Central Banking
Sarb creates new position to streamline support services
South African Reserve Bank announces appointment of a chief operating officer; from November 1 Pradeep Maharaj will be responsible for all support services at the central bank
IMF paper analyses how commodity prices impact inflation
Working paper investigates how international commodity prices affect domestic inflation; finds governance and autonomy are central bank’s biggest tools to combat shocks
UK MPC member discusses QE exit strategy
David Miles says BoE will increase interest rates before selling government bonds; strategy will provide margin for error when monetary policy is tightened
Irish deputy governor seeks to adapt funds regulation
Matthew Elderfield announces changes the Bank of Ireland will make to regulatory framework for investment funds; says the central bank will move its authorisation system online
Finland’s Liikanen calls for equal transmission of monetary policy
Bank of Finland governor says monetary policy should transmit equally around Europe; access to funding should not be hampered by “unfounded risk premia”
IMF mission begins new talks with Serbia
Fact-finding mission focuses on macroeconomic outlook, fiscal situation and effects of changes to the central bank law; government reveals efforts to cut budget
New UK MPC member coy over policy stance
Ian McCafferty maintains a neutral perspective ahead of his first MPC vote; says it is difficult to be precise about effects of QE
Riksbank unveils designs for new coins
Redesigned Swedish coins to have sun, wind and water theme; will enter circulation in October 2016
Reserve Bank of Fiji governor promotes financial inclusion innovations
Barry Whiteside extolls benefits of co-operation between stakeholders in the bid for financial inclusion; encourages novel projects to reach the under-served
Central Bank of the UAE optimistic in first financial stability review
First financial stability review released by Central Bank of the UAE reveals positive developments; growth has recovered since 2009 slump while inflation is near-zero
French research examines impact of credit rating changes
Banque de France study examines impact of a change in a country's credit rating on investment markets; downgrades have significantly larger effect on spreads
Bank of Finland appoints new head of legal affairs
Maritta Nieminen becomes first woman to be selected to lead the legal department; predecessor is retiring
ECB’s Constâncio stresses need for banking union
ECB vice-president says banking union will help tackle increasing divide of markets along national borders; could guide intervention in market risk
ECB appointment hearing postponed due to lack of female candidates
Hearing to discuss Yves Mersch’s appointment to the ECB’s executive board on hold; talks with Eurogroup president taking place
Reserve Bank of Fiji delivers positive economic review
Latest economic review reveals generally optimistic developments in Fijian economy; growth and inflation expected to meet projections
Kim succeeds Shirakawa as chairman of BIS Asia council
Bank of Korea governor Choongsoo Kim named chairman of the BIS Asian Consultative Council
State Bank of Vietnam forms payments advice board
New board will advise central bank governor on payments issues; will conduct research and make proposals for ways to improve Vietnamese systems among other duties
BoE’s Dale says further easing carries ‘potential risks’
Spencer Dale recognises role monetary policy steps have played in stabilising UK economy, but warns further quantitative easing could come with drawbacks
Central banks launch joint investigation into Libor scandal
Economic Consultative Committee announces examination of reference rates used in financial markets; market will be consulted
Reserve Bank of New Zealand official discusses banking culture
Don Abel says financial institutions’ survival hangs on their culture; the success of risk management depends on integrity
Canadian governor refuses to lean on exchange rate
Mark Carney praised effect of high commodity prices on Canada’s economy despite currency appreciation; says he will not intervene in exchange rates
Irish deputy governor analyses monetary policy’s role in stability
Stefan Gerlach explores the dynamic between using monetary policy and macro-prudential policy to address financial stability; says the two can be used in tandem, with considerations
Bundesbank paper investigates how relationships impact interbank lending
Bundesbank study reveals importance of good relationships to the liquidity of interbank markets; private information determines banks' willingness to lend and the price of their loans
Bank of Lithuania approves guidelines on financial services advertising
New guidelines aim to improve the quality and information content of financial advertising; central bank warns against ‘aggressive and non-informative’ adverts