News
NBS management weakens as fourth council member quits
Kosta Josifidis resigns from the National Bank of Serbia’s Council of the Governor leaving just one member remaining; doubts continue over central bank’s future as politicisation fears mount
CLS hires JP Morgan veteran as chief executive
David Puth, the former chair of the New York Fed's FX Committee, will become the next chief executive of CLS next week
Ireland releases coins in memory of former finance minister
Central Bank of Ireland issues two coins commemorating 90th anniversary of Michael Collins’ death; chief operations officer speaks of 'overwhelming' interest in the collector items
BoE minutes show MPC left out rate cut discussion
Possibility of cutting benchmark interest rate was not discussed at latest MPC meeting; policy-makers decided to keep rate and quantitative easing steady
Bank of Thailand statistics show ‘resilient’ banking system
Figures for second-quarter 2012 indicate strong growth of lending and profits in Thai banking sector; results boosted by continued decline in non-performing loans
Central Bank of Ecuador receives loan to promote financial inclusion
Inter-American Development Bank lends Ecuador $10 million to further access to financial services in remote parts of the country; central bank to administer the project
Asian Development Bank opens office in Myanmar
Asian Development Bank furthers "re-engagement" with Myanmar by opening an office; alternate executive director from the country also joins ADB board of directors
UK inflation figures show surprise rise in July
Office for National Statistics surprises markets by announcing CPI inflation rose to 2.6% in July; Bank of England last week predicted the rate would continue to fall this year
RBA payments manager discusses challenge of Basel III deadline
Reserve Bank of Australia’s Mark Chambers says countries are struggling to implement Basel III framework in time; highlights obstacles facing Australian policy-makers in introducing regulations
Central Bank of Barbados governor praises government’s fiscal strategy
DeLisle Worrell says Barbadian government’s policy strategy is appropriate to the ‘economic reality’; follows downgrade of sovereign debt to BB+ in July
Estonian growth recovery 'relies' on eurozone governments' action
Estimates for Estonian growth rely on eurozone governments acting to ease the ongoing uncertainty, says central bank economist Kaspar Oja; domestic demand stays strong nevertheless
National Bank of Ukraine figures show end of deflationary period
Inflation figures show annualised CPI inflation rose from -0.3% in June to 0% in July; economic department deputy says figures are ‘close to optimal’
Nigerian bank responds to central bank call for more female leadership
United Bank for Africa appoints two female board members; follows push from financial sector leadership to increase number of women in senior roles in the industry
Bank of Botswana issues warning over counterfeit notes
Photocopies of 200 pula banknotes discovered; central bank urges public to report suspicious currency to the police
National Bank of Serbia moves to shore up confidence
Executive board raises interest rates and increases dinar reserve requirements; Serbian government says new budget being prepared as IMF delegation arrives
Norway’s pension fund loses $13 billion in second quarter
Continuing problems in the euro area and fears about global economy weigh heavily on the performance of Norway’s sovereign wealth fund, which has switched investment to equities and emerging currencies
UK moves to address Libor debacle
Martin Wheatley presses ahead with UK government investigation into Libor manipulation; may replace the interest rate benchmark
RBA reveals brighter growth outlook
Reserve Bank of Australia improves 2012 growth estimate; strong figures offset by uncertainty regarding external developments and possible upward trend for inflation
Portfolio theory vindicated by crisis, says Markowitz
Nobel prize-winner defends his work on portfolio theory, which critics claim has been discredited by the crisis
Central Bank of Brazil staff strike over pay
Central bankers join widespread Brazilian public sector strike in run up to passage of government budget; lower-level employees walked out with no impact on functioning
Japan holds rates and delays disbursement of fund provision
Bank of Japan maintains benchmark rate at near zero; puts off first issuance of fund provision due to reform plans for Libor
Bollard sets out vision of ‘new world’ economy
Governor of the Reserve Bank of New Zealand warns shift of global economy in favour of emerging Asia brings both risks and benefits; says attitudes towards debt have become more cautious
Updated 50 Bermuda dollar banknote enters circulation
New 50 Bermuda dollar banknote issued by Monetary Authority; includes new image of a longtail bird and reworked prefix on the serial number
Bank of Korea strikes melancholy note in policy announcement
South Korea notes struggling economic scenes both at home and abroad; MPC decides to hold benchmark rate as a consequence