News
Norges Bank review calls on MPC to relinquish control of wealth fund
Annual report published today raises ‘serious concern' over monetary policy committee's capacity to oversee $830 billion wealth fund with most members having other full-time jobs
Fed transcripts reveal origins of modern forward guidance
Transcripts from the FOMC’s meetings in 2008 reveal the considerations that informed forward guidance at the time and continue to influence central banks’ communication policy today
Ukraine appoints revolutionary leader to head up central bank
Stepan Kubiv, deputy chairman of Ukraine parliament's banking and finance committee, will take over at the central bank having ‘administered' the protests that toppled the regime
Sweden mulls tighter rules on wholesale forex funding
Group comprising top-ranking decision-makers, including Riksbank governor Stefan Ingves and the minister of financial markets, highlights ‘big risk’ of foreign wholesale funding
Fed floats ‘advanced approach' for calculating risk weights
Biggest US banks will use new approach to calculate risk-based capital ratios from Q2 2014; changes to stress-test procedures pushed back a year to October 2015
G-20 pledge signposts en route to 'normal' monetary policy
Central bank governors and finance ministers in the world's biggest economies promise to be ‘mindful of impacts on the global economy' as they exit unconventional monetary policy
Singapore unveils faster payments service
The Association of Banks in Singapore says ‘almost immediate’ payments service for interbank transfers will launch in the middle of the year
Australia, Korea strike $5 billion swap deal
Glenn Stevens and Choong Soo Kim sign the countries’ first swap arrangement on the sidelines of the G-20 meeting as they look to promote bilateral trade
Fed publishes FOMC transcripts from 'crisis year' 2008
Transcripts of FOMC meetings from the year Lehman Brothers went bust reveal thinking behind exceptional monetary policy decisions
Iceland governor must re-apply for post as government mulls central bank shake-up
Ministry of finance says decision to review central bank's governing structure means it will advertise for applications for governorship; media speculate that political motives play a part
IMF praises ‘dramatic’ turnaround in Spanish bank sector
Final report on Spain’s financial sector reform programme says ‘steadfast’ implementation paid dividends, but warns of a number of alarming trends still prevalent in the financial sector
People: Bank of Spain bolsters supervisory staff; ECB advertises two more SSM posts
Bank of Spain fills two supervisory roles with internal promotions; ECB looks to hire two more deputy directors-general for SSM
Euribor rate-setting improvement ‘substantial’, say regulators
EBA-Esma report finds European benchmark setter has made ‘significant progress’ towards correcting previous governance failures, but six of 10 areas require further work
Central bank independence is 'oversold', says Cargill
Thomas Cargill, chair of the AEA's session on central bank independence, says rules-based approach first advocated by Milton Friedman is 'far more important' for price stability
Kazakhstan aims for hat-trick in banknote beauty parade
The International Bank Note Society judges newly issued banknotes on aesthetic and security grounds; Solomon Islands among those aiming to wrest crown from the Kazakhs
Sanusi exiled from Central Bank of Nigeria
Nigerian president Goodluck Jonathan suspends the central bank governor for financial recklessness; Sanusi says he will fight the suspension but accepts his days are numbered
People: Slovakia puts financial markets head on the board; director re-appointed to the UK's PRA
The National Bank of Slovakia's executive director for financial markets has joined the central bank board; Charles Randell re-appointed to the Bank of England's PRA; and more
RBI and IMF clash over pace of tightening
Staff report from the International Monetary Fund calls for ‘significant increases’ in policy rates, but the central bank is reluctant to cut off the economic recovery
G-20 governors should co-ordinate exit, says IMF
Fund recommends greater co-ordination of monetary policy as well as negative interest rates at the ECB and devaluations in emerging markets, in report to G-20
Central Bank of Chile cuts rate again as currency remains at five-year low
Bank lowers benchmark rate by 25 basis points to 4.25% and hints at further cuts in coming months, but analysts warn currency weakness and drop in copper exports should not be ignored
UK Supreme Court throws out $6.5m fraud case against Central Bank of Nigeria
The UK Supreme Court today accepted an appeal from the Nigerian central bank, which was accused of facilitating a $6.5m fraud in 1986
Rwanda will keep easy policy while inflationary pressures are ‘limited’
National Bank of Rwanda introduces forward guidance in its latest semi-annual monetary policy statement; outlines plans to improve monetary policy transmission mechanism
Omani central bank chief still committed to dollar peg
Central Bank of Oman's Hamood Sangour Al Zadjali tells Central Banking journal the peg still offers 'substantial benefits' given Oman's economic structure
Central banks cut gold purchases by a third, as consumers pick up slack
Global demand for gold fell 15% in 2013 compared with 2012, as central banks slowed their purchases and ETFs made hefty divestments