News
ECB will stay in asset markets - Draghi
Asset purchases will continue, but at a lower monthly rate; ECB to accept cash as collateral in securities lending programme
Civil rights activist to appear on new Canadian $10 banknote
Viola Desmond will appear on new C$10 note, to be printed in 2018; Bank of Canada to repeat "bankNOTEable” campaign when seeking candidates for new C$5 note
IMF to tackle effects of globalisation in 2017
Fund says it will focus on bringing the benefits of globalisation and technology to a wider section of society, amid a populist backlash against openness
Ink rubbing off notes ‘quite normal’, says Zimbabwe governor
Despite public outcry, governor says bond notes have so far been a success; launch of second tranche to bring total value of bond notes in circulation to $17 million
Denmark’s economy set for a boom, says Rohde
Latest release of reports show Danish economy is resilient and set to grow in the next two years; governor Rohde still concerned about house prices
Nabiullina warns of low growth in Russian economy
Bank of Russia governor advocates three-year budget rule and structural reforms to counteract economic weaknesses
BoE’s Salmon seeks to fix deadline for delayed Libor replacement
Chris Salmon sets three-month target to finalise transition plan and reach decision on design for risk-free rate
UK’s PSR announces shake-up in provision of payment services
UK’s payment system regulator to open door to competition in national payment infrastructure; regulator sees benefits to Mastercard’s planned takeover of Vocalink
Patel defends approach to banknote crisis, as RBI holds
Governor offers some clarity on progress with note withdrawals and question of “extinguishing” parts of balance sheet; rate hold surprises market
St Louis Fed president may support rate increase
Bullard cautions future real interest rates likely to stay flat; says Trump administration can only alter low interest rate environment by improving productivity
People: Senate approves new Mexican deputy; Lagarde appoints Jihad Azour
Former head of finance ministry’s debt office to take on senior role at Bank of Mexico; Azour joins IMF team, leaving Lebanon’s finance ministry; and more
Ukraine’s central bank calls for action against illegal forex dealers
NBU says authorities failed to act against 32 illegal operations in Kyiv; says it will publicise further information on unauthorised forex dealers
Changing policy impact may knock forecasts askew – Riksbank economists
Economists suggest systematic errors of forecasts in recent years may reflect changes in the effectiveness of monetary policy
Federal Reserve conducts in-depth study into distributed ledger technology
Central bank publishes first paper discussing the benefits of distributed ledger technology in the realm of payments, and clearing and settlement; use of DLT could address “financial frictions”
Route ahead unclear for Italian banks
At least one bank faces major loan book problems; European law may present difficulties with recapitalisation and “bad banks”
Carney hits back at critics of monetary policy’s distributional impact
Monetary easing has disproportionately benefited the poor, BoE governor says; loss of open markets “would be a tragedy, but is a possibility”
Tajik central bank launches consumer protection push
Plan could create stability and growth if it is successful, but resource constraints are a challenge, National Bank of Tajikistan says
Venezuela central bank launches new banknotes amid soaring inflation
The bolivar has weakened to unprecedented levels as inflation soars and political instability engulfs the nation; new note series’ highest denomination is 200 times larger than current highest
BoE unveils database of macro-prudential policies
Researchers attempt to classify the myriad forms of macro-prudential policy, compiling panel data on when policies were tightened and loosened in different countries
Singapore fines two foreign banks for 1MDB-related breaches
Investigations continuing into Goldman Sachs’ role, the regulator says
Bank of Korea embarks on ‘coinless society’ project
Central bank wants to eradicate use of coins by 2020; first stage of the project to use electronic travel passes to pay for goods and services
Bank Negara Malaysia’s new site draws on award-winning designs
Responsive new site launched after in-house team conducts benchmarking exercise on award-winning central bank sites; head of electronic communications explains the evolutionary process
Norges Bank recommends higher equity share for oil fund
Declining global growth and lower volatility suggest a larger equity share is both desirable and manageable, central bank says
Carstens to succeed Caruana at BIS
Bank of Mexico governor will step down in 2017 to take on top job at the Bank for International Settlements