Central Banks
BoE’s Fisher sees longer horizon for asset purchases
MPC member Paul Fisher says Bank of England should consider switching to a more gradual pace of asset purchases over a longer period of time
New Zealand finance minister proposes new central bank toolkit
Bill English says new tools would allow RBNZ to manage excesses in credit cycles; emphasises credibility will hinge on continued central bank independence
Korean paper draws macro-prudential policy lessons from history of the 2000s
Working paper draws on Korea's experience of macro-prudential policies over the last decade, which failed to shield it from the impact of the global crisis
Czech National Bank enlists mobile app in fight against forgery
New mobile app to help Czechs check notes and coins for signs of forgery; counterfeit seizures continue downward trend
Central bank independence: more myth than reality?
Crisis responses are placing a heavy burden on many central banks. But there is no evidence showing that legally independent central banks have a better track record in monetary policy
Byres hints at Basel Committee rethink on risk-weight modelling
Secretary-general weighs challenges of balancing complexity and simplicity of capital requirements; outlines possible changes to banks’ risk modelling choices
EC and FDIC team up to tackle G-sifi resolution
European Commission and Federal Deposit Insurance Corporation establish working group to co-ordinate G-sifi resolution efforts
UK government appoints team to choose new Libor administrator
Committee to be led by Baroness Hogg and will include Martin Wheatley of the FCA and Paul Fisher of the Bank of England; recommendations expected later this year
Weidmann says Europe does not revolve around Germany
Bundesbank president calls on co-ordination between Europe’s "heavyweights" to drive reforms and boost credibility of the EMU’s fiscal rules
Singapore aims to match Hong Kong with ‘good-as-new' new year banknotes
Singapore follows Hong Kong's lead in encouraging public to use 'good-as-new' banknotes for new year gifts
BoE’s Tucker urges careful consideration of negative interest rates
Paul Tucker encourages MPC discussion of alternative accommodative measures; expects existing QE to gain more traction as eurozone recovers
Atlanta Fed president sees dangers in chasing vague labour market target
Dennis Lockhart says policy-makers should balance considerations of longer-term costs when targeting 'substantial improvement' in labour market outlook
Carney says banks should follow the Canadian example in rebuilding trust
Bank of Canada chief says banks – at least those outside Canada – have a long way to go in rebuilding trust, but progress is being made
BIS paper urges policy-makers to consider co-ordinated bond strategy
Research finds effective response to a bond market crisis has become more difficult due to heavily laden central bank balance sheets, raising the need to better co-ordinate a crisis framework
AfDB ‘information highway’ seeks to drive data sharing
African Development Bank-led initiative aims to 'revolutionise data management' across continent by the end of July
People: ADB chief named BoJ front-runner; Bulgarian governor ‘cannot' run for PM
Haruhiko Kuroda widely expected to succeed governor Shirakawa next month; Bulgarian governor ineligible to lead interim government
Chan blames QE as HKMA raises macro-prudential defences
HKMA tightens macro-prudential rules applied to mortgage lending in face of emerging property market risks; Norman Chan says quantitative easing has created ‘extremely unusual’ conditions
Fed’s Powell and Rosengren hit back at ‘fiscal crunch’ research paper
Research suggests Fed is constrained by precarious US finances, but Fed governor and president offer alternative conclusions
Bank Indonesia governor nominee proves divisive choice
Government chooses Agus Martowardojo to replace Darmin Nasution as governor, but MPs question Agus’ integrity and macro-economic knowledge