Articles by Rachael King
UK’s Royal Mint challenges coin-note boundary
Director for circulating coin claims new feature will allow the new £1 coin to challenge low-denomination banknotes in terms of security
Swift to ‘streamline’ cross-border payments with DLT framework
Swift to launch blockchain proof of concept later this year utilising the ‘hyperledger fabric’
Income inequality should be a concern for central banks – IMF panel
IMF panel debates impact of unconventional monetary policy on income inequality, concluding institutions should be more aware of policy effects on income disparities despite no specific mandate
New governor appointed at Reserve Bank of Malawi
Former government official takes over from Charles Chuka, who spent five years as governor
Reserve managers see politics shaping currency allocations
European political uncertainty weakens confidence in euro, with sterling pressured by Brexit; dollar’s popularity resurgent, despite Trump’s economic policies
Brazil central bank steps up pace of rate cuts
Inflation outlook “favourable” with target likely to be achieved by 2018; government pursuing tough fiscal reform
Carney: financial infrastructure is now ‘fit for purpose’ for fintech
Bank of England governor announces RTGS will be opened to a broader range of participants, with new blueprint expected in May
Sarb will take ‘defensive posture’ to debt downgrade, says Ballim
South Africa’s central bank is unlikely to respond to country’s junk debt status unless rand volatility starts to affect prices; Fitch joins S&P in downgrading country’s sovereign debt
Brexit will be ‘litmus test’ for global system – Carney
Global financial system has reached “fork in the road”, says Bank of England governor; UK financial firms told to submit robust set of Brexit contingency plans by July
Fed’s Jeffrey Lacker quits over information leak
Richmond Fed president resigns after admitting he leaked information from the September 2012 FOMC meeting; Lacker failed to report indiscretion on three occasions
Asset purchases could bring benefits in ‘normal’ times – paper
IMF working paper discusses whether asset purchases should be added to standard central bank toolkit; the policies seem more effective at combatting financial shocks than supply shocks
Inflation worries prompt further action from Mexico
Mexico slows pace of rate hikes amid inflation worries and volatile exchange rate; monetary policy committee will closely watch US economy, latest announcement says
Paraguay’s Valdovinos: bond issuance ‘not all about the money’
$500 million issuance was six-times oversubscribed, but the Paraguayan governor says its success lies in the message it sends to investors overseas
Macedonia links up with EU payment infrastructure
Central bank announces local interbank payment system will connect with Target2 via the Bank of Italy; payments department manager says the development will enable smoother integration with the EU
Kenya’s Imperial Bank given 90-day lifeline
High court extends commercial bank’s receivership to allow shareholders and receiver to reach agreement; Kenya’s central bank takes first step toward removing licensing moratorium
IMF Paris explosion leaves one injured
Letter bomb explodes at the IMF headquarters in Paris, less than a day after an explosive device was sent to the German finance minister; Lagarde condemns the “cowardly act”
Latin American central bank interventions 'mitigate' liquidity shocks
Central banks more concerned with global factors than structural changes to forex markets; post-crisis regulation and tech advancements proving problematic for market makers
Chinese bitcoin exchanges continue prohibiting withdrawals
Bitcoin exchanges suspend withdrawals indefinitely following statement from PBoC official; central bank does see benefits to the technology
Danish central bank advocates specific cyber security testing
Survey shows only 50% of financial institutions specifically test their crisis response plans against cyber attacks; cyber security needs to be backed by senior management
Bank of Namibia takes over government-owned commercial bank
Bank of Namibia removes SME Bank’s chief executive after “suspicious investments” in South Africa; all banking services will continue to operate
Worrell’s woes: Barbadian governor battling on two fronts
Further evidence emerges on governor’s clash with finance ministry and board; Worrell worried about level of reserves and fiscal spending, while senior management complains of being marginalised
Carstens agrees to stay at Bank of Mexico until December
Following a meeting with the Mexican president and finance minister, the governor will stay until end-November; BIS board approves the arrangement with general manager Caruana to stay until December
BoE unlikely to predict next financial crisis, says MPC member
BoE MPC members grilled by MPs in forecasting models and past errors; Vlieghe says current models are just not good enough
IMF warns Bank of Mongolia against fiscal financing
Latest round of funding contingent on central bank making changes, mission chief says; support provided to help government deal with bond default, but fiscal changes must be made