News
BoJ predicted to expand QQE, within limits
Analysts are predicting the Bank of Japan will increase asset purchases next month, but researchers are warning of speed bumps ahead
Riksbank is working on ‘big data’, says Skingsley
Deputy governor speaks to Central Banking about bringing together experts on big data, the possibility of leaning against the wind, risks in the housing market and more
Finland governor donates month’s pay to help refugees
Erkki Liikanen will donate €10,000 to the Red Cross to help refugees; Mario Draghi says any European should be ‘horrified by the tragic loss of life happening on our doorstep’
CPMI-Iosco launch next phase of data aggregation work
Standard-setters begin consultation on first batch of key data on over-the-counter derivatives, as part of work on data aggregation by trade repositories
ECB spruces up premises with tree sculpture
Italian artist creates 17.5 metre sculpture of a tree using bronze and granite to be displayed at the main entrance of the European Central Bank’s headquarters
Negative rates working as planned, says Riksbank’s Cecilia Skingsley
Transmission of negative rates is working well and there is room to ease further, deputy governor says, despite the possibility of unwanted side effects; changing inflation target a ‘bad idea’
MAS takes step to facilitate capital sourcing across Asean jurisdictions
Singapore central bank issues implementation handbook with Thai and Malaysian regulators for firms looking to raise capital in other Asean countries
US unemployment falls to 5.1% despite drop in jobs growth
Richmond Fed president describes it as a ‘right-down-the-middle-of-the-fairway’ unemployment report, as he spells out why the time is right to begin raising interest rates
Safe as houses: designing a more stable mortgage
A conference at the New York Fed earlier this year looked at some innovative mortgage designs that could boost financial stability. Central Banking approached some of the speakers to learn more
Draghi stresses willingness to act as ECB cuts inflation forecasts
Governing council holds policy as ECB staff cut inflation forecasts over the forecast horizon; Mario Draghi stresses QE could run beyond September 2016 if necessary
National Bank of Kazakhstan sets base rate for first time
Central bank sets new benchmark interest rate at 12% in first monetary policy meeting under inflation targeting framework
IMF urges central banks to retain easy monetary policy
Ahead of the G20 meeting in Turkey the IMF prepares a briefing on policy challenges; tells central banks to prevent real interest rates from ‘rising prematurely’
BoE reveals new £20 note will be polymer
Next series of £20 banknotes will feature polymer substrate, in line with £5 and £10 notes; as yet unnamed visual artist will be included in design
Israel’s bank supervisor looks to split credit card companies from banks
Hedva Ber has revealed plans to boost competition in financial sector, including forcing two of the largest Israeli banks to sell their credit card companies and creating a credit database
UK payments regulator approves of code of conduct
Big UK banks have published a voluntary code of conduct for those providing indirect access to payment systems, in a bid to improve standards
Australian SWF heads see returns dipping as central banks normalise policy
The chair of the Australian Government Future Fund says easy monetary policy ‘cannot be sustained indefinitely’ and returns are likely to drop in coming years
Carney says BoE can stay independent in face of globalisation
BoE governor says global factors ‘influence but do not dictate’ policy in speech at Jackson Hole; other economists argue central banks should do more to set policy with global dynamics in mind
Fischer upbeat on US inflation outlook at Jackson Hole
Fed vice-chair Stanley Fischer says there is ‘good reason’ to believe inflation will move higher as impact of rise in dollar and fall in oil prices dissipates
Argentine reserves spared as US court overturns ruling
Central bank will not have to pay creditors out of its reserves, US appeals court rules, although the decision is not meant to allow Argentina to ‘continue shirking’ its debts
Case for higher inflation targets takes a knock at Jackson Hole
Thomas Jordan warns higher inflation ‘likely to be associated with considerable costs’ in longer run; academics see little benefit in the Federal Reserve targeting 4%
New Zealand's colour-changing banknote feature hailed as world's first
A colour-shifting bird within a holographic window is main new security feature of the country's first banknote series in 16 years
EAC officials highlight exchange rate pass-through concerns
Both central banks wary of potential for domestic inflation to increase in face of depreciating currencies; concerns over impact of external environment raised in EAC member statement
Fischer watched for rate views as Jackson Hole concludes
Symposium at Kansas City Fed closes with panel discussion featuring Carney, Constâncio, Fischer and Rajan on Saturday; one early session considers ‘international price system’
Ukraine central bank awaits wider regulatory powers
Ukraine’s central bank has achieved significant reforms of the banking sector, but needs a draft law to pass to gain the power necessary to regulate the non-bank sector, World Bank analyst says