Articles by Rachael King
RBNZ consults on DTI limits with full macro-pru review scheduled for 2018
Central bank evaluates benefits of limit and how it would interact with current macro-pru policies; consultation offers reassurance to households about welfare costs
Former PNG governor accuses institution of ‘fuelling corruption’
Morauta says central bank has become “inanimate puppet” in government game whereby it continues to fund the growing deficit
‘Relentless pressure’ on Barbadian central bank harms growth
Former central bank governor says government should get help from IMF ‘without delay’; fund assistance is proven to help and would result in long-term gains, says Worrell
Venezuela’s central bank devalues bolivar as crisis continues
Bolivar devalued 64% in latest currency auction in an attempt to stem effects of financial crisis; Goldman Sachs comes under fire from opposition leader
Financial integration will strengthen region – Thai governor
Santiprabhob says policies need to “converge” in order to create an integrated market; payment systems would be a good place to start with harmonised standards a proven solution, he says
Pace of monetary easing may slow, says Central Bank of Brazil
Committee unanimously cut interest rates to 10.25%, but political uncertainty could slow the future pace of easing; economist praises approach to monetary policy communication
MAS concludes 1MDB review with fresh fines
Credit Suisse and UOB fined $1.6 million collectively, with further individuals receiving lifetime bans
People: Maltese deputy resigns; India and Macedonia seek new deputies
Alfred Mifsud resigns from Central Bank of Malta following civil dispute with former partner; India and Macedonia advertise for senior officials; and more
DLT expert: central banks should consider wider uses than just payments
Instead of payments, central banks should look to implement DLT for identity document transfer, says Michael Mainelli; expert takes more cautious view of the technology
New Glass-Steagall would not separate banks if implemented, says Mnuchin
US treasury secretary’s stance on banking reform appears to contrast with that of president Donald Trump, who has offered seemingly contradictory statements on regulation
People: Romanian deputy nominated; Belgium’s Dewatripont leaves central bank
Romania to soon have new deputy governor, pending parliamentary approval; National Bank of Belgium’s deputy Dewatripont leaves central bank; India creates CFO role; and more
Digital currency could remove need for positive inflation target, economists argue
Proposed digital framework eliminates the need for “inflation buffer” and promotes transparency of the balance sheet
Dombret defends SSM as a ‘supervisory framework’
Bundesbank board member acknowledges there are issues, including communication, with the SSM and suggests targeting language barriers to reduce “home bias”
Sint Maarten finance minister issues ultimatum to central bank board
Gibson issues ultimatum to board regarding replacement of suspended central bank president Emsley Tromp; board members told to act in the best interest of the bank or be fired
Peru cuts rates for first time in more than two years
Reversal in food prices prompts board into action, with inflation now expected to end the year within target band; central bank will remain attentive to external conditions
Sterling depreciation will increase pace of tightening, BoE says
Inflation will overshoot target for longer period, reveals latest Inflation Report, but raising rates will not help, BoE says; “extraordinary circumstances” call for delicate balancing act
IMF urges new macro-pru tools for RBNZ to tackle housing market
Debt-to-income tools would complement existing macro-prudential toolkit and help rein in household credit, fund says; RBNZ in pursuit of such powers but decision must come from government
Tromp claims prosecutors are acting ‘negligently’; rejects tax fraud claims
Suspended governor accuses prosecutor’s office of being “driven by forces other than establishing the truth”; Tromp rejects allegation of tax fraud and claims he has acted within the law
Barbados raises reserve requirements for first time in a decade
Acting governor holds first press conference since 2014 to field questions about state of the economy; country needs “stronger fiscal discipline” before it can go to IMF, Haynes says
Bank of Tanzania revokes FBME Bank’s licence after US ruling
The bank was deemed a money-laundering risk in 2014, after a US report highlighted concerns; the Bank of Tanzania revokes its licence following the commercial bank’s removal from the US financial system
BoE opts out of distributed ledger tech for new RTGS system
New central infrastructure needed for RTGS revival; wider range of settlement models could be integrated by adopting a broader group of participants
Philippines deputy nominated as next governor
Duterte selects deputy governor to take over from Tetangco when his term ends in July; Espenilla’s background is in financial supervision and regulation
All aboard the blockchain
The underpinning architecture of bitcoin and other crypto-currencies – distributed ledger technology – has the potential to revolutionise digital payments, with some central banks working out how to harness ‘the blockchain’
Zimbabwe central bank actions like ‘putting lipstick on a frog’
Economic crisis is reminiscent of meltdown preceding dollarisation in 2008, but authorities have fewer options this time