News
UK monetary easing could be pointless, says HSBC
Top HSBC economist says lack of spare capacity in UK economy could make easing risky, with little upside; former MPC member Blanchflower takes 'almost exactly the opposite view'
New deputy governor takes office at RBI
Indian government appoints Urjit Patel to replace Subir Gokarn on the Reserve Bank of India’s governing board; management roles reallocated again
BoE unveils action plan for macroprudential powers
UK Government proposals will enable the Bank of England’s financial policy committee to impose ‘sectoral capital requirements’ to tackle systemic threats early
Asia needs bigger voice in international financial rule-making, say regulators
Regulators from Malaysia, Dubai and Australia call for more countries in the region to take a stronger role in shaping the global agenda
Ukraine replaces central bank head with deputy
Igor Sorkin to take over from Serhiy Arbuzov at National Bank of Ukraine – says he will prioritise currency stability and cut interest rates
Bank of Canada front-runner discusses interest rate rise
Tiff Macklem, tipped to be the next Canadian governor, reveals concern over household imbalances despite ‘signs of stabilisation’ and points to potential interest rate rise
RBI seeks to draw retail investors into government securities
Deputy governor Harun Khan says tailoring government securities to retail investors will help cushion volatility created by institutional and international investors
Disparities emerge in euro counterfeit figures
Figures for euro counterfeits seized in 2012 show wide differences between countries, though not all central banks report totals; ECB unveils security features on new €5 note
Egypt appoints new central bank governor
Egyptian central bank governor resigns, replaced by former deputy; negotiations ongoing with the IMF
Yemen central bank staff prepare to strike over pay
Staff at the Central Bank of Yemen plan strike if management does not agree to demands for improved compensation packages
Fed presidents clash over monetary policy
Presidents of the Federal Reserve banks of Kansas City and Minneapolis offer conflicting critiques of FOMC policy stance
BoJ formally asked to double inflation target
Japanese government pressures Bank of Japan to increase short-run inflation target to 2%; no action likely before next monetary policy meeting on January 21–22
Central Bank of Cyprus defends re-hirings
Central bank employs three members of staff who had previously taken early retirement; defends decision as beneficial in ‘special circumstances’
Singapore authority seeks to cut banknote waste in new year celebrations
Monetary Authority of Singapore urges public to consider using good-as-new banknotes for traditional hong bao new year's gifts to prevent the unnecessary printing of 50 million notes
Draghi denies calls for rate cut as ECB holds again
European Central Bank's governing council holds rate, as inflation and growth remain steady; Mario Draghi optimistic about growing financial market confidence
Banks told they will not benefit from LCR delay
National supervisors tell banks not to lower liquidity buffers, with market forces also pushing banks towards 100% compliance with measure
UK statistics office to keep 'unsuitable' inflation measure
The UK Office for National Statistics will not change how it calculates RPI inflation – but will initiate an alternative index in parallel
Brazil increases gold holdings by 90% in three months
Central Bank of Brazil adds 31.9 tonnes of gold to its reserves between September and November; could indicate a desire to diversify away from the dollar
Recommendation due on UK RPI calculation consultation
The UK's Office for National Statistics will make its recommendation tomorrow morning over whether and how to change how it calculates the Retail Prices Index
Bank of Spain executives hit back at negligence claims
Executive commission rebuts claims made in a leaked internal report that the central bank’s supervisory department tended to ‘look the other way’ when there were signs of criminal activity
Irish governor bemoans sustained large sovereign spread
Patrick Honohan says the cost of Ireland’s funding still reflects a credit risk premium; Government’s €2.5 billion bond issuance met by ‘strong’ investor response
India extends Basel III timetable to let banks raise capital
Decision to push back Basel III implementation motivated by capital concerns, say market sources
National Bank of Austria reshuffles governing board
Governor Ewald Nowotny reappointed for second term; executive director Peter Zöllner departs for BIS, and two new executive directors are chosen
Bank of Canada wants national citizen to succeed Carney
Legislation dictates governor must be a Canadian citizen; advert for new governor released publicly on central bank website