News
Hildebrand succumbs to pressure and resigns
Governor of the Swiss National Bank steps down; mounting political pressure follows uproar over wife’s currency trading activities
Central Bank Directory highlights rise in female central bank governors
Four new female governors takes worldwide total to 12; Central Bank Directory also notes 4.1% increase in central bank staff in European Union
Lagarde expresses concerns ahead of crucial meeting with Hungary
Christine Lagarde stresses importance of Hungarian authorities' compliance with the European requirements ahead of key discussions over financial aid in Washington
Fed champions further action to revive housing market
Federal Reserve publishes review of policies to address impediments in US housing market in bid to revitalise economic recovery
Belgium’s Coene believes in commitment of eurozone countries
Governor of National Bank of Belgium says even if Greece were to leave single currency, other member states would draw together to "protect the system"
Basel implementation monitoring strategy approved
Basel Committee governing body agrees plans to monitor member countries' efforts to implement new rules; also discusses liquidity coverage ratio
Fed 'very close' to adopting inflation target, says Bullard
St Louis Federal Reserve president says FOMC nearing agreement to introduce inflation targeting in US; move is part of effort to improve transparency at the Fed
Fitch downgrades Hungary credit rating to junk status
Hungary long-term foreign issuer default rating lowered to BB+; outlook remains negative according to rating agency
Albania approves monetary policy strategy for 2012-2014
Bank of Albania renews monetary policy strategy; offers clarifications and elaborations on previous versions of aims
CNB minutes reveals falling koruna allowed rate hold
Czech National Bank minutes shows weakening koruna allowed central bank board to leave rates unchanged at 0.75%
Commemorative euro coin launched
Eurozone countries issue new €2 coin to commemorate 10 years of the currency; few central banks announce the move
Hildebrand defiant over currency trade row
Swiss governor will not resign, expresses regret at political attack on the Swiss National Bank and reveals details of how information was leaked
Hungary's borrowing costs soar
Yield on Hungarian 10-year debt exceeds 10% amid investor concern that Budapest will not receive IMF assistance
Iceland receives final Nordic cash injection
Central Bank of Iceland receives last tranche of loans from Nordic countries as part of IMF deal to build foreign exchange reserves; agrees to delay loan from Poland
Philippines quarterly review brings mixed news
Central Bank of the Philippines reports lower than expected growth, but remains positive about economy’s outlook in latest Report on Economic and Financial Developments
RBI abolishes limit on mobile banking transactions
Reserve Bank of India allows unlimited mobile banking transactions; move follows large increase in use of mobile technology
Swiss governor faces questions over wife’s currency trades
Kashya Hildebrand bought US dollars shortly before Switzerland imposed limit on franc to euro value; Swiss National Bank denies dodgy dealing by governor
Fed to release ‘projections’ for future policy
FOMC minutes reveal committee members’ expectations for future monetary policy will be incorporated in Summary of Economic Projections documents; part of Fed’s improved transparency plan
Netherlands Bank warns of Sepa information gap
Dutch central bank to launch communication campaign to aid consumers with limited knowledge about the European payments project
Praet named ECB’s de facto chief economist
European Central Bank executive board member Peter Praet will take over economics responsibilities at central bank
Banque de France to slash personnel numbers
Banque de France to replace only 50% of retirees in attempt to lower staff numbers; 2,500 posts to be lost by 2020
Hungary passes controversial central bank bill
Hungarian parliament votes in favour of amendments to National Bank of Hungary law; central bank warns that law presents serious threat to economy
Lithuania overhauls banking supervision
New streamlined financial markets supervision body will save government $1.9 million a year; economist in charge of new Supervision Service
Zambian parliament ratifies new governor
Zambian politicians agree on candidate to take over the role of governor of the central bank; Michael Gondwe fills void at top of the institution