News
BoE unlikely to predict next financial crisis, says MPC member
BoE MPC members grilled by MPs in forecasting models and past errors; Vlieghe says current models are just not good enough
People: Riksbank’s Nessén takes on new advisory role; Albizu retains CMCA chair
Riksbank’s head of monetary policy takes on new board advisory role; Dominican governor reappointed by peers to serve as the CMCA’s chairman for another six years; and more
Nigeria’s central bank rolling back forex restrictions
Allocation rules are scrapped under the new regime, while all forex dealers must open outlets at airports to aid travellers; additional forex is to be made available for tuition and medical expenses
Banks fear fresh burden from new EU branch supervision plan
EBA insists enhanced supervision of largest branches will not bring additional requirements
IMF warns Bank of Mongolia against fiscal financing
Latest round of funding contingent on central bank making changes, mission chief says; support provided to help government deal with bond default, but fiscal changes must be made
Fed’s Mester says public should not hold policymakers to ‘unrealistic account’
Monetary policy cannot and should not be used to spur productivity growth, says FOMC member; unwinding of Fed’s mortgage portfolio may help guard it against calls to enter the realm of fiscal policy
Kuroda flags need for better network of emergency forex liquidity
Bank of Japan governor warns network of swap lines among major central banks may not be enough as systemic banks reach into a broader set of regions
Seychelles to demonetise old 100- and 500-rupee notes
Improved security features need to be “put to best use”, says the central bank; the general public have until June 29 to spend or exchange the old banknotes
Norway’s Olsen warns of dangers of dipping too deeply into oil fund
Norges Bank governor says risk of a sharp decline in the fund’s value becomes much greater if the government increases its oil revenue spending
New Australian $10 to feature works of native authors
RBA launches second banknote in new series, celebrating native authors; new note will feature similar security elements to new A$5 launched last year
Basel III has aided system stability, interbank models suggest
Model predicts future crashes will not be total wipeout
ECB profit for 2016 rises on asset purchase income
Supervisory charges on banks rise by €105 million
Bank of Uganda cuts rate as inflation outlook improves
The near-term inflation outlook worsens, but latest forecasts shows recovery within the target band; the IMF’s Lagarde praises the central bank for its “prudent” approach
Rosengren warns Fed may have to increase pace of tightening
Data suggests that the US labour market is tightening, Eric Rosengren argues
‘Old Lady of Threadneedle Street’ crowned Central Bank of the Year
Despite criticism around Brexit, the Bank of England came out on top in 2016, helping to calm markets in a turbulent year; African central banks scoop awards for website and risk manager
Malaysian government opens case on historic forex losses
Task force to probe heavy losses of Bank Negara Malaysia in the early 1990s, which reportedly included costly bets against George Soros
Yellen calls for “sustainable” fiscal policy
Bank lending has grown since passage of Dodd-Frank Act, Fed chair tells Congress
BoE says launch of £10 to go ahead, despite tallow traces
UK central bank will continue to print the £10 on the same substrate as the controversial fiver; options may be reconsidered for the £20
People: MAS picks chief for new data group; SBP deputy reappointed
MAS appoints machine-learning specialist as chief data officer; State Bank of Pakistan deputy gets another term; long-serving IAIS secretary-general to step down
Communications are Canada’s forte, latest set of awards show
Bank of Canada scoops Central Banking’s Transparency Award for 2017, while currency providers dominate the market practitioner categories
BoE to work with Anomali on cyber intelligence
Cyber security firm to work with BoE on its 'Threatstream' technology to improve the bank's threat intelligence framework and the sharing of such information
Spanish ex-governor to appear in court over ‘Bankia affair’
Three Bank of Spain employees resign over investigation of commercial bank collapse
RBNZ presses ahead with dashboard plan, despite bank concerns
Banks raise fears over the dashboard plan to publish disclosures on RBNZ website, but the central bank says it believes it can address all the concerns
Barbados’s Worrell told to resign or be fired
Governor’s “dictatorial” management style is impacting morale, says board member; court blocks dismissal until February 22