News
IMF projections may be ‘too pro-cyclical’ warns Vergara
Central Bank of Chile president questions whether a drop in productivity has occurred recently, suggesting potential growth was actually ‘lower than previously thought all along’
Caribbean countries should use fiscal policy to fight exchange market pressure
Report from economists of several Caribbean central banks lays out the path for fiscal sustainability in the region; recommends using exchange market pressure as trigger for fiscal correction
Fed presidents still divided on timing of rate hike
Heads of the Federal Reserve Banks in Atlanta, Boston and Cleveland offer different takes on current economic conditions; all united in desire for more data
Constâncio fleshes out wider macro-prudential vision
Vice-president at the European Central Bank wants toolkit to extend to a wider range of financial entities, including asset managers, as risks emerge elsewhere in the system
Bank of Portugal was ‘overly cautious’ intervening in BES
A more assertive attitude from the Bank of Portugal could have resulted in the ‘possible mitigation of impacts’ arising from the BES case, finds parliamentary committee
Lagarde calls for ‘new multilateralism’ and pledges to move ahead on reform programme
Global policy agenda for coming year says the integration of key emerging market economies would ‘generate positive global spillovers and stability gains’
IMF: China at risk of ‘disinflationary feedback loop'
Oversupply of real estate pushes down inflation, pressuring real interest rates and straining bloated balance sheets, Fund warns in flagship report
ECB adviser admits more clarity needed over stress tests
Banks should be given a clearer picture of why their stress test numbers don’t pass muster with the ECB, says Christoph Siebenbrunner of the Austrian National Bank
Financial stability risks on the rise, IMF warns
Global financial stability report warns risks have increased and ‘rotated’ in the past six months, with emerging markets now more vulnerable
Protester shocks Draghi at ECB press conference
President’s opening remarks disrupted by protester rushing the stage; Draghi regains composure to deliver upbeat message on impact of QE in eurozone
Norway SWF pioneers new activist approach at BP and Shell AGMs
Norges Bank Investment Management says it will vote in favour of resolution for more in-depth reporting of climate change risks by BP in AGM tomorrow
Morocco takes ‘first step’ to flexible exchange rate
Moroccan central bank takes ‘first step in the transition to a more flexible exchange rate regime’ by revising its currency basket, as advised by the IMF
Sri Lanka, Indonesia take different tacks despite common imbalances
Central Bank of Sri Lanka cuts interest rates while Bank Indonesia holds; both banks are grappling with external deficits, making them vulnerable to outflows
SMEs benefit from easier European credit standards
Latest ECB bank-lending survey shows credit standards continuing to ease for enterprises in Europe during the first few months of this year; demand for loans widely expected to increase further
IMF sees strong dollar shaping global recovery
IMF chief economist sees benefits in exchange rate movements at launch of World Economic Outlook, but warns sharp alterations could ignite international tensions if they persist
Frob challenges ‘are not minor’ despite losing powers to SRM, says Restoy
Fernando Restoy outlines the latest activities at the Fund for Orderly Bank Restructuring, ahead of European reform that will strip the institution of most of its powers
IMF urges BCEAO to ‘closely follow’ macro-prudential risks
The Central Bank of West African States has increased the provision of liquidity to commercial banks, which in turn are buying more government debt, increasing risks to financial stability
RBI gives website a makeover
Content on new site is divided according to the RBI’s different functions; search facilities and social media presence also updated
Singapore dollar ticks up as MAS holds fire
Monetary Authority of Singapore leaves exchange rate policy unchanged despite falling prices in January and February, cites tight labour market
Argentines ask central bank for higher-denomination banknotes
Argentine bankers’ associations urge the central bank to print higher-denomination banknotes, as ATMs filled with 100 peso notes struggle to meet public demand
Mozambican central bank balances food import pressures with domestic industry concerns
Bank of Mozambique holds interest rates as it comes under pressure over the value of its currency; accused of artificially propping up the value of the metical
Bank of Portugal governor calls for a European monetary fund
Costa believes such an institution is the only way to ‘guarantee stability’ in Europe; ESM head Regling says current model has created ‘successful status quo’
PBoC continues leadership reshuffle
Two assistant governors appointed at the People’s Bank of China; swap lines agreed with Australian and South African counterparts
Nigerian reserves head believes renminbi can ‘complement’ euro and dollar
Lamido Yuguda discusses the benefits of a multipolar system and how the Central Bank of Nigeria is managing its renminbi investments in a new book