News
Distributed ledgers could impact FMIs, report finds
Committee on Payments and Market Infrastructures report on digital currencies sees potential for technology to have a ‘much broader application beyond payments’
Canada looks for new deputy as Côté prepares to stand down
Bank of Canada begins search for deputy governor, stressing importance of experience using macroeconomic models and communicating views
High expectations could be holding Japanese inflation down, Shirai warns
Study of US and Japanese households reveals, somewhat counterintuitively, that high inflation expectations may be a factor behind lower actual inflation
Economists outline improved DSGE forecasting method
Bank of England working paper attempts to improve forecast performance by using a multi-step approach to estimating parameters, delivering what the authors say are ‘significant’ improvements
Egyptian presidency picks deputy governors and board members at central bank
President el-Sisi appoints a new deputy governor and three new members to Egypt’s central bank board, while one incumbent deputy receives a second term
HKMA promotes 'entirely paperless' e-cheques in PR push
Central bank to raise awareness through multimedia infomercials ahead of December 7 launch; e-cheques will lead Hong Kong into new era of electronic payments, says HKMA deputy
Sweden faces ‘economic crisis’ unless government calms housing market, governor warns
Sweden’s government needs to take urgent action to calm rapidly rising house prices or face a possible economic crisis, Stefan Ingves warns; attacks lack of clarity over macro-prudential policy
Central Bank of Kenya to reassess supervision following bank collapses
Central bank begins review of banking supervision following collapse of two domestic banks; new bank licensing on hold until further notice
‘We will do what we must’ to hit target, says Draghi
ECB governor hints at further easing at next month’s monetary policy meeting
Al-Wazir reflects on eight tough years at the PMA
After two terms leading the Palestine Monetary Authority, Jihad Al-Wazir tells Daniel Hinge about his efforts to manage operations in a warzone and improve the central bank against the odds
Bank Indonesia asks citizens to 'show rupiah some love'
Central bank arranges festival to 'nurture feelings of affection' for currency and encourage Indonesians to start using e-money instead of cash
Trinidad and Tobago aims to stay a step ahead of the Fed
Jwala Rambarran tells Central Banking the central bank must remain ‘ahead of the curve’ and ensure a ‘strong enough’ rate differential between assets denominated in local and US currency
UK regulators to reopen flawed HBOS investigation
Report critical of financial supervisors who failed to see problems developing or take proper enforcement action, and of bank managers who created a fatally flawed business model
Mass walkout at RBI disrupts clearing and settlement
The majority of the RBI’s 17,000 staff took ‘mass casual leave’ today, interrupting some RBI operations, though normalcy was ‘largely’ restored after negotiations
Sarb raises rate 25bp now to avoid bigger move later
Increasing risk of inflation spurs the South African Reserve Bank to raise its key rate by 25 basis points to 6.25%; two out of six MPC members preferred not to move
Presentation of big data key to inspiring research, academic argues
New York University professor says financial regulators need to learn from large-scale scientific projects and online retailers to encourage ‘research communities’
Central bank 'silo culture' detracts from statistics, says ex-BoJ governor
Masaaki Shirakawa tells audience at Deutsche Bundesbank to expose economists to statistics and business contacts during their careers; Otmar Issing stresses value of good data
Banks face higher capital requirement under Basel trading book review
Basel Committee impact study on the fundamental review of the trading book implies minimum capital allocated to market risk will rise substantially for some banks
Mexico should ‘phase out’ daily FX sales, IMF staff say
Staff at IMF find interventions have ‘contributed to stability’ in the foreign exchange market, while a report following Article IV consultations recommends moving away from daily auctions
CLS starts settling Hungarian forint payments
After two years of preparation and testing, the forint joins the CLS universe
Bank of Israel approves first issue of loss-absorbing bonds
Bank Mizrahi-Tefahot allowed to issue contingent convertible bonds that will count as part of regulatory capital, with other banks expected to follow suit
Honohan sets out virtues of new crisis tools in final speech
Irish governor stresses potential of direct recapitalisation and GDP-linked loans to help bolster debt sustainability in crisis-hit countries; expects successor Lane to come in with ‘big broom’
Banks should improve tech infrastructure to aid stress testing, PRA officials say
Mark Yallop highlights demands on banks when assembling data, noting the 'generally poor state' of some technology infrastructures; Andrew Bailey says improvements would benefit all
Changing funding patterns cut both ways for emerging markets, central bankers say
Emerging markets are moving towards greater use of capital market funding, but while this could bring benefits for monetary policy, it also throws up a host of stability risks