Central Banking
Kazakhstan aims for hat-trick in banknote beauty parade
The International Bank Note Society judges newly issued banknotes on aesthetic and security grounds; Solomon Islands among those aiming to wrest crown from the Kazakhs
Home repossession rules explain Europe's divergent debt profiles, paper finds
Discussion paper published by the Deutsche Bundesbank says differences in legal processes explain the ‘striking differences’ in debt profiles of each eurozone country
Sanusi exiled from Central Bank of Nigeria
Nigerian president Goodluck Jonathan suspends the central bank governor for financial recklessness; Sanusi says he will fight the suspension but accepts his days are numbered
Fed's Bullard wants more research into what drives labour market participation
St Louis Fed president concludes the existing literature suggests demographics are behind most of the decline in participation, but calls for more detailed work on household participation decisions
People: Slovakia puts financial markets head on the board; director re-appointed to the UK's PRA
The National Bank of Slovakia's executive director for financial markets has joined the central bank board; Charles Randell re-appointed to the Bank of England's PRA; and more
RBI and IMF clash over pace of tightening
Staff report from the International Monetary Fund calls for ‘significant increases’ in policy rates, but the central bank is reluctant to cut off the economic recovery
Robert Pringle's Viewpoint: The eurozone’s unfinished business
Economic adjustment and financial sector reform must go hand in hand – with the ECB due to play a central role
G-20 governors should co-ordinate exit, says IMF
Fund recommends greater co-ordination of monetary policy as well as negative interest rates at the ECB and devaluations in emerging markets, in report to G-20
Flug fears advanced economies will leave Israel behind
Bank of Israel governor notes gap between GDP per capita in Israel and US was close to 50% in 2011 and is expected to remain 'more or less the same' – a 'clearly troubling picture'
Central Bank of Chile cuts rate again as currency remains at five-year low
Bank lowers benchmark rate by 25 basis points to 4.25% and hints at further cuts in coming months, but analysts warn currency weakness and drop in copper exports should not be ignored
UK Supreme Court throws out $6.5m fraud case against Central Bank of Nigeria
The UK Supreme Court today accepted an appeal from the Nigerian central bank, which was accused of facilitating a $6.5m fraud in 1986
ECB paper tests resilience of Polish economy to interest rate shocks
Researchers find that output and prices in Poland have become more resilient to both interest rate and exchange rate shocks over the past two decades
Rwanda will keep easy policy while inflationary pressures are ‘limited’
National Bank of Rwanda introduces forward guidance in its latest semi-annual monetary policy statement; outlines plans to improve monetary policy transmission mechanism
Linde says reforms should focus on ‘twin engines of growth’
Bank of Spain governor says reforms are needed to mitigate the country’s ageing population and boost productivity
One in five Albanians has never heard of current or savings accounts
According to survey data analysed in Bank of Albania working paper, less than half of respondents know the concept of interest rates, but 80% understands the workings of inflation
Omani central bank chief still committed to dollar peg
Central Bank of Oman's Hamood Sangour Al Zadjali tells Central Banking journal the peg still offers 'substantial benefits' given Oman's economic structure
Central banks cut gold purchases by a third, as consumers pick up slack
Global demand for gold fell 15% in 2013 compared with 2012, as central banks slowed their purchases and ETFs made hefty divestments
BoJ extends lending schemes as economic growth disappoints
Two schemes aimed at stimulating bank lending are expanded and extended as economic data falls below Bank of Japan expectations; analysts expect more easing next quarter
Nigerian RTGS joins Swift
The country's adoption of the global payment platform yesterday is expected to improve settlement security and discourage the use of cash payments in the longer term
ECB's Praet defends ‘innovative' OMTs
Redenomination risk premia, as faced by the ECB in the eurozone crisis, was a new challenge for central banks that needed a new solution: outright monetary transactions
Reserve requirements may speed up development of capital markets, Peruvian paper finds
Central bank reserve requirements dampen credit cycles in periods of capital inflows and reduce their expansionary effects on aggregate demand, according to central bank working paper
Weidmann argues in Karlsruhe for strict monetary policy rules
Bundesbank president argues for legal strict limits to central banks' flexibility, saying such rules are particularly important to the functioning of European monetary union
RBA assistant governor says weaker Aussie dollar 'not surprising'
Transition of Australia's mining boom from 'investment to production phase' helps explain the currency's depreciation, says assistant governor Christopher Kent
Colombia sees benefit of weaker currency as inflation stays at record lows
Minutes say monetary policy framework is functioning well as lower levels of capital flight allow central bank to retain some of South America's lowest interest rates