Central Banks
Palestine to get new retail payments system
Palestine Monetary Authority announces deal for new electronic payments system; ATM machines and points of sale will become accessible to all debit cards without additional charges
Richmond paper instructs ECB to buy government debt
Working paper argues the ECB already conducts fiscal policy through the allocation of its seigniorage revenues, and should ‘overcome’ its resistance to buying sovereign debt directly
Mauritian governor strives to 'unlock potential' of Indian Ocean Rim bloc
Rundheersing Bheenick says countries surrounding the Indian Ocean have been ‘pulling in different directions’ and should build new partnerships
BoJ paper examines consumer spending in low-interest rate environment
Research based on BoJ opinion survey finds that an individual with higher inflation expectations will tend to have increased their consumer spending when interest rates are at the zero lower bound
Bank of England deputy tackles macro-prudential effects on banking
Paul Tucker tells Helsinki conference that banks' ‘core comparative advantage' would survive the removal of the ‘too-big-to-fail' subsidy
Lagarde advocates closer European integration
IMF managing director tells Romanian audience the ‘right future’ for Eastern Europe is greater integration with its EU neighbours; implores region not to turn its back on European project
ECB compares central bank collateral frameworks
Study by ECB contact group says differences in central bank, regulator and CCP collateral frameworks enhance resilience of financial market infrastructures
BoE's Fisher outlines likely QE exit route
BoE's head of markets tells parliamentary committee the MPC would hike interest rates as a signal that asset sales were on the way, but said its next move is more likely to be further easing
Reserve Bank of India announces measures to bolster weakening rupee
In tightening move, RBI raises its Marginal Standing Facility rate to 10.25% with 'immediate effect'; currency value rebound is expected to be short-lived
Korean MPC member says economy ‘relatively safe’ from impact of Fed taper
Woosik Moon says emerging economies will see long-term interest rates rise as global liquidity contracts, but the strength of Korea’s economy should insulate it against the turbulence
RBA minutes show board happy to let dollar keep falling
Reserve Bank of Australia monetary policy meeting minutes show the board feels a weaker Australian dollar could rebalance the economy; inflation outlook will allow for more easing
Turkish central bank weighs rate hike to stem lira slump
Governor Erdem Başçı says the MPC will consider widening the interest rate corridor in its meeting next week; forex auctions failed to reverse falling value of assets and currency
Fed's Plosser calls for more systematic monetary policy approach
Federal Reserve Bank of Philadelphia president Charles Plosser is bullish on the US labour market, calls for QE wind-down
Thailand and Hong Kong launch cross-border settlement scheme
Bank of Thailand and Hong Kong Monetary Authority look to eliminate cross-border settlement risk through establishment of Asia's third PvP link between different currencies
Bank of Lithuania refashions calculation for interbank lending rate
The central bank is replacing interest rates with credit ratings as basis for bank quotes
Fed’s Tarullo hints at global interest in 6% leverage ratio
Daniel Tarullo says the US leverage ratio must be increased to ensure it effectively supports risk-based capital measures; proposal has generated interest from regulators abroad
Central Bank of Hungary moves to shut IMF's Budapest office
Central bank governor György Matolcsy says Hungary has almost completed its stand-by arrangement, so the IMF's work there is done; Hungary's relationship with the fund has been turbulent
Eurozone countries still react differently to monetary policy, paper finds
Bank of Italy researchers find response has become more homogenous, but differences remain in the reaction of prices and unemployment
Central Bank of Trinidad and Tobago releases 2012 annual report
CBTT annual report reviews efforts by central bank to promote economic recovery and resolve failed financial institutions
Asian integration is still ‘incomplete’, says RBI exec director
G Padmanabhan says regional integration of Asian finanical markets has some way to go, and creation of an EU-style body remains ‘far-fetched’
China unveils raft of reforms to liberalise the renminbi
Series of reforms will facilitate cross-border renminbi settlement; RQFII programme has also been extended to Singapore and London
ECB's Constâncio welcomes SRM authority with no national veto
European Central Bank vice-president tells Singapore audience that banking union and European financial stability have important implications for the world economy
Brazil street protests show crucial role of central bank, says ex-governor Franco
Some politicians have ignored fears about rising inflation in Brazil but street protests demonstrate the vital importance of the Central Bank of Brazil in fulfilling its mandate, says Gustavo Franco
Russian central bank introduces new instrument for cheaper funding
New Bank of Russia governor brings in policy to auction 12-month loans to banks with a starting price 150bp under the standard 12-month repo rate