Central Banking
Norway SWF manager doubles leadership team
Norges Bank Investment Management sets up separate ‘leader group' for real estate investments; wealth fund returns 3.3% ($31 billion) in second quarter
IMF researchers say CCBs ‘show less promise’ than other macro-prudential tools
Working paper finds counter-cyclical capital buffers are less effective than measures aimed at banks’ assets and liabilities in reducing the rate of asset growth on their balance sheets
Glenn Stevens calls on ‘animal spirits’ to drive Australian economy
Governor of the Reserve Bank of Australia calls on businesses large and small to invest in new areas outside of the mining sector, suggesting that monetary policy has done its bit for the economy
Angola SWF to send students to Switzerland as it ‘invests in investing'
Petroleum fund will pay for bright young Angolans to study investment in Zurich; move follows advice from abroad that investment capacity should be built up
Bank of England MPC sees first dissent since 2011
McCafferty and Weale vote to raise interest rates, minutes show, as conflicting labour market developments split committee's view on UK spare capacity
Portfolio flows to emerging markets make asset prices volatile - IMF paper
Working paper unpicks domestic pull factors versus global push factors, finding the latter more powerful in determining portfolio flows
Bank of Albania toughens checks on employees as governor clings on
Governor Fullani contradicts central bank statement that his dismissal was discussed; employees will be required to disclose divergent 'behaviours or opinions'
Riksbank's Ingves and Flodén warn over risks of persistent low interest rates
Interest rates may need to stay low - creating dangerous levels of household debt, Riksbank governor and deputy tell parliamentary committee
Korea needs more women and young people in work, paper finds
Labour market ‘duality' and low youth and female employment are holding back growth, according to paper written by Bank of Korea and IMF economists
RBA does not see inflation pick-up as threat to target
Minutes from latest board meeting show RBA staff expect inflation to remain ‘consistent’ with target despite annual CPI inflation hitting 3% in June
Fed orders banks to break open black boxes
Vendor models need to be properly validated for 2015 stress tests, Fed insists – but banks say they are finding it hard to get the required information
Philippines achieves ‘meaningful’ progress towards financial inclusion
Central bank assesses state of inclusion in the country; finds 3.6 million new deposit accounts were opened in 2013, while the total value of deposits rose by 32%
Cœuré sees cyber threats and virtual currencies rising on payments agenda
Chair of the CPSS suggests the organisation should look beyond securities and derivatives markets in the 25th anniversary edition of Central Banking journal
Robert Pringle's Viewpoint: Haldane plus Rajan = New model central bank?
Robert Pringle offers an alternative to Bank of England chief economist Andrew Haldane’s scenarios for the next 25 years of central banking
Trinidad governor blocks publication of reports that could ‘undermine confidence' in central bank
Jwala Rambarran obtains injunction against newspaper to prevent ‘dissemination of defamatory libel' after central bank's security system was hacked
Capital lured to EMs by interest rate differentials, CBRT paper finds
Inflation and global liquidity other important drivers of international capital flows post-crisis, but countries' growth rates have less effect
Hungary central bank hits back over profligacy claims
Central bank takes exception to Financial Times blog on its purchase of a holiday home, saying many other central banks have them too
RBA appoints John Simon research head; UK Payments Council names interim CEO
Reserve Bank of Australia promotes John Simon to head of economic research department; Payments Council says Maurice Cleaves will start as interim CEO in November
RBI could appoint COO in structural rethink
Board of directors approves the ‘broad contours’ of reform plans that could see the Reserve Bank of India name a chief operating officer
IMF hosts Middle East forum on Basel III compliance
Middle Eastern countries work together to ensure adequacy of local lenders' capital and liquidity; new report credits region's ‘strict capital quality rules'
Limits to foreign lending would cut bail-out risks, Banque de France paper claims
Paper examines why countries bail each other out, and argues a tax on lending to foreign countries would stop investors betting on an implicit guarantee
HKMA's Chan will champion Hong Kong's asset management industry
Norman Chan calls on officials to ‘put our heads together’ and figure out how to attract more ‘upstream’ asset management activities to Hong Kong
Guðmundsson secures second term as Iceland governor
Incumbent Már Guðmundsson fends off competition from Friðrik Már Baldursson and Ragnar Árnason to take the top job at Central Bank of Iceland, despite reported run-in with Icelandic prime minister
Unconventional monetary policy has heightened medium-term risks to banks, IMF paper finds
No evidence that unconventional monetary policies has ‘helped' banks, according to paper; finds deterioration of medium-term bank credit risk in US, UK, and the eurozone