Governance
Bank of Mexico launches cost-cutting drive
Central bank move follows government austerity drive, and includes a target of a 10% cut to the wage bill
People: Frank Smets to head ECB economics department; new Chilean board member
Long-serving ECB economist becomes director-general; Chilean senate ratifies the appointment of Rosanna Costa; new communications director for Banque de France
EU watchdog enquires into Draghi’s membership of G30
NGO accuses ECB of being too close to financial industry
Minneapolis Fed launches new research institute
“Opportunity and inclusive growth institute” will draw on multiple disciplines to extend the Fed’s research
Irish central bank sells old premises for €67 million
Move to new purpose-built premises due to be completed by end of first quarter
Review urges BIS to curb dominance of ‘house view’ in research
Panel including UK’s Charlie Bean finds BIS research has at times been “genuinely path-breaking” but should give economists more room to differ from the house view
South Sudan president dismisses bank governor, reports allege
Country’s economy in crisis, but central bank role appears limited, experts say
‘Humiliated’ RBI staff urge Patel to resist ‘unwarranted’ government interference
Reserve Bank of India staff send impassioned letter to governor to protect the central bank’s autonomy; finance ministry objects to claims, stating central bank is fully independent
People: RBNZ appoints new CIO; former BoE deputy to chair BBC
Reserve Bank of New Zealand appoints new CIO and head of risk assessment; David Clementi, former Bank of England deputy for financial stability, to head new BBC board; and more
Bank of Lithuania plans to cut costs by a fifth
Strategic plan aims at improvements to payments system; bank aims to increase income from investment
Book notes: The Man Who Knew: The Life & Times of Alan Greenspan, by Sebastian Mallaby
An extensive account of Greenspan's life and achievements, but would have benefited from a closer analysis of his relationships with comrades at the Fed
Lacker to retire from Fed after 28 years
Jeffrey Lacker, who has a reputation as a monetary policy hawk, is to step down as Richmond Fed president in October; the search is on to find successor
Slovenian court rejects ECB lawsuit against authorities
Case regards police seizure of ECB data in raid on country's central bank
TK Whitaker, 1916–2017
Former Irish governor was key figure in his country’s economic modernisation; earlier served as senior civil servant in finance and pushed through far-reaching reform plan
Luc Coene, 1947–2017
Former Belgian central bank governor also had significant political career
Stronger 2016 profit helps SNB rebuild reserves
Profitable year helps central bank repair its distribution reserve after losses in 2015, though profits appear to have slipped slightly in the fourth quarter
People: Central banks of Spain and Afghanistan appoint new deputy governors
Career central banker Javier Alonso promoted to deputy in Spain, Bank of Afghanistan names new first deputy governor, and more
Pablo Sánchez appointed to lead Central Bank of Bolivia
Academic to take over from Zabalaga after six years as president; latest IMF consultation highlights the disagreement with Bolivian authorities over independence and monetary policy
Echavarría takes over at Central Bank of Colombia
Former board member central bank takes office as economy is expected to recover from commodity slowdown; biggest challenge will be tackling high inflation
Czech central bank carries out internal reorganisation
Research division to be split between two departments; human resources joins general secretariat, while EU and international organisations division is moved to regulation department
J Dewey Daane, 1918–2016
Former Fed governor and adviser to the International Monetary Fund played key role in founding of the Central Bank of Paraguay
Bank of Israel cuts 2017 budget as building and banknote projects wind down
Central bank continues process of budgetary restraint as it unveils work plan for 2017; spending on renovation and new technology and emergency centre falls
Bank of Ghana improves communications strategy
A new 24-hour contact centre will allow queries from members of the public to be answered at all hours; the central bank encourages feedback on its communications
Sri Lankan government to restructure central bank
Central bank is to be restructured with amendments to the Banking Act, but disagreements remain between the finance minister and governor; inflation-targeting framework appears to be on track