News
IMF supports Chile move to form financial markets commission
Body will help with better co-ordination and information sharing between the financial sector and central bank; fund says central bank should be ready to cut rates if disinflation appears
Eight banks struggle in Czech stress tests
Adverse scenario pushes many banks below regulatory capital minimums, though the system as a whole remains resilient, central bank says
Central banks ‘critical’ in the development of blockchain
Large South African commercial bank examines what a central bank digital currency would look like, coining the phrase “sovereign blockchain”
BIS: markets less beholden to central bank action
Political shocks appear to have jolted markets into a more healthy state, but it is not yet clear if this is the start of normalisation or a temporary phase
French governor sees outlines of possible Basel III deal
Internal models will still regulate some portfolios, governor predicts; output floors still a matter for “debate”
Bank of Japan to launch new website in time for 2017
New responsive design will include information from the old site displayed in new format; central bank has set second launch date in case of “delays”
Mixed views on Dodd-Frank rollback
No need to dump central clearing and electronic trading mandates, market participants say
UK inflation expectations leap in fourth quarter
Brexit shock appears to have driven increase in inflation expectations; satisfaction with Bank of England remains high, but looks likely to fall as inflation rises
IMF urges Sri Lanka to ‘modify’ international reserves target
Deputy managing director says international reserves remain below “comfortable levels”; central bank intends to continue building up reserves while allowing for “greater” exchange rate flexibility
Irish central bank has shortfall in staff
Board approves further staff increase for 2017, though it may prove challenging to fill all the vacancies
ECB will stay in asset markets - Draghi
Asset purchases will continue, but at a lower monthly rate; ECB to accept cash as collateral in securities lending programme
Civil rights activist to appear on new Canadian $10 banknote
Viola Desmond will appear on new C$10 note, to be printed in 2018; Bank of Canada to repeat "bankNOTEable” campaign when seeking candidates for new C$5 note
IMF to tackle effects of globalisation in 2017
Fund says it will focus on bringing the benefits of globalisation and technology to a wider section of society, amid a populist backlash against openness
Ink rubbing off notes ‘quite normal’, says Zimbabwe governor
Despite public outcry, governor says bond notes have so far been a success; launch of second tranche to bring total value of bond notes in circulation to $17 million
Denmark’s economy set for a boom, says Rohde
Latest release of reports show Danish economy is resilient and set to grow in the next two years; governor Rohde still concerned about house prices
Nabiullina warns of low growth in Russian economy
Bank of Russia governor advocates three-year budget rule and structural reforms to counteract economic weaknesses
BoE’s Salmon seeks to fix deadline for delayed Libor replacement
Chris Salmon sets three-month target to finalise transition plan and reach decision on design for risk-free rate
UK’s PSR announces shake-up in provision of payment services
UK’s payment system regulator to open door to competition in national payment infrastructure; regulator sees benefits to Mastercard’s planned takeover of Vocalink
Patel defends approach to banknote crisis, as RBI holds
Governor offers some clarity on progress with note withdrawals and question of “extinguishing” parts of balance sheet; rate hold surprises market
St Louis Fed president may support rate increase
Bullard cautions future real interest rates likely to stay flat; says Trump administration can only alter low interest rate environment by improving productivity
People: Senate approves new Mexican deputy; Lagarde appoints Jihad Azour
Former head of finance ministry’s debt office to take on senior role at Bank of Mexico; Azour joins IMF team, leaving Lebanon’s finance ministry; and more
Ukraine’s central bank calls for action against illegal forex dealers
NBU says authorities failed to act against 32 illegal operations in Kyiv; says it will publicise further information on unauthorised forex dealers
Changing policy impact may knock forecasts askew – Riksbank economists
Economists suggest systematic errors of forecasts in recent years may reflect changes in the effectiveness of monetary policy
Federal Reserve conducts in-depth study into distributed ledger technology
Central bank publishes first paper discussing the benefits of distributed ledger technology in the realm of payments, and clearing and settlement; use of DLT could address “financial frictions”