global volatility may justify a change in pace in coming months
Nalm Asia 2013: Asia ‘not shaken' by QE exit talk, says the Philippines' Tuano-Amador
A combination of macroeconomic and macro-prudential tools should enable policy-makers in Asia to deal with large fund flows linked to an end of quantitative easing, says Philippines assistant governor
Singapore brings inflation back in range, but household debt worries persist
Monetary Authority of Singapore warns a return to normal global monetary conditions will carry risks; says 'some' households will be at risk when interest rates rise as US tapers quantitative easing
Turkish rate rise brings easing to an end
Central bank increases overnight lending rate by 75 basis points; MPC signals willingness to tighten further as inflation jumps above 8%