News
New Jamaican banknotes mark 50 years of country’s independence
Bank of Jamaica introduces new notes commemorating 50 years of political independence for the country; hybrid substrate used for first time
Troika maintains pressure on Greece
Officials from the European Commission, ECB and IMF will return to Greece in September to check on reform progress; central bank chief reportedly tells government the country is being 'defamed'
IMF urges Russian central bank to tighten policy
Article IV consultation recommends ‘gradual further tightening’ of monetary policy; preparation needed for informal inflation targeting in 2014
BoE’s Tucker says bail-ins part of too-big-to-fail solution
Paul Tucker says bail-ins are an ‘important topic’ for policy-makers trying to address the issue of ‘too-big-to-fail’ banks; hints others are considering similar options
RBI’s Subbarao discusses regulating banking innovation
Duvvuri Subbarao outlines Reserve Bank of India’s efforts to regulate innovation in payments systems; says 'foresight and wisdom' are needed by both innovator and central bank
People’s Bank of China makes growth top priority
Latest quarterly report on monetary policy puts growth of the economy at the heart of the central bank’s efforts; recent statistics show continuing slowdown in world’s second largest economy
Serbian governor quits as government faces pressure over new law
Dejan Šoškić resigns as governor of the National Bank of Serbia; IMF and European Commission blast government plans to amend central bank law
Fischer calls for Israeli government action on deficit
Bank of Israel governor says government’s decision to increase its fiscal deficit instead of raising taxes will hurt future generations; impact will be most acute should eurozone fragment
IMF urges US policy-makers to take action against fiscal cliff
Conclusions of IMF Article IV consultation with US highlight risks from fiscal cliff and debt ceiling; calls on policy-makers to strike deal at ‘delicate juncture’ for world economy
Draghi says ECB ready to make further bond purchases
ECB president says central bank is prepared to intervene in sovereign bond markets to prop up ailing eurozone economies; ECB holds rates, as does Bank of England
Reserve Bank of Fiji grapples with credit card surcharge decision
Fijian central bank looks to Australian experience of updating rules regarding credit card surcharges; weighs up benefits of allowing additional charges ahead of final decision this month
Bank of Korea reveals July gold purchase
Korea adds hundreds of millions of dollars' worth of gold to reserves in July; FX reserves swell by $1.97 billion to $314.35 billion
PBoC, BoJ and Bank of Korea governors meet in China
Central bank governors meet to discuss economic and financial issues in the three countries; yearly meeting held as part of efforts to strengthen co-operation and communication
Ghana central bank governor nominated as vice-president
Kwesi Amissah-Arthur is put forward by current president of Ghana to become vice-president; choice of current central bank head could call institution’s independence into question
UK Funding for Lending Scheme opens
Bank of England and UK Treasury’s Funding for Lending Scheme window opens to UK banks and building societies; institutions have 18 months to borrow cheaply under the arrangement
Brazil updates 10 and 20 real banknotes
Central Bank of Brazil releases latest new notes into circulation; total overhaul of currency underway to incorporate advanced security features
Central Bank of Barbados launches charity coin collection
Public encouraged to hand in one cent coin collections; all proceeds will be donated to the Barbados Alzheimer’s Association to go towards building a day care centre
Swiss National Bank posts profit in first half of year
Latest figures show central bank made a profit in first half of the year; majority of gains come from holdings of foreign currency purchased to maintain minimum exchange rate against euro
Thailand reports improved economic conditions
Senior director of macroeconomic and monetary policy department notes overall better conditions in second quarter of 2012; European debt crisis has caused problems for export market nonetheless
India holds rates as growth expectation falls
Reserve Bank of India releases First Quarter Review of Monetary Policy 2012–13; holds rates, lowers growth prediction and raises inflation projection
FMI resolution report published for consultation
CPSS and Iosco seek comments on new standards for recovery and resolution of financial market infrastructures; discuss how FSB’s work on resolution regimes will be taken into account
Ex-UK MPC members discuss future of eurozone
Panellists at event in London say euro will survive but with a smaller group of countries; argue UK is in dangerous position to respond to eurozone collapse
Fed reveals final rules for fraud prevention adjustments
Rules released permitting debit card issuers to receive an adjustment for fraud prevention; maintains cap of one cent a transaction but simplifies requirements
Central Bank of Bosnia and Herzegovina reports drop in counterfeits
Figures show 76% drop in counterfeits recovered in Bosnia and Herzegovina; new banknotes with improved security features hailed for large reduction in fake currency seized compared to last year