News
RBNZ tweaks forecasting models and cuts key rate
Reserve Bank of New Zealand cuts rates by 25bp to 2.25% in attempt to prevent inflation expectations from falling further; updates models in wake of optimistic forecasts
European supervisors must improve consistency on capital requirements, Angeloni says
European regulators must take more consistent approach to capital requirements, Ignazio Angeloni says; authorities have to improve macro-prudential policy co-ordination
FPC members deny charges of 'groupthink'
Clara Furse and Richard Sharp argue debate is robust and give examples of where they have challenged the financial policy committee’s majority views; agree to consider issue further
Canadian public put forward women for spot on new banknote
Bank of Canada to launch new polymer banknote in 2018 featuring an “iconic” Canadian woman; Nellie McClung announced as first nomination
BoE’s Bailey dismisses ideas for radical banking overhaul
PRA chief stands by the current design of banking regulation, rejecting more radical options involving higher levels of equity as “just not practical”
Bank of Portugal director responsible for banking supervision resigns
Board member with responsibility for banking supervision resigned on March 7; Antonio Varela had previously been state-appointed non-executive director on troubled bank Banif
Brainard warns of segmentation of liquidity
Recent changes in liquidity practices may heighten financial markets’ vulnerability in stressed conditions, Brainard says; downward pressures on inflation remain, she adds
NY Fed says ‘no evidence’ systems breached
Spokeswoman says there is “no evidence” of attempts to penetrate Federal Reserve systems, amid reports saying Bangladesh Bank was concerned funds were stolen from its account
People: New York Fed research head retires, RBNZ appoints new head of currency
James McAndrews will leave the Federal Reserve Bank of New York after 19 years; Steve Gordon gets new portfolio at RBNZ; and more
Carney locks horns with MPs on EU stance
Bank of England maintains neutral stance on the issue, despite coming under fire from members of the committee; Carney and Cunliffe defend independence
BIS paper: short-term interest rate may no longer be enough to set policy
Globalised debt markets, the falling long-term interest rate and dollar debt accumulation has altered every major aspect of the monetary transmission mechanism in emerging markets, authors say
Bundesbank publishes data on German ‘closed-end’ investment funds
Deutsche Bundesbank begins publishing data on German ‘closed-end’ investment funds; sector had total assets of €82.4bn in January 2016, with nearly half of investments in property market
Angola appoints new governor as de Morais departs
Silva takes over from de Morais as part of a government reshuffle; has previously provided counsel to country’s vice-president
Institutions agree to mission to check on Greek reforms
Representatives of European and international institutions have agreed to send a team to Athens to check on reform progress; visit is necessary to allow bail-out to continue
Ukraine eases domestic currency and forex restrictions
Ukraine’s central bank loosens restrictions on foreign and domestic currency deposit withdrawals; Gontareva says Ukraine is on track to hit inflation targets but warns of political risks
Central banks running out of room amid turbulence, BIS warns
Confidence in central banks is “faltering” as policies prove impotent, while negative rates erode bank profitability and debt levels weigh on global growth
Renminbi to be identified in IMF Cofer database
IMF countries able to record renminbi holdings from October; inclusion in database recognises "continuing internationalisation" of currency, staff say
IMF welcomes Indian inflation progress, but RBI should ‘stand ready’
IMF welcomes progress made with inflation targeting in India; calls for “growth-friendly” fiscal consolidation to support monetary policy
People: Georgian central bank nears new governor, RBI appoints executive director
Georgian parliament approves president’s nominee for governorship, now central bank board must do the same; Kanungo becomes newest executive director of the RBI; and more
Zeti plays down Chinese problems at 2016 Central Banking Awards
Lifetime achievement recipient discusses monetary policy ‘over-reliance' and gender in fireside chat with editor-in-chief Christopher Jeffery
Poland nominates Belka as EBRD president
Poland’s government proposes central bank governor Marek Belka as president of the EBRD and appoints his nominee to the central bank’s board
‘Substantial drawbacks’ remain in European supervisory colleges’ work, EBA says
European supervisory colleges still have ‘substantial’ drawbacks in key aspects of their work, despite making improvements in 2015, the European Banking Authority says
Turkey’s Kenç sheds light on central bank ‘roadmap’
Deputy governor tells Central Banking conference that a 'roadmap' of policy changes helps improve confidence in the economy; says the central bank has gained market trust despite independence fears
Moldovan parliament nominates central bank governor
Moldovan parliamentary committee names a former senior manager with BNP Paribas to replace the embattled central bank head