News
Central Bank of Brazil lowers bank reserve requirements in bid to boost liquidity
Reserves held against deposits cut in half as CBB hopes to inject $20 billion into economy; move ‘seems to be aimed squarely at getting economy going ahead of elections', says analyst
European and Asian central bankers meet to discuss monetary policy spillovers
East Asian governors hosted ‘high level dialogue' with Eurosystem counterparts, and appointed RBNZ deputy Spencer to chair financial markets working group
Kazakh central bank fund seeks advisers on managing $110bn reserves
Consultants sought to help direct country's reserve management strategy and SWF's growth in the alternative assets space
IMF calls for clarity on BoE monetary framework ahead of first rate hike
Bank of England ‘will need to announce soon what its new monetary control framework will be', the Fund says, adding it is ‘waiting to hear' from the bank
Central Bank of Turkey tells lenders to drop all euros from reserve holdings
Only dollars will be allowed as a substitute for liras in required reserves, central bank announces; lenders forced to sell €12.7 billion
Richard Cooper calls for monetary policy co-ordination to smooth global exchange rates
Harvard professor proposes internationally-agreed targets and gradual capital controls to mitigate worst effects of fluctuating exchange rates
Sovereign bonds offer ‘return-less risk' says GIC's head of fixed income
The returns on offer from the biggest sovereign bond issuers offer too little return even for the small level of risk associated, says GIC's managing director in charge of fixed income
Ethical investment may not mean higher returns, says Norway fund chief economist
Ethical investment is ‘consistent with earning good returns' and suits a long-term strategy, but there is no evidence linking higher returns with avoiding unethical sectors
People: Sri Lanka and Nigeria add new monetary policy-makers; and more
Sri Lanka appoints secretary to the monetary board; professor joins Central Bank of Nigeria's monetary policy committee; New York Fed announces 51 new appointments
BoE moves to prepare UK banks for EU recovery and resolution rules
UK central bank moves to implement EU Bank Recovery and Resolution Directive, a key piece of legislation to prevent taxpayer bailouts of banks
New Zealand SWF to invest in catastrophe reinsurance
Catastrophe insurance's strong liquidity and cyclical nature makes it a good fit for New Zealand sovereign wealth fund, investment strategist tells Central Banking conference
ECB data stolen in blackmail attempt
Hackers raid ECB database that contains around 20,000 email addresses of people who have registered for its events; security breach did not impact internal systems
Menon: ‘Too early’ to ease macro-prudential policies
Managing director says there are ‘some indications’ the property market is cooling down, but remains concerned by high prices and household debt
Riyad Bank deputy named Saudi vice-governor
Abdulaziz Saleh Al-Furaih, previously deputy director of Riyad Bank, joined the Saudi Arabian Monetary Agency this week
RMB inclusion in SDR would open way for investment by advanced economies
More advanced-economy central banks would join Swiss National Bank and invest in onshore renminbi assets if the currency was included in SDR
IMF calls on Fed to formally explain policy normalisation strategy
IMF stresses need for 'greater clarity' on how Fed intends to exit accommodative policy stance; warns use of Fed funds rate could 'pose challenge' amid balance sheet reduction
Bank of England 'edges closer' to rate rise
Mark Carney notes ‘quickest job creation on record' since he took office last July amid confusing labour data; market practitioners say likelihood of a rate hike this year is rising
Bulgarian governor offers to step down
Ivan Iskrov says he will resign ‘immediately’ if parliament sets a date for picking his successor; attacks politicians for using the central bank as a ‘plaything’ in their election campaigns
Shirai calls for mechanisms to manage policy conflict
BoJ policy board member says monetary and macro-prudential policies are not necessarily complementary; some Japanese officials view reverse repos as a macro-pru tool
Ireland names new chief economist
Gabriel Fagan leaves ECB to join Central Bank of Ireland; succeeds Lars Frisell, who now lectures in the IMF Africa Training Institute in Mauritius
Philippines should divert reserves to form a SWF, says BSP’s Medalla
Senior Central Bank of the Philippines official calls for excess reserves to be siphoned off into a new sovereign wealth fund
IMF staff note: Structural reforms 'more desirable' than nominal wage cuts in Europe
International Monetary Fund staff note says ‘many reforms’ are still needed in deficit countries; highlights benefits of greater fiscal integration in longer term
FSB issues guidelines for reform on interest rate benchmarks
Basel-based body calls for development of ‘nearly risk-free’ reference rates as alternative to scandal-hit benchmarks such as Libor
Bank rules would be stricter if UK left EU, says Bowles
European Parliament helped protect industry from tough trade finance capital requirements as well as blanket CVA charge, former MEP tells House of Lords inquiry