News
RBA proposes Australian Payments Council to strengthen industry coordination
Reserve Bank of Australia and industry body Australian Payments Clearing Association launch consultation on establishment of new payments council
Central Bank of West African States facing broken transmission mechanisms
Members of the IMF’s African department find the central bank’s ability to influence liquidity conditions in the WAEMU is restricted by the union’s ‘shallow’ financial system
Woodford forward guidance an ‘academic curio', says BoE's Bean
Deputy governor says Bank of England cannot commit to low interest rates for as long as Woodford and Eggertsson would advocate; concedes financial stability knockout in guidance may be ‘material'
Bank of Russia slashes forex intervention target
Halved intervention target brings rouble closer to free-float; IMF tells central bank to maintain reform momentum and resist calls to loosen policy
Bundesbank warns over surge in German property prices
House prices in the country's biggest cities are up more than a quarter since 2010, as investors search for yield amid record low interest rates; lack of supply also plays a role, says new study
Cypriot board member breaks ranks to criticise Demetriades
Alexandros Michaelides accuses central bank governor of a lack of professionalism for cancelling board meeting ahead of troika visit; demands greater respect
Singapore becomes third RQFII renminbi hub
Deal struck between Singaporean and Chinese authorities follows hot on the heels of an agreement with London, making Singapore the third approved centre for renminbi investments
UK’s Chaps continues growth despite losses to Faster Payments
High-value payments system handled an increasing value of transactions in 2012 despite widespread migration to Faster Payments, according to first ever Chaps report
Fed heavyweights warn new bank resolution laws won't end ‘too big to fail'
Dudley, Lacker and Tarullo say 'single point of entry' framework under 'Title II' provision is important but inadequate; FOMC members call for long-term debt requirement for Sifis
RBI launches ‘advanced’ new RTGS system
New platform expected to ‘significantly’ boost efficiency, and thought to be first ISO 20022-compliant RTGS system; Rajan says it keeps central bank a step ahead of financial markets
Bank of Israel saga comes full circle with Flug nomination
Prime minister relents and nominates Stanley Fischer’s deputy as the next central bank governor; Karnit Flug’s first act is to appoint research head Nathan Sussman to the monetary committee
Bailey sets resolution criteria for foreign banks' UK branches
Bank of England’s Andrew Bailey says foreign banks will not be able to operate branches in the UK if their home regulator’s resolution regime is not up to scratch
De La Rue launches post-grad scholarship with Central Bank of Barbados
One year's funding worth $17,300 on offer for a Barbadian student pursuing post-graduate studies in economics or finance mimics similar programmes elsewhere in the Caribbean
Central Bank of Chile cuts interest rates for first time in 18 months
Central bank cuts rate 25bp to 4.75%, amid slowing demand growth and below-target inflation; analyst says inflows, not outflows, biggest concern despite current account deficit
Fed's Fisher slams ‘fiscal misfeasance’ of US government
Dallas Fed president urges American politicians to show some leadership and put the US on a more sustainable fiscal path; Cleveland Fed researchers say shutdown will damage inflation estimates
Madagascan deputy steps up to top job
Vonimanitra Razafimbelo appointed acting governor, just over a month after her predecessor Guy Ratovondrahona died; appointment comes a week ahead of presidential elections
Barnier says UK ‘on board' with EU banking legislation
French EU commissioner once dubbed ‘the most dangerous man in Europe' by the UK press says winning British agreement over banking sector reform is a ‘point of credibility'
ECB seeks head of new human resources office
Recruitment and operations section will be responsible for recruitment and ECB employees' contracts, salaries, and benefits; overhaul comes as ECB gears up for SSM implementation
BIS publishes data disclosure standards for CCPs
CPSS and Iosco set requirements for which quantitative data central counterparties should release and when; aims to increase transparency around the risks associated with them
BoE breaks ground with live Twitter Q&A
Bank of England chief economist Spencer Dale will answer questions on monetary policy and forward guidance through the central bank’s Twitter account tomorrow morning
Fiscal profligacy biggest threat to central bank independence, says Dudley
Netherlands Bank president Knot is concerned by the possibility of negative capital in central banks, but New York Fed's Dudley says the sustainability of national budgets is a bigger problem
China relaxes liquidity rules to fall in with Basel timeline
New approach to liquidity risk intended to reduce the regulation's pro-cyclicality; new rules come into effect on January 1, 2014
Cyprus finance minister says governor Demetriades is 'under scrutiny'
Harris Georgiades says expanded central bank board will improve governance; argues banks will succeed in raising equity as capital controls are lifted
RBA mulls further rate cuts as dollar keeps rising
Minutes of the latest monetary policy meeting show concerns remain over strong Australian dollar; new record low interest rate remains possible