Central Banks
South Africa governor outlines ‘upside' inflation risks
Sarb governor expects inflation to breach target range but immediately return; explains decision to hold rates
BoJ paper quantifies benefits of liquidity-saving measures in RTGS
Working paper finds introduction of liquidity-saving features in Japan’s real-time gross settlement system has saved trillions of yen; urges vigilance as monetary easing is withdrawn
Fed’s Tarullo presses regulators for speedy reforms
Federal Reserve governor Tarullo urges Basel Committee to implement ‘Sifi surcharge’ within a year; Boston Fed president Rosengren says surcharge alone not enough
ECB’s Asmussen warns G-20 works poorly until disaster looms
Executive board member highlights G-20’s fatal flaw – it only works well during crises, and therefore struggles to prevent them; calls for reforms to strengthen the group
ECB reveals Italian dominance of emergency securities purchases
Data on purchases of individual countries’ bonds under the Securities Markets Programme released for first time; annual accounts show half of €1.1 billion bond profits came from Greece
Hungarian police confirm investigation of 'unknown person' linked with central bank allegations
Hungarian police launch malfeasance investigation into an individual believed to work at the National Bank of Hungary; governor András Simor is 'unlikely' to be the target
King and Zhou prepare ground for renminbi-sterling swap line
Governors discuss establishment of a currency swap arrangement between UK and China, with a final agreement expected to be signed ‘shortly’
BoJ survey shows households expect tough times to continue
Households see economic conditions as worse than a quarter ago and likely to stay the same, although the majority thinks prices will rise in the coming years
BoE MPC member makes case for more stimulus
David Miles presents model that suggests monetary policy is probably still too tight in the UK; says more QE would be one way to address this, but other easing strategies could also work
Bank of Canada names new deputy governor
New deputy appointed as governor Carney and senior deputy governor Macklem unveil re-shuffle of responsibilities
NY Fed plans test run of small-firm open market operations
Fed prepares pilot programme to allow five smaller firms to act as counterparties in open market operations for a year, with the possibility of making the scheme permanent thereafter
Eastern Caribbean Central Bank sued over 'brazen act of thievery'
ECCB in the dock over management of failed bank; investors claim they should be compensated for loss arising from fraudulent ownership
Hungarian central bank may face police investigation
Reported police investigation follows State Audit Office allegations of unlawful behaviour at the central bank, including passing 'secrets' to the IMF
FOMC members 'undecided' over further asset purchases
Federal Open Market Committee displays more uncertainty over when to halt asset purchase programme; wary of buying more securities but scared of ending purchases too soon
IMF staff present mixed economic outlook following G-20 meeting
Report sounds note of cautious optimism as financial markets recover, but downside risks remain around the implementation of important policies in the US, Japan and Europe
New Zealand Reserve Bank 'prepared to intervene' in FX markets - governor
Graeme Wheeler says currency is over-valued, and investors should know that the Kiwi is 'not a one-way bet'
UK statistics office explains QE impact on national debt
ONS attempts to clarify accounting practices used in transferring cash reserves from Bank of England’s quantitative easing programme to the Treasury
Australian banks propose ‘layered' high-speed payments system
Industry body presents ‘fast payments solution' based on core infrastructure and additional services; RBA describes proposals as ‘substantial initial progress'
UK’s Turner says financial fragmentation may not be a bad thing
Chairman of UK FSA says restrictions to cross-border financial flows have important benefits that should be weighed against costs
IMF paper urges ‘meaningful debt restructuring’ in private sector
Study says 'now is the time' for governments to tackle households and corporate sector debt; out-of-court restructurings may be a useful tool
Report slams IMF over Article IV ‘formalistic rituals’
Independent Evaluation Office finds IMF has been consistently failing in some areas, with the Fund paying little attention to the needs of individual countries
BoE minutes signal ‘shift in remit' to support economic growth
Minutes reveal governor Mervyn King sided with expanding QE, leading analysts to speculate that inflation is no longer a target
Eurozone ‘funding for lending scheme' gains favour
ABN Amro says a eurozone FLS would be ‘the most practical way of dealing with the credit constraints of SMEs'; Sony Kapoor says ECB would be ‘irresponsible' to ignore it
Zhou Xiaochuan to stay on as governor of PBoC, says Reuters
China’s top central banker and renminbi reformer Zhou Xiaochuan may not step down from his post as previously expected, according to a news agency report