News
Riksbank minutes highlight ‘unexpectedly rapid’ currency appreciation
Minutes of the Rikbank’s September monetary policy meeting show all board members raised concerns about the strength of the krona; governor says action is needed in eurozone
Giff 2012: Central bank action enables Europe to reverse fiscal austerity, says Turkish deputy prime minister
Central banks have created a ‘window of opportunity’ for governments in Europe and elsewhere to embark on fiscal expansion to spur short-term growth, says Turkish deputy prime minister
Giff 2012: Malaysia’s Zeti calls for a ‘bridging’ of economies to promote Islamic finance
Bank Negara Malaysia governor says Islamic finance has emerged from the financial crisis in a position of strength, but more co-ordination is needed to ensure the industry continues to flourish
Former Seychelles governor denies drawing double wage
Pierre Laporte repudiates claims he is receiving dual salaries from the government and central bank; follows circulation of an anonymous letter accusing him of corruption
IMF-World Bank announces location for 2015 meeting
Annual meetings of central bankers and finance ministers to be held in Latin America; events to include discussions of global economic and financial developments and policies to reduce poverty
Bulgarian governor against accession to banking union
Ivan Iskrov expresses opposition to the idea of Bulgaria joining the proposed EU banking union; discusses protecting domestic economic interests
Giff 2012: Experts divided on Islamic finance as financial stability panacea
Speakers and delegates attending the Global Islamic Finance Forum in Kuala Lumpur split on role Islamic finance can play in alleviating global financial instability
BIS raises fears over lower global growth trajectory
Bank for International Settlements Quarterly Review says global growth outlook deteriorated further over the quarter; warns of diminishing benefits to unconventional monetary policy
Time to rethink the centrepiece of economic management, says Gieve
Former deputy governor of the Bank of England challenges role of independent central banks pursuing inflation-targeting mandates
Fed’s Lacker explains dissenting vote on QE3
Jeffrey Lacker sets out reasons for vote against quantitative easing; says it will have a weak effect on growth, carries potential inflation risk and raises issues about the Fed’s mandate
HKMA imposes tighter property loan guidelines
The HKMA details new guidelines aimed at borrowers with multiple property mortgages; seeks to restrict the amount of debt individuals can acquire
Basel Committee unveils revised core principles
Updated core principles for effective banking supervision released; Basel Committee says 'more than 100' national banking supervisors endorsed the latest document
Asian central banks have ‘positive’ record with dual mandates, says former BoT deputy
Bandid Nijathaworn says combined monetary and macro-prudential policy mandates have worked well in Asia; Asean+3 credit guarantee set to boost region’s corporate bond market
Banque de France plans to reduce regional presence
French central bank outlines development goals for 2020; set to decrease the number of regional sites, will lose up to 2,000 staff
IMF mission calls for ‘urgent’ action on Serbian economy
Fact-finding mission calls on government to restore fiscal credibility and support growth; says steps need to be taken to strengthen National Bank of Serbia’s autonomy
Concerns raised over impact of Fed’s QE3
Federal Reserve to purchase $40 billion of mortgage-backed securities each month until US economy improves; doubts arise over effectiveness of the policy despite positive market response
BoE begins search to replace King
Job advert for the role of governor of the Bank of England is published; CentralBanking.com poll reveals expectation for the next chief to come from another central bank
Spain’s Restoy highlights ‘demanding’ timetable for single-supervision mechanism
Deputy governor of the Bank of Spain applauds 'well founded' eurozone-wide banking oversight plan; but says schedule for implementing the changes will be tough
SNB maintains minimum exchange rate
The Swiss National Bank announces an unchanged minimum exchange rate; Swiss franc has not depreciated as expected
Spain’s Frob gets extra funding ahead of further bailouts
Spanish Treasury increases endowment to the Fund for Orderly Bank Restructuring; BFA-Bankia confirms receipt of initial tranche of bailout funding
French circus to perform as part of ECB cultural days
ECB reveals programme for cultural days 2012; spotlight for annual event falls on France and will for the first time feature a circus production
Ingves delivers regulation implementation ‘reality check’
Chairman of Basel Committee on Banking Supervision stresses importance of ensuring implementation of new regulations; sets out areas of focus for international reforms
Bank of Estonia appoints deputy governor to supervisory role
Madis Müller becomes a member of the supervisory board of the Financial Supervision Authority; takes over in October
Thai governor says Basel III needs improvement
Governor of the Bank of Thailand says Basel III is too tough on trade finance and simple derivatives transactions; discusses challenges facing the eurozone