Central Banking
National Bank of Denmark criticises independent economic report
Denmark’s central bank says Economic Council report on the Danish economy overestimates the economy’s growth potential
Basel proposal to capitalise settlement risk ‘unnecessary’
In comment letters published last week, banks have taken issue with Basel Committee guidance that would capitalise post-execution exposure to settlement risk
Zambia rate rise to suppress excess liquidity
Bank of Zambia monetary policy committee increases interest rate to combat a range of inflationary pressures
Mexican deputy targets productivity obstacles
Bank of Mexico’s Manuel Sánchez attributes low GDP per capita to ‘stagnant’ productivity; urges structural reform
IMF study analyses Asian monetary policy channels
Research published by the IMF examines monetary policy transmission mechanisms in Asia; questions whether interest rates are determined by global factors
Stockton review finds Bank of England’s forecasting ability wanting
A study commissioned by the Court of the Bank of England finds biases in forecasting and a lack of allowance for lateral thinking at the UK central bank
FSA’s Turner warns emerging markets not to repeat West’s mistakes
UK Financial Services Authority head warns public officials in emerging markets to beware bank lobby groups and their story of the limitless benefits of finance
BoJ expected to counter overseas monetary policy, minutes reveal
Bank of Japan minutes show senior Japanese government officials made demands of the Bank of Japan during its October policy meeting
Uganda cuts rates to 12.5% in bid to spur domestic economy
Bank of Uganda cuts benchmark rate to 12.5% in bid to boost domestic growth as inflation falls within medium-term target
IMF mission positive on Mozambique
International Monetary Fund inspectors cite significantly improved inflation levels and robust growth in GDP for latest favourable report on Mozambique
LCR drives expanding Asian liquidity swap market
Insurers are increasingly providing liquidity swaps to banks in what is viewed as a growing trend in Asia
FSB reveals G-Sib additional capital charges breakdown
FSB says four major banks to be hit by top 2.5% additional capital buffer as three banks leave and two are added to the list of global systemically important banks
Albania opens new currency centre
Bank of Albania has opened a new currency issue centre and mint as part of a wide-ranging property overhaul at the central bank
Norway paper finds emerging markets drive oil-price volatility
Norges Bank working paper finds that changes in emerging market demand for oil has more than doubled the impact on real oil prices and production compared with the developed world
Fed study shows US banks still wary of lending to European peers
US banks are continuing to tighten lending standards to their European counterparts with some winning additional business as a result of reduced competition from European banks, Fed study finds
ECB ends second covered bond programme
European Central Bank ends covered bond programme after buying €16.4 billion out of a planned €40 billion of the securities issued by euro-area banks; plans to hold purchases to maturity
BoE’s Bean sceptical of ‘helicopter money’; scotches calls to ‘cancel’ gilts
The Bank of England has received criticism for quantitative easing failing to normalise economic growth. But deputy governor Charlie Bean says some alternatives look even less attractive
Barbadian growth ‘stagnant’ as tourism falls
Central Bank of Barbados governor discusses economic review for first nine months of 2012 against a backdrop of falling growth and rising unemployment
Panic in Persia as hyperinflation hits Iran
Iran’s implied monthly inflation rate hit 69.6% in September, meaning the country appears to be entering the world's 58th hyperinflation episode
Local trade repositories are necessary, say HKMA’s Lee
The benefits of local trade repositories outweigh the possible disadvantages of multiple reporting requirements, says executive director of HKMA’s financial infrastructure unit
FSB finds OTC derivatives reforms riddled with gaps
Progress report shows market infrastructure is ready to meet G-20 commitments for OTC derivatives reform but many jurisdictions are still some way from implementing legislation
Constâncio: EU macro research needs greater engagement
The vice-president of the European Central Bank says macro-prudential research has yielded excellent empirical tools; needs greater support from academics and policy-makers
Hurricane Sandy disrupts Federal Reserve operations
New York Federal Reserve suspended operations for a day as hurricane battered eastern US; temporary measures taken to support banking in face of disruptions to power, communications and staffing
Malaysian deputy puts burden of education on financial advisers
Bank Negara Malaysia deputy governor says high demand for financial products has caused the central bank to refine its conduct guidelines but responsibility for education still falls with advisers