News
ECB argues risk of deflation is 'remote'
Monthly bulletin sets out criteria for what the European Central Bank considers deflation, as opposed to ‘subdued price developments of a less malign nature’
Bank of Ghana admits monetising government debt
Central bank offers relief as investor flight drives sovereign bond yields to spike; ‘printing money to finance the deficit' will cause inflation and currency depreciation, Fitch warns
Bank of England joins with UK Treasury in sweeping financial markets review
Markets review initiated by government, which includes the central bank and Financial Conduct Authority, will look at conduct and transparency in financial markets
New Zealand hikes OCR again; Indonesia and South Korea hold firm
Reserve Bank of New Zealand raises its key rate for the third time in 2014; Bank Indonesia and Bank of Korea hold policy despite above- and below-target inflation respectively
IMF launches global house price observatory to 'nudge' prudential policy-makers
Fund sets up website to help countries keep track of and compare housing sector developments and prompt them into ‘early action' on booms and busts
Fed's communication on tapering ‘careless and whimsical', says new BoE deputy
Ben Broadbent, incoming deputy governor for monetary policy, says the Bank of England is likely to provide ‘disciplined' guidance on asset sales
People: Venezuela finance minister to sit on central bank board; and more
Venezuelan finance minister gets a seat on the central bank board; Bank of Japan London representative moves home to head up international division; and more
Provopoulos steps aside as Stournaras named new Bank of Greece governor
Yannis Stournaras, until Monday Greece's minister of finance, will be the new governor of the Bank of Greece pending cabinet approval, when Provopoulos's term expires next week
Rogoff and Ball cross swords over 4% inflation target
IMF publishes Laurence Ball paper outlining the benefits of higher inflation; Ken Rogoff says switching to an electronic currency is a more ‘elegant’ solution to the ZLB problem
PBoC aims to galvanise lending by cutting reserve ratio for small banks
People’s Bank of China insists its monetary policy stance ‘has not changed’ as it cuts reserve requirements for smaller banks
Bank of England initiative bolsters cyber defenses
BoE joins with commercial actors in bid to shield the UK financial sector against cyber attacks; tests based on hackers' own techniques
Bank of Korea slowly tackling gender imbalance
Number of female hires at Korean central bank grew steadily throughout former governor Kim Choong Soo’s tenure; first female deputy governor appointed in July 2013
Hungary central bank hails pro-growth policies as IMF urges caution
Central Bank of Hungary sticks to easing cycle in face of IMF warnings; says growth in SME lending is down to its Funding for Growth Scheme
Mexico cuts while Colombia hikes, signalling diverging growth trajectories
Both central banks are fighting above-target inflation but Mexican expectations are more firmly anchored; Colombian economy to reach full capacity this year, bank says
Nigeria's ousted governor makes transition to Muslim 'spiritual leader'
Sanusi Lamido Sanusi was appointed emir of Kano, a northern Nigerian state, on Sunday; influential post could make Sanusi a source of ‘frustration' for president, says analyst
Bank of Mauritius could push for new interest rate power
Bank of Mauritius task force says the central bank should be able to regulate interest rates; publishes 100 recommendations for improving terms and conditions of banking contracts
IMF agrees BoE should raise rates before tapering QE
Bank of England should raise interest rates before shrinking balance sheet, Fund says; notes ‘challenge' in communicating how monetary and macro-pru policies interlink
Bitcoin success won't mean death of central banks, say Haldane and Qvigstad
Bank of England chief economist and former Norges Bank deputy write paper examining evolution of central banking from inception through to a digital future
People: German and Dutch central banks lose board members; Philadelphia Fed appoints research head
Longest-serving Bundesbank executive board member to step down; Netherlands Bank loses governing board member; Philadelphia Fed replaces departed Loretta Mester; more
Borio: current account is a ‘badly inadequate' measure of financial risk
BIS director says still not enough attention is paid to capital account but adds build-up of vulnerabilities also requires looking directly at balance sheets of cross-border institutions
Solomon Islands ‘still adjusting’ to new central bank legislation
Board aiming to achieve one of the lowest inflation rates in region under new price stability mandate; central bank turns to government for recapitalisation after forex losses
New Nigeria governor Emefiele to target unemployment and lending to 'key sectors'
New governor says bank ‘cannot sit idly by and concentrate only on price stability' at first press conference; unemployment rate to play key role in monetary policy decisions
Central African central bank needs liquidity management overhaul, IMF says
IMF's annual mission to the Central African Monetary and Economic Community called for improved operations at the central bank and reform of government securities markets
ECB set to flood banks with cash as deposit rate turns negative
European Central Bank cuts main rate to ‘lower bound’ and deposit rate below zero; plans to provide banks with up to €400bn in cheap loans to boost lending to real economy