News
UK inflation fall takes markets by surprise
Analysts say bigger-than-expected drop in price rises gives Bank of England more room for manoeuvre on monetary policy, but no change is still expected at the next MPC meeting
Fed’s Bullard recommends QE for ECB's next move
St Louis Fed president and FOMC voter says quantitative easing has worked in the US and Japan, and could be made to work in Europe on a GDP-weighted basis
BoE opens up its macro models in push for transparency
Bank of England publishes details of its main macroeconomic models as part of drive for transparency prompted by Stockton Review; models to be adapted and developed to eradicate errors
German banks adopt Step2 for domestic payments
EBA Clearing reveals seven German banks will use the Step2 payments system to process and clear their domestic payments, converting in the second half of 2013
Riksbank risk survey reveals rate-rise fears
Participants in Sweden’s fixed-income and forex markets raise concerns over interest rates rising faster abroad than at home; unemployment data fuels call for a rate cut in the near term
People: MAS’ Menon re-appointed; National Bank of Ukraine gets new board member
Ravi Menon will serve another two-year term at the helm of the Monetary Authority of Singapore; Ukraine's head of forex joins the board; Danish consumer champion becomes central bank director
Zimbabwean central bank chief slams ‘reckless’ indigenisation
Gideon Gono asserts his authority over the indigenisation of the country’s banking sector; Standard Chartered still operating despite government threat to withdraw licence
BoE's Tucker sets out priorities for orderly cross-border resolutions
Paul Tucker examines the many issues facing authorities seeking to wind down failed banks without taxpayer support, including cross-border co-operation and choice of single or multiple entry points
RBNZ releases blueprint for macro-prudential tools
Central bank outlines decision-making process behind macro-prudential intervention; says there is more room for policymaker judgement than in monetary policy
IMF ‘policy book' tackles Mena central bank challenges
IMF's monetary and capital markets department analyses operational frameworks of Mena central banks, and obstacles to monetary policy; urges Basel III adoption
Wall Street hoping for Fed reprieve for derivatives desks
Investment banks fear they will be subject to section 716 of the Dodd-Frank Act unless Federal Reserve gives relief
European bank stress tests will wait for SSM asset quality review in 2014
European Banking Authority says next round of EU-wide stress testing will be postponed to allow asset quality assessments, which ECB says could kick off in the third quarter this year
BoE’s Weale wary of further easing damaging inflation expectations
Martin Weale says recent MPC remit change allows committee more freedom to deviate from inflation target, but reiterates need for the Bank of England to retain credibility on inflation
Leaked document shows deep IMF concerns about Cyprus bail-out
IMF approves Cyprus support package but leaked 'internal document' exposes depth of reservations about the plan among the IMF's executive board
IMF gives verdict on unconventional monetary policies
Report says unconventional policies seem to have delivered benefits, particularly during acute stress, but cautions that estimation is difficult and effects vary based on a host of factors
Caruana tells central banks to focus more on financial stability
BIS general manager calls for central banks to adopt a 'fully integrated macro-financial perspective' and lengthen policy horizons when financial stability concerns grow
Fed director says rest of world lagging behind on cross-border resolution
Michael Gibson says US has had its resolution authority in place for years, but slow progress in other jurisdictions is causing delays; FDIC chair says talks with G-Sib host countries are ongoing
RBNZ gets macro-prudential go-ahead
New Zealand’s’ central bank tools up with four macro-prudential instruments; analyst says continued growth in house prices could prompt action before year-end
Orphanides lambasts European ‘blunders’
Former Central Bank of Cyprus governor attacks European authorities for mismanaging sovereign debt crisis; holds communist party responsible for Cypriot bailout
DR Congo central bank names new governor
Head of markets given the nod as Jean-Claude Mulongo steps down after three terms; takes over after dramatic cycle of tightening drags inflation into single digits
Legal action against Bank of Spain already seeing results, claims lawyer
Lawyer representing shareholders in failed Spanish bank Bankia claims he has a 'very strong' case against the regulators, though the courts are expected to take a ‘cautious line'
King shows cautious optimism with last inflation report at BoE
Growth forecast revised up and inflation down for the first time since the financial crisis; Report reflects new communications policy recommended by Stockton Review
BoE's Tucker weighs in on 'unco-ordinated' global regulation
Bank of England deputy governor says cross-border agreements can overcome national barriers to resolution
Europe's finance ministers inch closer to bail-in framework
Meeting of finance ministers, the ECB and the European Commission highlights differences between member states but strikes a hopeful note for agreement