Central Banking
Bank of Zambia to revamp ‘outdated’ supervisory framework
IMF praises the central bank’s efforts to inspect banking sector following overhaul of monetary policy framework in last 12 months
Norges Bank says it is still capable of managing wealth fund
Central Bank Law Commission recommends creating a new entity to manage the Government Pension Fund Global
Venezuela replaces governor after less than two months in office
Constituent assembly appoints MP as economy battles hyperinflation and economic collapse
People: MAS appoints cyber security chief in management reshuffle
MAS makes promotions including first chief cyber security office; Visco confirmed; Republicans turn on Yellen; Richmond Fed picks CFO; new chief of staff in Paraguay
Text mining reveals differences in PRA approach
Researchers compare Prudential Regulation Authority’s communications to its predecessor using a machine-learning algorithm
RBA looking to handle uncertainty better, says Debelle
Reserve Bank of Australia to change way it presents forecasts in order to avoid false impression of precision
Zimbabwe back in hyperinflation, say Hanke and Bostrom
The economists estimate that Zimbabwe’s monthly inflation rate is now above 100%
Riksbank on hold despite above-target inflation
Central bank is cautious about moving too fast amid sluggish hikes elsewhere
Italian premier proposes Visco for a second term, despite opposition
Former prime minister Renzi tried to derail governor’s renewal, questioning his record on supervision
ECB to reduce monthly asset purchases to €30 billion
Central bank extends QE by nine months until September 2018, and keeps rates unchanged
Low inflation partly down to luck – CEPR report
David Miles and co-authors argue advanced economies’ luck on inflation could run out; recommend central banks prepare
Brazil’s central bank slows pace of monetary easing
Central bank scales back cuts to 75bp with suggestion it will slow pace further moving forward; inflation continues to fall as forecast
DLT has ‘more potential for change’ outside US – Boston Fed VP
Jim Cuhna says distributed ledger technology can transform financial services not only in payments but also in securities settlement; challenge is finding use cases
Brazil loosens prudential regulations for non-banks
Small non-banks’ regulatory processes will be made cheaper under new legislation, while capital requirements will be reduced
Hong Kong and Singapore to collaborate on fintech
The first joint initiative of the two rival cities is to link the trade finance platforms with a DLT-backed interface
US debt and delinquency exceed pre-crisis levels – research
After five years of deleveraging, US households started to increase their debts in 2013
ECB likely to extend QE despite stronger growth, analysts say
Central bank expected to prolong programme by six months at reduced monthly rate of €30 billion
IMF’s Lipton says global growth is not ‘strong enough’
Deputy director says some emerging markets risk getting left behind
BoE paper studies interest rates across eight centuries
In July 2016, the global risk-free rate hit its lowest level since at least 1273, according to a new extra-long-term dataset
Argentina raises interest rates in pursuit of lower inflation
Despite declining core inflation, higher fuel prices could pose a threat to the central bank’s 2018 target; central bank raises rates to 23.75%
China’s party congress hints at new PBoC chief
Contest narrows to banking regulator head Guo Shuqing and Hubei province party secretary Jiang Chaoliang
RBI welcomes $32 billion public bank recapitalisation
Government unveils funding package designed to free India’s large public banks from a heavy burden of non-performing loans
ECB’s Nouy advocates global banking supervisory co-operation
The international nature of the financial system demands regulation across borders
Sri Lanka working to introduce ‘proactive’ policy – governor
Central bank in the past tended to do “too little, too late”, leading to big swings in interest rates, says Coomaraswamy