News
Bundesbank's Nagel calls for better data on European money markets
Joachim Nagel and Carsten Hartkopf from the Bundesbank's markets department advocate money market survey to better understand monetary policy transmission and give early warning signals
Bank of Thailand prepares to counter rising baht
Monetary Policy Committee agrees ‘framework for exchange rate management’, but does not yield to government demands for a rate cut
Fed opens door to further asset purchases
The Federal Reserve resists recent talk of an exit from quantitative easing by emphasising that it could yet increase asset purchases; accuses fiscal policy of ‘restraining economic growth’
Osborne emphasises ‘support for growth' remit for BoE financial policy committee
Letter from chancellor to governor calls on FPC to give 'due weight' to its role in supporting economic recovery; call for consistent communications leads to speculation over divergent views on MPC
FDIC’s Hoenig blasts Basel III risk weights as insufficient
Thomas Hoenig argues that Basel III can be ‘gamed' and that the capital ratios may over-represent the actual state of banks’ balance sheets
Bank of Japan raises ‘major concerns' over US foreign bank rules
Letter to Fed governor challenges proposed regulation of foreign banks on the basis of inconsistency with international standards and restrictive liquidity rules; Germans also weigh in
Bank of Botswana delivers first rate cut since 2010
Botswana’s central bank cuts interest rate by 50bp to 9% to stimulate growth and employment despite continuing rise in inflation
Carney launches ‘safer, cheaper, greener’ banknotes
New Canadian $5 and $10 polymer banknotes aim to cut counterfeiting, lower costs and reduce environmental impact; notes unveiled 350km above the earth by International Space Station commander
Weak eurozone data add weight to ECB rate cut talk
Expectations of a rate cut mount as unemployment and inflation figures disappoint, although many question whether lower interest rates would have a significant impact
Gieve calls for BoE leading role in European diplomacy
Former deputy governor of the Bank of England says London is not in mortal danger from European regulation, but the UK central bank should play more of a leading role in negotiations with the ECB
BIS paper urges central banks to build their own financial buffers
Paper provides framework for central banks to assess the financial resources they should hold to protect themselves against losses; Jaime Caruana stresses importance of financial independence
Basel intra-day liquidity standards a ‘box-ticking exercise'
Industry panel questions limited detail in Basel Committee document; says numerous problems remain in fleshing out details, levelling playing fields and managing vast volumes of data
MAS fears supply-side hindrance to growth and inflation
Singapore’s macroeconomic review laments ‘tepid and volatile’ growth; central bank expects moderate economic recovery and steady inflation in 2013
Czech central bank opposed to joining banking union
Vice-governor says Czech National Bank will recommend staying out of SSM; ECB's Asmussen calls on non-eurozone countries to decide by July
New Bank of Zambia powers help tackle tax avoidance
Amendment to Bank of Zambia Act bolsters central bank's ability to monitor flows of capital in and out of the country; economists suggest money could be ‘leaking out'
IMF issues warning to Asian central banks on risk of overheating
Regional Economic Outlook says some Asian central banks may need to tighten policy to avoid stability risks; examines complicated effects of Japanese monetary easing
People: Bank of Italy's Saccomanni becomes Italian finance minister; Kuroda replaced at ADB
Director-general at Italian central bank gets top government role; Takehiko Nakao moves from Japanese finance ministry to head Asian Development Bank
Sri Lankan governor defends economy against stories of ‘economic doom and mismanagement’
Ajith Cabraal says local and foreign stakeholders are being misled over the true state of the Sri Lankan economy; central bank may cut rates if inflation continues to fall
Central bankers back equity investment for reserves
Almost two-thirds of respondents to CentralBanking.com poll believe central banks should invest some of their reserves in equities; most say investment should be kept below 10% of portfolio
CCP ‘armageddon’ could lead to sovereign default, warns HSBC executive
Single bank default could affect multiple CCPs, leading to crippling default contribution for existing members and a chain of bank failures
SNB's Jordan slams gold referendum
Thomas Jordan says limiting Swiss National Bank's control over gold reserves would be ‘detrimental to Switzerland'; reveals location of holdings in face of public pressure
People: New governor for Central Bank of Venezuela; Bank of Lithuania gets new board member
Venezuelan president Nicolas Maduro has nominated Edmée Betancourt to take over at the top of the central bank; Norges Bank economist to return home for Bank of Lithuania board seat; and more
BoJ board more optimistic on inflation forecast
Updated forecasts by board members show expectations creeping closer to 2% target; lack of further monetary easing disappoints markets
Hong Kong consolidates dominance as offshore RMB hub
HKMA annual report shows continued rapid rise in renminbi trade flowing through Hong Kong; new Hibor fixing seen as latest manoeuvre to stay ahead of competition