Central Banks
FSB publishes annual work programme for first time
Priority is to address new vulnerabilities, while finalising, implementing and evaluating reforms
Italian political leader suggests taking control of gold away from central bank
Salvini says selling off part of reserves to finance policy is “interesting idea”
Arab countries must improve funding of small businesses – IMF’s Lagarde
SMEs make up 96% of Arab world’s businesses but get only 7% of bank loans – IMF chief
Myanmar adds yuan and yen as trade-settlement currencies
Move comes as yuan use rises and dollar use falls, analysts say
Lower Chinese demand helped slow eurozone growth – ECB’s de Guindos
Political uncertainty also helping to reduce growth, says ECB vice-president
US expectations key influence on inflation - San Francisco Fed paper
Fed must maintain inflation expectations around target, researchers say
Fed’s Bowman says regulators must tailor regulations for smaller banks
But stress-test reform to relieve smaller banks is credit negative, Moody’s warns
UK lawmakers demand end to inflation index ‘merry-go-round’
UK Statistics Authority called upon to seek permission from finance minister to amend RPI errors
Senior Italian government members attack central bank and regulator
Dispute over central bank deputy governor and chief regulator now very likely
Trump administration nominates David Malpass as next World Bank head
Nomination comes despite inaccurate pre-crisis predictions and criticism of global institutions
Balance sheet normalisation has put upward pressure on borrowing costs – Kansas Fed
Levels of reserves still influences borrowing costs despite post-crisis monetary policy framework
Quarles says FSB ‘must evolve’
New chair calls for changes in the way the organisation assesses financial sector threats
CBDC is mixed bag for financial stability – Bank of Korea
Central bank paper highlights stability concerns but says there are instances within which a CBDC could strengthen stability
Interview: Jussi Kangas on the future of cash
Bank of Finland adviser says it’s challenging to keep the cash cycle efficient as usage falls
UK economy stumbles as Brexit looms
Quarterly growth slips to 0.2% in final quarter of 2018, and monthly growth turns negative in December; business investment also down
Riksbank faces changed circumstances in first meeting since December hike
Dissenting deputy governor Per Jansson won’t attend due to personal reasons
Latest restructuring boosts the PBoC’s regulatory clout
Hui Feng says the restructuring of the PBoC carries “profound implications” for the central bank’s role in policy-making
Russian authorities start criminal investigation of failed bank owner
Private lender Otkritie was nationalised by central bank in 2017