Central Banks
Cash usage in Switzerland below eurozone average – SNB survey
SNB’s first payments study finds 70% of transactions processed in cash in 2017
Time for Central Bank of Argentina independence
Monetary financing has fallen sharply under Mauricio Macri’s administration, but must now end; independence law would help efforts to shatter Argentina’s inflationary shackles
Federico Sturzenegger on Argentina’s efforts to create a credible central bank
The Central Bank of Argentina governor, in his last interview before leaving office, speaks about panic in emerging markets, the IMF bailout, and bringing to an end high inflation and monetary financing
Brainard says yield curve inversion may not presage recession
Flatter yield curve “may temper somewhat” fears of a coming recession, says governor
Trump appears to pre-signal strong jobs data
US jobs report shows large increase in jobs and further drop in unemployment
Dutch government re-appoints Knot as DNB governor and boosts board
Two board members re-appointed and new member for resolution named
People: BoE’s Fried promoted; Vlieghe reappointed
Bradley Fried to take over as Court chair; Gertjan Vlieghe gets new term; Anneli Tuominen to serve additional term at Esma; Israel appoints technology chief
China opens onshore market to foreign investors
MSCI adds Chinese shares to its emerging markets index for the first time
Fed and other US regulators call for major changes to Volcker rule
Complex legislation has created compliance uncertainty, Federal Reserve argues
UK’s FCA to act on banks using overdrafts as revenue source
Regulator proposes rules to improve transparency around the cost of credit, with plans to ban fixed fees if necessary
Have central banks created a ‘debt trap’? No, but ...
Tougher regulation has helped ensure extraordinary monetary policy has not caused a dangerous rise in private debt
Stress tests find large Danish banks can withstand severe recession
Smaller institutions fall short of minimum capital requirements, central bank finds
India needs new payments ‘vision’ – Kanungo
RBI deputy governor calls for debate on several innovative areas for Indian payments
Jonathan Haskel appointed to BoE MPC
Male economist chosen over four women who were shortlisted
Bank of England says UK payment schemes must adapt to ISO messaging standard
BoE will hold consultation with interested parties in June
Bank Indonesia announces second rate hike in two weeks
First meeting under new governor reflects central bank’s focus on currency stability