News
BoE’s Tucker urges careful consideration of negative interest rates
Paul Tucker encourages MPC discussion of alternative accommodative measures; expects existing QE to gain more traction as eurozone recovers
AfDB ‘information highway’ seeks to drive data sharing
African Development Bank-led initiative aims to 'revolutionise data management' across continent by the end of July
People: ADB chief named BoJ front-runner; Bulgarian governor ‘cannot' run for PM
Haruhiko Kuroda widely expected to succeed governor Shirakawa next month; Bulgarian governor ineligible to lead interim government
Chan blames QE as HKMA raises macro-prudential defences
HKMA tightens macro-prudential rules applied to mortgage lending in face of emerging property market risks; Norman Chan says quantitative easing has created ‘extremely unusual’ conditions
Fed’s Powell and Rosengren hit back at ‘fiscal crunch’ research paper
Research suggests Fed is constrained by precarious US finances, but Fed governor and president offer alternative conclusions
Bank Indonesia governor nominee proves divisive choice
Government chooses Agus Martowardojo to replace Darmin Nasution as governor, but MPs question Agus’ integrity and macro-economic knowledge
EBA stakeholder group chair to quit
Sony Kapoor quits role heading banking stakeholder group at European Banking Authority; new group to be selected in September this year
Eurozone recession to last through 2013, say new EC forecasts
EU researchers revise 2013 GDP growth forecasts down from +0.1% to -0.3%; inflation to fall to 1.5% this year, putting pressure on ECB for further easing
ECB reveals Italian dominance of emergency securities purchases
Data on purchases of individual countries’ bonds under the Securities Markets Programme released for first time; annual accounts show half of €1.1 billion bond profits came from Greece
Hungarian police confirm investigation of 'unknown person' linked with central bank allegations
Hungarian police launch malfeasance investigation into an individual believed to work at the National Bank of Hungary; governor András Simor is 'unlikely' to be the target
King and Zhou prepare ground for renminbi-sterling swap line
Governors discuss establishment of a currency swap arrangement between UK and China, with a final agreement expected to be signed ‘shortly’
Bank of Canada names new deputy governor
New deputy appointed as governor Carney and senior deputy governor Macklem unveil re-shuffle of responsibilities
NY Fed plans test run of small-firm open market operations
Fed prepares pilot programme to allow five smaller firms to act as counterparties in open market operations for a year, with the possibility of making the scheme permanent thereafter
Eastern Caribbean Central Bank sued over 'brazen act of thievery'
ECCB in the dock over management of failed bank; investors claim they should be compensated for loss arising from fraudulent ownership
Hungarian central bank may face police investigation
Reported police investigation follows State Audit Office allegations of unlawful behaviour at the central bank, including passing 'secrets' to the IMF
FOMC members 'undecided' over further asset purchases
Federal Open Market Committee displays more uncertainty over when to halt asset purchase programme; wary of buying more securities but scared of ending purchases too soon
UK statistics office explains QE impact on national debt
ONS attempts to clarify accounting practices used in transferring cash reserves from Bank of England’s quantitative easing programme to the Treasury
Australian banks propose ‘layered' high-speed payments system
Industry body presents ‘fast payments solution' based on core infrastructure and additional services; RBA describes proposals as ‘substantial initial progress'
Report slams IMF over Article IV ‘formalistic rituals’
Independent Evaluation Office finds IMF has been consistently failing in some areas, with the Fund paying little attention to the needs of individual countries
BoE minutes signal ‘shift in remit' to support economic growth
Minutes reveal governor Mervyn King sided with expanding QE, leading analysts to speculate that inflation is no longer a target
Eurozone ‘funding for lending scheme' gains favour
ABN Amro says a eurozone FLS would be ‘the most practical way of dealing with the credit constraints of SMEs'; Sony Kapoor says ECB would be ‘irresponsible' to ignore it
Zhou Xiaochuan to stay on as governor of PBoC, says Reuters
China’s top central banker and renminbi reformer Zhou Xiaochuan may not step down from his post as previously expected, according to a news agency report
People: NZ names new currency head, Fischer shuffles Israeli appointment committee
Reserve Bank of New Zealand hires retail banking expert as new head of currency; Bank of Israel and Richmond Fed name new members to key advisory groups
Draghi wants variable NAV for all European MMFs
European Systemic Risk Board – chaired by ECB president – demands changes to the way money market funds present asset value, but industry body slams recommendations