News
Glenn Stevens lifts veil on RBA comms strategy
Reserve Bank of Australia governor Glenn Stevens says guidance on the future path of interest rates has ‘served its purpose’ and tells markets what to look for next
Yellen takes sides in ‘lean against the wind' debate
Federal Reserve chair says monetary policy faces ‘significant limitations as a tool to promote financial stability'; macro-prudential policies ‘far more direct' and effective
Zeti calls for governance overhaul at central banks
Bank Negara Malaysia governor Zeti Aziz says central banks need to understand ‘the new realities’ of crisis management; argues for new internal committees dedicated to the cause
Italian socialist tipped to lead ECB-watching Econ Committee
Roberto Gualtieri likely to be elected as chair of the Econ Committee next week in the European Parliament, making him the chief point of contact with the European Central Bank
Tombini says inability to instil confidence ‘central explanation' for weak recovery
Central Bank of Brazil governor says ‘longer period of normalisation of monetary policy' a possibility; domestic inflation 'under control' and likely to remain ‘well behaved'
ESRB publishes framework for calibrating CCBs
European Systemic Risk Board identifies the indicators EU member states should use when building, reducing and releasing their counter-cyclical capital buffers
Fed levies record fine on sanctions-busting BNP Paribas
The Fed's fine of $508 million is part of a massive $9 billion fine for the French-based banking group for dealing with Iran, Cuba and Sudan in violation of US sanctions
BIS's Caruana warns low interest rates are ‘self-validating'
Persistent low interest rates can become self-validating, BIS general manager Jaime Caruana warns, in annual speech in which he called for greater international co-ordination
Plosser: Fed should be stripped of dual mandate
Charles Plosser says the Federal Reserve should ‘focus solely’ on price stability, as monetary policy has ‘very limited ability’ to influence employment
BoE scraps 170-year old weekly balance sheet ‘snapshot' to hide emergency liquidity
Bank of England to remove data on emergency liquidity provision from weekly statement, in a step away from full transparency in the interest of financial stability
Bulgarian central bank calls for jail time after bank runs require emergency liquidity
Bulgarian National Bank says those destabilising the banking system should face jail; bank run met with emergency liquidity from the government
Questions mount over Bank of Ghana's involvement in airlift of $3m football bonus
Experts say central bank must have been aware of $3m government operation that breached forex controls imposed by the bank in February
France and Luxembourg join race to become Europe's renminbi hub
France and Luxembourg next in line for clearing banks after striking deals with PBoC over the weekend; French institutional investors also granted permission to invest in China
BIS warns central banks to bite the bullet on monetary policy normalisation
BIS annual report says it may already be too late for a gradual exit from unconventional policy; warns markets may pre-empt exit if they feel central banks are behind the curve
Dutch central bank to cut size of governing board
The Netherlands Bank says it will reduce the size of its governing board in November when it loses some of its powers to the SSM; only president and three directors will remain
Bank of Lithuania joins with country's oldest university to set up research centre
Collaboration aims at promoting ‘practical application' of scholarly undertakings; Bank chair notes criticism that Lithuanian economics is ‘detached from reality'
Turkish central bank in broad social media push
Bank joined four social network platforms this week in bid to raise public's financial awareness; also says it will aim to foster ‘habit of saving and encouraging the use of' lira coins
RBNZ weighs ‘European presence' to aid reserve management
Reserve Bank of New Zealand says it will review whether a full-time European presence will improve returns on forex reserves; outlines plans to replace vaults
RBI hiring 53 sportspeople out of civic duty
Reserve Bank of India is looking to recruit people from a host of sporting backgrounds, including cricket and table tennis, to working in support roles at the central bank
Tarullo says Fed must ‘hone' stress test regime
Fed governor says some firms still lack ‘reliable information' about their business exposures; hints at more attention to developing tests' macro-prudential elements
BoE introduces ‘ground-breaking' macro-pru measures to prevent housing bust
Mark Carney unveils a cap on high loan-to-income mortgages and affordability test; influential MP calls it a ‘major departure' for UK financial policy
Bank of Uganda halves number of MPC meetings
Uganda’s central bank says ‘less frequent’ policy announcements will help businesses plan; MPC will now meet every other month
Bank of Thailand promotes five assistant governors
Thai central bank names five assistant governors in anticipation of a host of retirements in September; follows appointment of new deputy governor last month
Incoming BoE chair highlights ‘extraordinary' lack of women in bank's top ranks
Anthony Habgood, chairman of the Court of the Bank of England, highlights 'crying gender gap'; also raises questions about BoE's ‘one bank' merger, which he says may turn out ‘slightly awkward'