News
UK inflation drops to 0.5%
Consumer price inflation falls to its lowest level since records began, prompting Mark Carney to write his first explanatory letter to the UK chancellor; governor stresses immediate benefits
Central Bank of Nigeria eases rules for bank dollar holdings
Nigeria’s central bank has eased the rules for interbank dollar holdings in attempt to boost liquidity in forex trading market, but one FX strategist warns of ‘marginal impact’
Central Bank of Azerbaijan hits back at FX critics
Forex interventions made in 2014 – buying foreign currency throughout the year and then reversing the trades in a single month – were essential for maintaining stability, central bank says
National Bank of Slovakia governor handed second term
Jozef Makúch is the first governor to be reappointed at the Slovakian central bank; tells Central Banking he is ‘very much looking forward’ to new challenges
Coins and notes with same value to circulate in Angola
Angola’s central bank will issue two new coins in November, of 50 and 100 kwanzas, which will circulate with equal denomination banknotes
Draghi and Rajan strike deal on cooperation
MoU signed on the sidelines in Basel will see ECB and RBI exchange information and cooperate on technical matters, banks announce
Heavy snowfall forces Central Bank of Jordan shutdown
Central bank and commercial banks were forced to close their doors as the Middle East was battered by a freak snowstorm; president urged people not to venture out
Turkmen central bank chief ousted as economic malaise worsens
Gochmurat Muradov is the latest in a string of Central Bank of Turkmenistan chairmen to be dismissed after only one or two years in the post; deputy chosen to take over his position
People: Philadelphia Fed gets new directors; Paraguay central banker named finance minister
Jon Evans and Carol Johnson are appointed to the Philadelphia Fed board of directors; Central Bank of Paraguay loses member of the board of directors to the government; and more
Fed earns $116bn on QE assets in 2014
Regional Fed banks transfer just under $100bn in earnings to US Treasury, a 27% increase on the previous year; operating expenses totalled $3.6bn
The winners of the Central Banking Awards 2015
Raghuram Rajan wins Governor of the Year while Reserve Bank of New Zealand picks up Central Bank of the Year; Jacques de Larosière honoured with Lifetime Achievement Award; 12 more awards announced
Belarus central bank hikes key rate by 500bp
National Bank of the Republic of Belarus announces raft of measures to stabilise country's exchange rate; increases policy rate and reinstates currency basket peg
PBoC to accelerate reform process in 2015
Chinese central bank signals more financial reforms and a faster opening of financial markets in 2015; focus on ‘prudent’ monetary policy but more stimulus a possibility
Sri Lanka governor tenders resignation after new president sworn in
Ajith Nivard Cabraal announces wish to step down midway through term following ‘shock' elections; deputy says reason is to avoid 'conflicts' with finance ministry
Reserve managers shun the euro, IMF data shows
International Monetary Fund data from the third quarter of 2014 shows a significant hit to euro reserves following negative interest rates
SNB expects profit of $39 billion for 2014
Foreign currency positions responsible for most of the profit for Swiss National Bank, which increased its forex reserves by 7% in December following exchange rate pressure
Central Bank of Venezuela grants exchange rate boost to state oil company
Venezuela's state-owned oil company can now sell its dollars from certain export contracts at the highest exchange rate in the country; president hints at exchange rate reform
Riksbank ready to launch new measures ‘at short notice'
Swedish central bank prepared to launch unconventional measures in February, minutes reveal; board member says currency interventions inappropriate as other countries struggle
Uruguay central bank president replaced with predecessor after one year in job
Mario Bergara handed second term as central bank president; he first held the post between 2008 and 2013 and replaces Graña after just a year in the job
BoE wartime minutes show sharp contrast between Court of then and now
Minutes from 1914-1946 show an evolving Court of Directors, but one radically different from today; the latest release covers both World Wars and the Great Depression
Fed signals rate hike despite drop in inflation
Minutes suggest Fed will tighten policy despite expecting inflation to remain below target for 'some time'; rate hike unlikely for 'at least the next couple of meetings'
Bank of Jamaica set for new powers in 2015
Central bank on track to assume responsibility for financial stability; will start conducting annual reviews to track ‘readiness’ for full-fledged inflation targeting
Eurozone inflation goes negative with QE looming
Annual HICP inflation falls to -0.2% in December due largely to plummeting oil prices; expectations rising for ECB to expand asset purchases on January 22
IMF paper suggests looser monetary policy to offset eurozone macro-pru policies
Staff paper examining housing markets in Denmark, Ireland, Spain and the Netherlands also proposes restricting banks' ability to pay dividends in order to absorb losses