News
New York's Dudley advocates BoE approach to QE exit
New York Fed's William Dudley wants to get off zero lower bound before ending reinvestments in QE assets, the approach favoured by the Bank of England's Mark Carney
Nigerian court ruling deepens concerns over central bank independence
Former governor Sanusi Lamido Sanusi's appeal against presidential decision to suspend him is dismissed by judge; investors ‘nervous' about bank's autonomy
EC tackling final questions on CCP resolution
The European Commission is drawing up proposals on the recovery and resolution of CCPs, but a number of tricky questions still have to be answered
EU sovereign debt managers fall in line with two-day settlement rule
EU member states' treasuries will settle over-the-counter sovereign bond transactions in a maximum of two days from October this year
Croatian National Bank knows best on FX policy, IMF finds
Croatia's central bank stuck up for its exchange rate policy in Article IV discussions with the IMF, which conceded the bank knew best on a range of issues
Central Bank of Kuwait puts own building on new banknote
Banknote series unveiled yesterday will come into circulation on June 29; new features include raised print to help blind people tell which note they are holding
SNB's Jordan says Fed fines raise ‘fundamental' questions for Swiss banking
Credit Suisse pleads guilty to helping US clients evade taxes by setting up offshore accounts; SNB chairman cites ‘major reputational damage' to industry
Governors launch East African Payments System
East African Community presents new market infrastructure and plans to boost currency convertibility; Kenyan governor sets out monetary policy priorities for the region
Serbia lifts donation fees in ‘solidarity' with flood victims
National Bank of Serbia set to publish list of banks showing ‘solidarity' by not charging to process donations directed at helping those affected by severe flooding
UK banks to fund ‘independent' body tasked with improving industry culture
Recommendations on conduct from former Bank of England MPC member ‘accepted' by seven major banks; new body to be launched later this year
European central banks strike new gold agreement
Central banks in the eurozone, Sweden and Switzerland agree to coordinate their gold transactions, but scrap the 400-tonne limit on annual sales
Bank of Tanzania praised for ‘skilfully’ lowering inflation
The IMF praises Tanzania authorities for generating ‘rapid’ growth while clamping down on inflation and encouraging development of sovereign wealth fund
Vatican central bank set up to fight financial irregularities
The ‘outlier' bank's most important task will be to manage foreign reserves, but will need radical changes if it is to clean up the Vatican's finances as the Pope wants
QE for infrastructure investment could be ECB's alternative to ‘pushing on a string'
As the ECB continues to struggle to boost lending in the eurozone periphery, a leading Greek academic is proposing it channels QE through the European Investment Bank
Lithuania may squeeze past eurozone’s asymmetric convergence criteria
The asymmetric nature of the EU’s convergence criteria means that Lithuania, with 0.6% average annual inflation, may only scrape into the eurozone next year
Central Bank of Hungary adopts new constitution
The ‘internal constitution' reinforces central bank's ‘extremely broad range of competencies' and stresses cooperation with government to promote growth
Senior Estonian central bankers to sit on fiscal watchdog
Bank of Estonia deputy governor and chief economist will sit on an independent body tasked with assessing the government’s fiscal policy
Bush adviser appointed to Bank of England MPC
Kristin Forbes second woman to be appointed to the all-male committee of nine in two months; former member cautions over lack of labour economics experience on MPC
Canadian dollar holdings could be twice Cofer estimates – Bank of Canada
Study suggests IMF may have underestimated Canadian dollar's rise as reserve currency; growing global demand for government bonds has liquidity implications at home
Bowles turns down ECB invite to join Supervisory Board
Sharon Bowles, who is stepping down from the European Parliament this month, fears the ECB is eyeing an expansion of its influence through macro-prudential policy
Fijian deputy out, governor could be next
The deputy governor at Fiji’s central bank announces his retirement, while the president hesitates over whether to hand the governor a second term
Carney says UK's 3% growth is not ‘escape velocity'
Bank of England governor suggests rates likely to remain at current levels for another year or until recovery is underpinned by productivity pick-up and real wage growth
Central banks must grasp opportunity to shrink balance sheets safely
Central bank purchases of government bonds have turned traditional dogma on its head - but dangers lurk in the unwinding, warns Philip Turner
Central American central bank losses smallest in 25 years
However, capital positions remain weak and would even be negative if claims on governments were valued according to cashflow, IMF study finds