News
World should brace for impact of rising Chinese exports, report warns
Array of ‘major problems’ afflicting the Chinese economy is likely to require renminbi devaluation, with knock-on effects for the rest of the world, research warns
Fate of renminbi market contingent on Chinese authorities’ resolve
Central bank officials from the UK and continental Europe agree the internationalisation of the Chinese renminbi is contingent on progress of Chinese reform
Gallery: Central Banking Awards 2014
Paul Volcker was the ‘guest of honour’ at the inaugural Central Banking Awards
HKMA rebukes UBS over attempts to rig Hibor
Hong Kong central bank finds six traders at UBS tried to influence the bank’s Hibor submissions between 2006 and 2009; demands remedial action
Reserve managers ‘obsessed' with short-term results, says Passacantando
Former Bank of Italy managing director says central bank reserve managers should take a longer-term view with their investment decisions
Reserve managers stress importance of portfolio transparency
Public report offering detailed disclosure of investment decisions results in reserve managers having 'little to fear', says the Central Bank of Colombia's Marco Ruiz
Polish economist encourages ‘broad’ collateral acceptance
National Bank of Poland’s head of monetary policy analysis identifies risks in central banks adopting an overly loose or overly tight collateral framework
Fed nominee Fischer grilled on Citi ties
Former Bank of Israel governor faces tough questions on ‘revolving door’ between Citigroup and top US government roles; fellow candidates Lael Brainard and Jerome Powell also testify
BoE floats bonus clawback plan
Prudential Regulation Authority issues consultation on new powers to claw back bonuses in case of misconduct; Katharine Braddick reiterates ‘misgivings’ about bonus caps
RBNZ hikes rates for first time in three years
Reserve Bank of New Zealand raises its key rate to 2.75% and signals gradual tightening will continue until the rate has increased by 'about two percentage points'
Banque de France ‘is active’ in onshore renminbi market
French central bank has invested in Chinese government bonds through the onshore renminbi market; Bank of England angles for London clearing bank
MAS spearheads Bitcoin exchange regulation
Central bank is one of the first to act on regulating virtual currency exchanges, although controls are limited to money laundering and terrorist financing
ECB technically prepared for negative deposit rates
The ECB has made the IT adjustments necessary to cut its deposit rate below zero, according to Bundesbank’s deputy head of markets, but the policy has its drawbacks
Nigerian deputy governor moots tax on FDI dividends and capital transfers
Kingsley Moghalu laments emerging markets' ‘Faustian bargain' with short-term portfolio investors; moots explicit measures to stem capital outflows in wake of Fed taper
Praet says ECB minutes could spell end for forward guidance
Executive board member Peter Praet says publishing ‘accounts’ of governing council minutes might reduce the need for forward guidance
Turkish central bank award aims to promote research in central banking
Turkey award follows the Carl Menger Prize for Research launched by the Bundesbank, the National Bank of Austria and the Swiss National Bank in January
Belgian governor’s term extended, successor named
Luc Coene will serve another year as governor despite reaching retirement age this week; Council of Ministers says he will be succeeded by director Jan Smets in March 2015
Cyprus names auditor-general as new central bank governor
Cypriot president moves fast to appoint Chrystalla Georghadji, the head of the state audit office, as successor to Panicos Demetriades, who resigned from his post earlier this week
BoE to create new deputy role amid FX rigging controversy
Bank of England will create new deputy governor post to get a better grasp of financial market dynamics, Mark Carney said in hearing yesterday
Carney pledges to push BoE FX investigations 'all the way'
Bank of England governor Mark Carney pledges to get to the bottom of allegations that UK central bank condoned market manipulation in FX markets
BoE could act as lender-of-last-resort for Scottish banks
Bank of England's Mark Carney refers to European Union's discretionary approach during euro crisis; suggests independent Scotland would need to increase foreign reserves
BoJ holds rates as tax hike looms
Bank of Japan policy board holds QQE steady and maintains economic assessments in its last meeting before consumption tax hike comes into effect
Bank of Zambia tries to talk down forex market ‘panic'
Bank of Zambia aims to arrest ‘panic' in foreign exchange market amid reversal of portfolio flows; hiked reserve ratio requirement on Monday in attempt to strengthen currency
ECB sets out second phase of asset quality review
The European Central Bank reveals the methodology of its asset quality review and provides guidance for national authorities tasked with executing the inspection