Central Banking
Atlanta Fed president sees dangers in chasing vague labour market target
Dennis Lockhart says policy-makers should balance considerations of longer-term costs when targeting 'substantial improvement' in labour market outlook
Carney says banks should follow the Canadian example in rebuilding trust
Bank of Canada chief says banks – at least those outside Canada – have a long way to go in rebuilding trust, but progress is being made
BIS paper urges policy-makers to consider co-ordinated bond strategy
Research finds effective response to a bond market crisis has become more difficult due to heavily laden central bank balance sheets, raising the need to better co-ordinate a crisis framework
AfDB ‘information highway’ seeks to drive data sharing
African Development Bank-led initiative aims to 'revolutionise data management' across continent by the end of July
People: ADB chief named BoJ front-runner; Bulgarian governor ‘cannot' run for PM
Haruhiko Kuroda widely expected to succeed governor Shirakawa next month; Bulgarian governor ineligible to lead interim government
Chan blames QE as HKMA raises macro-prudential defences
HKMA tightens macro-prudential rules applied to mortgage lending in face of emerging property market risks; Norman Chan says quantitative easing has created ‘extremely unusual’ conditions
Fed’s Powell and Rosengren hit back at ‘fiscal crunch’ research paper
Research suggests Fed is constrained by precarious US finances, but Fed governor and president offer alternative conclusions
Bank Indonesia governor nominee proves divisive choice
Government chooses Agus Martowardojo to replace Darmin Nasution as governor, but MPs question Agus’ integrity and macro-economic knowledge
EBA stakeholder group chair to quit
Sony Kapoor quits role heading banking stakeholder group at European Banking Authority; new group to be selected in September this year
South Africa governor outlines ‘upside' inflation risks
Sarb governor expects inflation to breach target range but immediately return; explains decision to hold rates
ECB's Cœuré hails 'European solidarity' smoothing the process of 'adjustment'
There are 'good reasons to be cautiously optimistic', says Cœuré, who blames 'rigidities' for exacerbating the pain of adjustment
BoJ paper quantifies benefits of liquidity-saving measures in RTGS
Working paper finds introduction of liquidity-saving features in Japan’s real-time gross settlement system has saved trillions of yen; urges vigilance as monetary easing is withdrawn
Fed’s Tarullo presses regulators for speedy reforms
Federal Reserve governor Tarullo urges Basel Committee to implement ‘Sifi surcharge’ within a year; Boston Fed president Rosengren says surcharge alone not enough
Eurozone recession to last through 2013, say new EC forecasts
EU researchers revise 2013 GDP growth forecasts down from +0.1% to -0.3%; inflation to fall to 1.5% this year, putting pressure on ECB for further easing
ECB’s Asmussen warns G-20 works poorly until disaster looms
Executive board member highlights G-20’s fatal flaw – it only works well during crises, and therefore struggles to prevent them; calls for reforms to strengthen the group
ECB reveals Italian dominance of emergency securities purchases
Data on purchases of individual countries’ bonds under the Securities Markets Programme released for first time; annual accounts show half of €1.1 billion bond profits came from Greece
Hungarian police confirm investigation of 'unknown person' linked with central bank allegations
Hungarian police launch malfeasance investigation into an individual believed to work at the National Bank of Hungary; governor András Simor is 'unlikely' to be the target
King and Zhou prepare ground for renminbi-sterling swap line
Governors discuss establishment of a currency swap arrangement between UK and China, with a final agreement expected to be signed ‘shortly’
BoJ survey shows households expect tough times to continue
Households see economic conditions as worse than a quarter ago and likely to stay the same, although the majority thinks prices will rise in the coming years
BoE MPC member makes case for more stimulus
David Miles presents model that suggests monetary policy is probably still too tight in the UK; says more QE would be one way to address this, but other easing strategies could also work
EBA discussion papers outline thinking on LCR and CRR definitions
Consultation opens on definition of highly liquid assets and retail deposits for the purposes of liquidity reporting under the Capital Requirements Regulation
Bank of Canada names new deputy governor
New deputy appointed as governor Carney and senior deputy governor Macklem unveil re-shuffle of responsibilities
NY Fed plans test run of small-firm open market operations
Fed prepares pilot programme to allow five smaller firms to act as counterparties in open market operations for a year, with the possibility of making the scheme permanent thereafter
Eastern Caribbean Central Bank sued over 'brazen act of thievery'
ECCB in the dock over management of failed bank; investors claim they should be compensated for loss arising from fraudulent ownership