News
Emerging market volatility not a sign of crisis, says Malaysian supervisor
Emerging markets are much better prepared to deal with foreign investment outflows than in the past, says Securities Commission Malaysia chairman
IMF's Lagarde backs Fed over asset purchases
The IMF’s managing director believes the Fed should take a 'gradual' approach to reversing its asset purchases and rate cuts; stresses the importance of unemployment figures
Euro crisis will leave Greece stronger, says Herbert Grubel
Membership of a currency union initially failed to force Greece to reform its economy but the country is now set to emerge from the crisis unshackled from former vested interests; the case of Greece may offer lessons for other democracies
RBNZ closing loan valuation loopholes
Reserve Bank of New Zealand proposes stricter rules on how banks value housing loans and residential properties to prevent them undermining new macro-prudential policy
SNB reiterates commitment to franc price ceiling and zero interest rate
Swiss National Bank is ready to buy unlimited quantities of foreign exchange and take other measures if required to hold the franc down; inflation should turn positive next year, it says
Scandinavians open macro-pru toolbox to cool overheated housing markets
Rising property prices, increasing household debt and towering banking sectors are pushing Norway, Sweden, and Denmark to consider unconventional measures to pre-empt a crash
Bernanke defends Fed communication after QE surprise
Ben Bernanke says FOMC communication in June was justified as Fed shocks markets by ploughing on with asset purchases; economists question why markets were focused on September meeting
Carney new vice-chair of ESRB as King joins Fischer at CFR
Mark Carney takes over from Mervyn King as deputy to European Systemic Risk Board chairman Mario Draghi; King joins US think-tank Council on Foreign Relations as a distinguished fellow
Panellists hit out at Fed’s forward guidance in CBP debate
Federal Reserve gets mixed scorecard for its extraordinary monetary policy and communication performance, according to panellists in Central Banking On Air debate
ECB seeks women to fill four senior economics vacancies
Re-organisation in the ECB's directorate general for economics creates four vacancies for head of division; new targets means bank will want to hire women to the male-dominated department
IMF greenlights new wave of funds for ‘resolute' Cyprus
New IMF report says most conditions have been met with a ‘comfortable margin' but warns that the banking crisis' impact on households and corporates could be larger than anticipated
ECB to relax CCBM collateral deposit rules from May 2014
Benoît Cœuré says the rule change will pave the way for support of cross-border, tri-party collateral management services from September next year; warns Sepa deadline looks tight for many
BoE appraises forward guidance as economy picks up
Bank of England MPC believes that market participants demonstrated an ‘increased understanding’ of the link between monetary policy and unemployment in the run up to its September meeting
Publishing minutes is vital for central bank comms, say markets
Market participant survey gives Fed highest score for policy and communication in the wake of the financial crisis; ECB scores worse in the absence of published minutes
Africa leads growth in financial inclusion, finds IMF study
Most comprehensive financial inclusion data set to date highlights rapid expansion of financial access in Africa; emphasises close links between growth and SMEs' access to finance
IMF backs counter-cyclical fiscal activism in times of crisis
Fiscal stimulus had powerful effects in the wake of the financial crisis, but monetary policy is better suited to keeping the economy on an even keel in normal times, says IMF
Central banks behind curve on innovation, says World Payments Report
Central banks are struggling to keep up with rapid growth of innovative new payment systems, report warns; risk to European firms that regulation will cause mobile payments to fall behind
Inaugural Central Banking Awards deadline extended
Central banks and market practitioners have one more week to submit their work for consideration in the Central Banking Awards 2013
IMF report highlights macro-prudential challenges
Kohn and Viñals talk of key role for central banks in macro-prudential framework; report singles out challenges faced by national authorities in setting up macro-prudential policy frameworks
Collapse in PMA index adds to bleak outlook for Palestinian economy
Palestine Monetary Authority records ‘enormous' drop in its business cycle indicator for the West Bank; follows IMF report warning of ‘dim' future for economy if peace negotiations fail
Indonesia parliament approves central bank deputy appointment
Indonesian House of Representatives picks current head of bank deposit guarantee scheme to fill the long-vacant position of senior deputy governor at Bank Indonesia
BIS statistics show surge in emerging market claims
Latest figures for cross-border claims show rapid increase in lending to emerging markets in first quarter of 2013, though Fed taper talk has since reversed the flow
Summers drops out of race for Fed chair
Larry Summers writes to Barack Obama to withdraw his name from consideration as the next chairman of the Federal Reserve, citing likely 'acrimonious' confirmation hearings
Central Bank of Russia simplifies interest rate policy
New measures will streamline the interest rates that the central bank targets; changes brought in two days after the appointment of a new deputy governor for monetary policy