News
Bank of Russia vows to carry out ‘unlimited' interventions to defend ruble
Central bank returns to market less than a month after allowing currency to float; cuts interest rates on forex repos
Argentina governor wants new growth model for LatAm
Central Bank of Argentina governor believes Latin American countries need to invest in infrastructure and boost internal production
Sweden's central bank and macro-prudential regulator clash over leverage ratio
Riksbank calls for stricter and earlier implementation of Basel III measure a day after Financial Supervisory Authority rejects proposals
Iceland introduces foreign currency funding rule based on Basel Committee's NSFR
Measure is intended to limit extent to which banks fund long-term lending in foreign currencies with unstable short-term funding; Three-year NSFR could be introduced in 2015
Qatari royal takes over oil fund
Previous CEO lasted little over a year before he was replaced by a member of the Qatari ruling family; sovereign wealth fund comes bottom in global governance and transparency rankings
Brainard says Federal Reserve monetary policy can ‘lean against the wind’
FOMC member says limited range of macro-prudential tools means Fed is more likely than some other central banks to use monetary policy for financial stability purposes – but there are risks
Brazil hikes rate but will deploy further measures ‘sparingly’
Central Bank of Brazil increases key interest rate by 50bp to 11.75% and says it will use additional measures ‘sparingly’; economists expect tightening to stop early 2015
Draghi plans showdown ‘early next year’
Governing council will reassess monetary stimulus in 2015; Draghi says he does not need unanimity to launch quantitative easing
Bank of Canada's Poloz defends language on household imbalances
Governor explains Bank of Canada has not changed its assessment of household imbalances, after describing them as a 'significant risk' to financial stability in policy announcement
BoE extends Funding for Lending Scheme
Scheme will continue for an additional year in a bid to boost credit provision to small businesses; Mark Carney admits lending to smaller firms is still problematic
EBA moving to iconic Canary Wharf tower
European Banking Authority will soon vacate its current offices in the City of London and take up residence in Canary Wharf
Gobind Ganga appointed governor of Bank of Guyana
Ganga handed the role on a permanent basis after serving as acting governor following the death of his predecessor in May; president also appoints new deputy
EU insurance stress tests reveal industry vulnerability to ‘Japanification’
Firms are vulnerable to a prolonged low interest rate environment and asset shocks, stress tests run between April and July show
Cleveland Fed researchers examine Taylor rules followed by professional forecasters
Research examines the relationship between private forecasters’ projections for inflation, unemployment and the federal funds rate; finds ‘tremendous’ differences
Swift wins Australian real-time payments contract
Contract represents new direction for the financial messaging service, with the final platform expected to go live in 2017
Rajan sees policy stripped back to signalling function
RBI governor says weak rate transmission has left signalling as the primary channel for monetary policy; rate cut may come ‘outside the policy review cycle’ in early 2015
Charitable governor vows to deliver next interest rate decision in Christmas sweater
Mar Guðmundsson's promise part of national anti-bullying campaign; calls on central bankers to be ‘more open' to charitable causes and have ‘some fun with it'
National Bank of Angola works on deposit guarantee fund
National Bank of Angola has built a framework for a deposit guarantee fund in the country, which the governor says will cover ‘around 90% of depositors’
Ruble's plunge sparks speculation of central bank's return to markets
Biggest daily drop since 1998 presages next week's rate hike, say analysts; ruble surpasses Argentine peso as worst performing emerging market currency of 2014
South African Reserve Bank reflects on forecasts
Latest monetary policy review analyses the central bank's inflation forecasts between 2003 and 2014, finding they 'marginally' outperform outside efforts
Central Bank of Paraguay calls for new regulatory powers
Central Bank of Paraguay made a draft proposal to change the law, giving the institution powers to ‘change the prudential regulations according to market needs’
BoJ launches ‘plain language’ economics journal
‘Research Lab’ journal aims to convey Bank of Japan’s research in a ‘concise and plain’ fashion, with the publication tailored for mobile phone and tablet users
Spain looks to create $7.5 billion resolution fund
Spanish government publishes draft bill that will transpose the BRRD into national law and establish a national resolution fund, in preparation for the SRM
PBoC closes in on liberalisation with deposit insurance plan
Central bank moves closer to deposit rate liberalisation with proposals for deposit insurance fund, aiming to improve ‘discipline’ in banking sector and encourage smaller banks to compete