News
BoE's unanimous vote to keep QE unchanged raises eyebrows
The MPC said an investigation of additional policy options would make it unwise to expand QE at the moment; At the same time IMF calls for more stimulus
BoJ policy board divided over bond markets
Minutes from the Bank of Japan’s June meeting reveal members debated whether to introduce additional measures to stabilise long-term interest rates
IMF says China needs new tools to get a grip on credit growth
Staff report on China highlights need for a new growth model centred on private consumption; calls for the PBoC to adopt interest rates as its key policy instrument
Card fraudsters abandoning ‘safer' Europe for more vulnerable markets, says ECB
Payment fraud is declining steadily in Europe thanks to technology advances; numbers are 'small compared to other kinds of fraudulent activities', expert says
Palestine to get new retail payments system
Palestine Monetary Authority announces deal for new electronic payments system; ATM machines and points of sale will become accessible to all debit cards without additional charges
ECB compares central bank collateral frameworks
Study by ECB contact group says differences in central bank, regulator and CCP collateral frameworks enhance resilience of financial market infrastructures
BoE's Fisher outlines likely QE exit route
BoE's head of markets tells parliamentary committee the MPC would hike interest rates as a signal that asset sales were on the way, but said its next move is more likely to be further easing
Reserve Bank of India announces measures to bolster weakening rupee
In tightening move, RBI raises its Marginal Standing Facility rate to 10.25% with 'immediate effect'; currency value rebound is expected to be short-lived
Korean MPC member says economy ‘relatively safe’ from impact of Fed taper
Woosik Moon says emerging economies will see long-term interest rates rise as global liquidity contracts, but the strength of Korea’s economy should insulate it against the turbulence
RBA minutes show board happy to let dollar keep falling
Reserve Bank of Australia monetary policy meeting minutes show the board feels a weaker Australian dollar could rebalance the economy; inflation outlook will allow for more easing
Turkish central bank weighs rate hike to stem lira slump
Governor Erdem Başçı says the MPC will consider widening the interest rate corridor in its meeting next week; forex auctions failed to reverse falling value of assets and currency
Thailand and Hong Kong launch cross-border settlement scheme
Bank of Thailand and Hong Kong Monetary Authority look to eliminate cross-border settlement risk through establishment of Asia's third PvP link between different currencies
Bank of Lithuania refashions calculation for interbank lending rate
The central bank is replacing interest rates with credit ratings as basis for bank quotes
Fed’s Tarullo hints at global interest in 6% leverage ratio
Daniel Tarullo says the US leverage ratio must be increased to ensure it effectively supports risk-based capital measures; proposal has generated interest from regulators abroad
Central Bank of Hungary moves to shut IMF's Budapest office
Central bank governor György Matolcsy says Hungary has almost completed its stand-by arrangement, so the IMF's work there is done; Hungary's relationship with the fund has been turbulent
China unveils raft of reforms to liberalise the renminbi
Series of reforms will facilitate cross-border renminbi settlement; RQFII programme has also been extended to Singapore and London
Brazil street protests show crucial role of central bank, says ex-governor Franco
Some politicians have ignored fears about rising inflation in Brazil but street protests demonstrate the vital importance of the Central Bank of Brazil in fulfilling its mandate, says Gustavo Franco
Russian central bank introduces new instrument for cheaper funding
New Bank of Russia governor brings in policy to auction 12-month loans to banks with a starting price 150bp under the standard 12-month repo rate
Bank of England launches mobile app for ‘virtual tourists'
New Bank of England app gives a virtual tour inside the Old Lady of Threadneedle Street
Polish banks set up joint standard for mobile payments
Participants expect the joint venture to provide a boost to non-cash trading and, by extension, business effectiveness
ECB's Cœuré welcomes commission proposal on Single Resolution Mechanism
Speaking in Paris, Cœuré says ‘strong central authority' needed as fundamental complement to the SSM
People: Fed governor resigns; Bank of England HR chief finds herself new role
Elizabeth ‘Betsy' Duke to quit the Fed, 19 months after her term officially expired; BoE's executive director for human resources to take new job in the private sector
Fed minutes reveal split over tapering as ‘dovish' Bernanke calms markets
Records released on Wednesday show ‘several' FOMC members want to end asset purchases before year's end; In Q&A, Bernanke maintains ‘overall thrust of policy is highly accommodative'
Bank of Japan holds policy as economy ‘starts to recover'
BoJ confident inflation will start to rise, as starts to see signs of recovery in the economy; keeps quantitative and qualitative easing programme in place