News
Bank of Finland looking to streamline and upgrade payments simulator
Economist sheds light on the bank’s plans for adding new features, improving efficiency and integrating agent-based modelling
Changes to central bank law mooted in the Philippines
Proposed changes include oversight of more financial institutions as well as the capacity for the central bank to place harsher sanctions on illegal transactions
ECB delays decision on policy redesign
Mario Draghi says committees will investigate “smooth implementation” of asset purchases, but offers no new policies today; highlights signs of greater willingness for government action
George and Lacker push back against calls for Fed governance reform
Presidents say mixed public-private funding and governance helps protect the independence of the regional Feds, though others warn private banks are having too much say in policy
People: Turkish deputy appointed; Dominican Republic governor and deputy to serve again
Former HSBC and Citigroup banker joins the ranks of the Central Bank of Turkey; long-standing Dominican Republic governor and deputy invited to serve again; and more
Kganyago justifies Sarb’s response to ‘troubling mix’ of issues
Sarb governor says the public should be “satisfied” but not “happy” with the current economic outlook, given that monetary policy has only offset some of the problems causing high inflation
Carney deflects criticism of Brexit response
MPs question BoE officials on whether broad package of monetary easing was an overreaction; Forbes explains four factors behind dissenting vote
Swedish inflation starting to look stronger, as Riksbank holds
Outlook is “fraught with uncertainty”, central bank says, though the domestic economy seems to be returning to more normal levels
Volatility in virtual currencies will not deter usage – new research
Model implies exchange rate will become less volatile as virtual currency becomes more established, questioning idea that volatility will impede use
‘Iconic’ Irish central bank property put on market
No asking price for Dame Street site – sale is by best bid; more than 1,500 central bank staff to move to new site in North Wall Quay
Norges Bank to publish minutes for first time
Central bank plans to release details of all aspects of executive board meetings except for monetary policy deliberations, citing growing interest and requests for disclosure
German economist wins central bank prize
Klaus Adam wins award jointly sponsored by SNB, Bundesbank and National Bank of Austria for “innovative work” on asset prices and monetary policy
BoE exhibition to juxtapose new fiver with historical banknotes
BoE to open currency gallery a week before the launch of the new £5 note; museum to feature banknotes from eras throughout history
University of Buckingham to launch first central banking master’s degree
Monetary economics to form core of the year-long course; university hopes programme will enrol around 12-15 students in the first year
RBNZ tweaks LVR rules following consultation
New rules to apply to investors nationwide, placing 5% “speed limit” for lending above LVRs of 60%; proposed new measures to come into force in October due to banks’ deadline concerns
More than AML fears driving correspondent banks away from Arab economies – report
AMF-IMF-World Bank survey of banks in Arab nations finds a broader de-risking to be behind pull-back of correspondent banking, though trend is uneven
Rajan debunks central banking myths in final address
Outgoing governor completes valedictory tour with a cross-examination of the contradictory demands on the RBI, restating the value of central bank independence
Nepalese central bank governors banned from retiring to financial sector
“Cooling-off” period adjusted for central bank employees under new legislation; former governors prohibited from working in the financial sector
Malawi launches newsletter on financial inclusion and consumer protection
Latest financial inclusion initiative to inform members of the public about new developments in the market as well as improve financial literacy; newsletter forms part of larger national initiative
Former Irish governor calls for higher inflation targets
Concerns about the consequences of raising inflation targets are overblown, say Patrick Honohan and three other monetary policy experts
People: Debelle becomes RBA deputy governor
Foreign exchange expert becomes deputy governor of RBA; Mongolia appoints deputy governor
Central Bank of Bahrain looks to establish stronger sharia governance
Formal framework specifies governance structures banks must put in place if they are to be licensed as Islamic, in an attempt to establish best practice
RBA launches first banknote with edge-to-edge window
Twelve-year project cost the bank $37 million; new series to feature pioneering security elements and is the first to trial tactile features for the visually impaired
Australia’s Future Fund doubles its money
Sovereign wealth fund is now twice the size of its initial endowment, driven in part by alternative investments and private equity; warns future returns likely to be lower