News
Yellen says Fed's balance sheet will shrink ‘considerably'
Federal Reserve chair Janet Yellen hints central bank may stop rolling over QE principal as early as next year; denies that Fed policies have exacerbated inequality by ‘goosing' stock market
Bank of Guyana governor dies of cancer
Lawrence Williams, head of the bank since 2005, dies of cancer after long illness; deputy Gobind Ganga to assume governorship, according to reports
New Zimbabwe governor demands transparency
John Mangudya backs planned reform at the Reserve Bank of Zimbabwe and calls for a more ‘transparent and responsible’ institution
Draghi points to ECB action next month
European Central Bank holds rates but is ‘comfortable’ with the prospect of easing monetary policy following next month’s economic forecasts
IMF pushes Kazakhstan to modernise monetary policy
The National Bank of Kazakhstan should widen its exchange rate band and adopt ‘more effective’ interest rate instruments, the IMF says
Norway SWF axes JP Morgan as global custodian
Citi has secured custody responsibility for Norway's Government Pension Fund Global's $850 billion global equities portfolio
Jeremy Stein casts doubt on Fed's communication strategy
The governor, who steps down later this month, says he failed to appreciate how challenging communicating monetary policy can be before joining the Fed
RBNZ’s Wheeler threatens currency intervention
Graeme Wheeler spells out the Reserve Bank of New Zealand’s concern over its ‘overvalued’ currency, and says the central bank would consider intervening
State secretary takes over at Kyrgyz central bank
Head of the government’s economics department, Tolkunbek Abdygulov, is appointed acting governor of the National Bank of the Kyrgyz Republic at the age of 37
Iran takes transparency lesson from Azerbaijan's SWF
Iran's sovereign wealth fund managers travelled to Azerbaijan to discuss improving fund transparency and international co-operation
Yves Mersch says EU treaty change could entrench monetary and banking union
Changing the EU treaties could, according to Mersch, help strengthen the institutional framework underpinning the Economic and Monetary Union
Central Asia's central banks should shift attention to communication strategies – IMF
While some central banks in the Caucasus and Central Asia ‘require further development of instruments', others may ‘shift attention to communication strategies
OECD urges ECB to cut key rate
The OECD chief economist calls on the European Central Bank to cut its main refinance rate to zero and prepare for ‘additional non-conventional stimulus’
BoE paper emphasises uncertainty over risk to argue for simpler regulation
Misguided ‘quest for ever-greater precision' in bank regulation is creating ‘ever-lengthening regulatory rulebooks' that are hard to communicate and bad at predicting outcomes
China should adopt new intermediate target for monetary policy, say IMF economists
Economists at the IMF analyse demand for money in China and conclude the PBoC would be better off targeting interest rates in the economy rather than monetary aggregates
Central bankers give mixed review of BoE forward guidance
One third of respondents to CentralBanking.com poll say the Bank of England’s second phase of forward guidance is an admission that its first attempt was a failure
Inflation rebound eases pressure on ECB
An increase in annual inflation and an improving credit outlook will help ease the pressure on the European Central Bank governing council, which meets in Brussels next week
BoE's Haldane says time is right to review MPC schedule
Bank's head of financial stability and soon-to-be chief economist says his views on financial and regulatory matters ‘aren't going to disappear'
Yellen promises ‘tailored' regulation for community lenders
Fed chair says regulator will become ‘smarter' in applying rules to ensure smaller lenders can thrive, while still addressing ‘too big to fail'
IMF $17 billion rescue package will see Ukraine head towards IT regime
Ukraine's central bank will, with IMF help, transition to an inflation targeting regime in mid-2015 as part of a $17 billion rescue package agreed last night
Hungary tightens bank forex funding rules
Hungary's central bank aims to smooth out maturity mismatches between long-term foreign exchange loans and the short-term funding banks use
Poland still has euro doubts after decade in EU
The National Bank of Poland could need two years to make technical adjustments before the country can join the eurozone; ERM II presents another hurdle
Bank of England launches review of MPC transcripts policy
Bank of England commissions former Fed governor Kevin Warsh to review practice of destroying records and assess the costs and benefits of publishing meeting transcripts
Fed nominees close in on board member jobs
Stanley Fischer on track to become Yellen's number two after he and fellow Reserve board nominees Lael Brainard and Jerome Powell are given the nod by Senate committee