News
BoE appraises forward guidance as economy picks up
Bank of England MPC believes that market participants demonstrated an ‘increased understanding’ of the link between monetary policy and unemployment in the run up to its September meeting
Publishing minutes is vital for central bank comms, say markets
Market participant survey gives Fed highest score for policy and communication in the wake of the financial crisis; ECB scores worse in the absence of published minutes
Africa leads growth in financial inclusion, finds IMF study
Most comprehensive financial inclusion data set to date highlights rapid expansion of financial access in Africa; emphasises close links between growth and SMEs' access to finance
IMF backs counter-cyclical fiscal activism in times of crisis
Fiscal stimulus had powerful effects in the wake of the financial crisis, but monetary policy is better suited to keeping the economy on an even keel in normal times, says IMF
Central banks behind curve on innovation, says World Payments Report
Central banks are struggling to keep up with rapid growth of innovative new payment systems, report warns; risk to European firms that regulation will cause mobile payments to fall behind
Inaugural Central Banking Awards deadline extended
Central banks and market practitioners have one more week to submit their work for consideration in the Central Banking Awards 2013
IMF report highlights macro-prudential challenges
Kohn and Viñals talk of key role for central banks in macro-prudential framework; report singles out challenges faced by national authorities in setting up macro-prudential policy frameworks
Collapse in PMA index adds to bleak outlook for Palestinian economy
Palestine Monetary Authority records ‘enormous' drop in its business cycle indicator for the West Bank; follows IMF report warning of ‘dim' future for economy if peace negotiations fail
Indonesia parliament approves central bank deputy appointment
Indonesian House of Representatives picks current head of bank deposit guarantee scheme to fill the long-vacant position of senior deputy governor at Bank Indonesia
BIS statistics show surge in emerging market claims
Latest figures for cross-border claims show rapid increase in lending to emerging markets in first quarter of 2013, though Fed taper talk has since reversed the flow
Summers drops out of race for Fed chair
Larry Summers writes to Barack Obama to withdraw his name from consideration as the next chairman of the Federal Reserve, citing likely 'acrimonious' confirmation hearings
Central Bank of Russia simplifies interest rate policy
New measures will streamline the interest rates that the central bank targets; changes brought in two days after the appointment of a new deputy governor for monetary policy
RBI sets up committee to make monetary policy ‘transparent and predictable'
Reserve Bank of India announces make-up and mandate of committee commissioned by new governor Rajan to overhaul the way the central bank conducts monetary policy
Economists criticise ‘incomplete’ Bank of England guidance
Richard Barwell and Jagjit Chadha criticise the Bank of England for failing to lay out the path back to a more neutral monetary policy in its attempt at forward guidance
Regional Fed presidents stand their ground on MMFs
Presidents of the regional Federal Reserve banks push the Securities and Exchange Commission to impose more stringent reforms on money market funds including requiring a floating net asset value
European Parliament greenlights SSM
Lawmakers vote to put the ECB in charge of supervising Europe's biggest banks, as focus turns to arduous process of establishing single resolution mechanism
Finance ministers set to tackle bank resolution at Ecofin conference
Key policy-makers will gather in Lithuania Friday and Saturday to discuss European Commission's controversial proposal on resolution mechanism for failing banks
Carney defends Bank of England’s forward guidance
Bank of England governor defends use of state-contingent forward guidance despite bond market reaction; concern rises about mixed policy message
Digital payments key to financial inclusion, says Gates report
New report into financial inclusion says digital payments are the way forward – but financial service providers will need to charge fees in order to cover the cost of serving the poor
MAS targets household debt with new credit rules
The Monetary Authority of Singapore has unveiled an arsenal of new measures to cap individuals' borrowing in an attempt to rein in rising levels of household debt
Asia-Pacific central banks shed light on future policy
Bank Indonesia hikes rates; Reserve Bank of New Zealand says it will likely tighten policy in 2014; Bank of Korea looks to buck emerging market trend and keep rates low as inflation drops
ECB reaches agreement with European Parliament over SSM minutes
European Central Bank will be required to submit a 'comprehensive and meaningful record of proceedings' of supervisory board meetings to the European Parliament - but not minutes in their entirety
Bank of Russia names G-20 summit co-ordinator as first deputy governor
Ksenia Yudayeva takes over as one of four 'first deputies' from Alexei Ulyukayev, who was made an economics minister earlier this year
Regional Feds launch push for faster payments
The 12 Federal Reserve regional banks outline a broad 10-year plan for generating a faster, more efficient payment system; look to industry for specifics