Agustín Carstens
A new era for the BIS
As Basel III inches towards closure and a new BIS general manager prepares to move into his post, Jaime Caruana talks to Daniel Hinge about his eight years at the helm
Legal independence ‘not 100% insurance’, warns Posen
Academic says central banks have to look at the political context when policymaking, while senior figures say it is the responsibility of central banks to speak out
Mark Carney takes over two BIS chairmanships
Bank of England governor adds two further chair positions to his several existing roles, taking over from Agustín Carstens
Bank of Mexico revises upwards its economic forecasts
Inflation is projected to return to the 3% target in 2018 and growth to be higher than expected, says governor
BIS rewrites statutes to boost board diversity
Changes reduce the influence of the BIS’s European directors and could pave way for better representation of emerging markets
Bank of Mexico tightens policy for sixth time in a row
Hike should stop temporary rises in inflation from passing through, says central bank board; leaves door open for further rate hikes, with one eye on inflation and the other on the Fed
Mexico’s Carstens calls for continued trade cooperation with the US
Protectionist policies would be a step backward for both nations, Bank of Mexico governor suggests, saying continued cooperation will foster employment and investment
Mexico steps in to stabilise forex market
New derivatives contracts will be available to all credit institutions, with the first auction scheduled for March 6; a total of up to $20 billion will be allocated, central bank says
Carstens agrees to stay at Bank of Mexico until December
Following a meeting with the Mexican president and finance minister, the governor will stay until end-November; BIS board approves the arrangement with general manager Caruana to stay until December
Carstens to succeed Caruana at BIS
Bank of Mexico governor will step down in 2017 to take on top job at the Bank for International Settlements
Policy-makers need to be aware of the distributional impact of policies – Carstens
Hunt for growth needs to accommodate all, says Bank of Mexico governor; Carstens advocates a "three-pronged approach"
Inflation worries prompt action from Bank of Mexico
Central bank hikes interest rate by 50bps in last monetary policy meeting before the US presidential election; peso proves volatile in face of international events
Time to focus on green finance as Paris Agreement set to enter into force
Central bankers meeting at the IMF next week will discuss mechanisms to unleash private capital for green finance ahead of a Paris climate deal that could enter into force before 2017
People: Lithuania reappoints governor; Carstens retains BIS posts
Vitas Vasiliauskas handed second five-year term; Carstens will continue to chair the BIS’s global economy meeting and economic consultative committee; ex-Iceland governor to run for president
External conditions move Bank of Mexico to lower growth forecasts
Central bank cuts growth forecasts for 2016/2017 by half a percentage point; global slowdown starting to have larger impact
Lagarde reappointed as IMF managing director
Christine Lagarde is formally reappointed to lead the International Monetary Fund; early tasks facing her include Greek debt agreement
Peso depreciation casts shadow over Mexico rate decision
Central bank adamant it is not in a hiking cycle after 50bp rise; government taking steps to enforce measures on Pemex
IMF paper questions ‘visceral opposition’ to inflow controls
Guilty by association: controls on capital inflows “inextricably” linked to those on outflows, paper says; controls not “worse” or “costlier” than other policy tools
New bank business models could undermine stability, panellists warn
Panel including Mark Carney and Agustín Carstens raises concerns over the way regulation and low rates are forcing banks to adapt in unpredictable ways
Mexican governor granted second term on board
Carstens set for reappointment as governor after securing second term on board; his first term is widely viewed as a success, with one economist highlighting stable inflation
Mexican board split on July rate decision
Minutes from the July 30 board meeting show three board members voted to hold the key rate at 3%, with one member favouring a 25bp hike and another absent
Carstens-led IMFC urges policy-makers ‘to attenuate’ spillovers and spillbacks
Fund calls for ‘careful calibration’ of policy normalisation; endorses use of capital controls as a last resort
Carstens picked to head IMFC
Bank of Mexico governor will succeed Tharman Shanmugaratnam as head of the IMF’s International Monetary and Financial Committee
Fed hawk Fisher receives Mexican eagle award
Richard Fisher granted Order of the Aztec Eagle by Mexican president; Agustín Carstens praises the Dallas Fed president’s use of ‘simple and straightforward’ language