Central Banks
People: US Senate confirms Powell as new Fed chair
PBoC’s Zhou Xiaochuan not included in key advisory body; Buhari set to appoint new deputy governor at CBN
Central bank communications risk circularity, says BIS paper
Policy communications influence market prices and market prices influence policy, warn Stephen Morris and Hyun Song Shin
Draghi strongly criticises US statements on dollar
ECB president calls for US to keep “implicit agreement” on avoiding competitive devaluations
Delayed restructuring prompts strike action at Central Bank of Cyprus
Cypriot central bank staff strike over lack of communication from senior management on restructuring plans; former governor fears independence is under threat
Better data needed amid rise of non-banks – BIS study
Survey of post-crisis banking structure finds sturdier core banking system, but risks shifting to periphery, raising the need for better surveillance
Bank Negara makes first rate hike since 2014
Bank Negara Malaysia is the first South-east Asian central bank to hike rates this year
Rebased ‘Maddison’ data reshapes economic history
New approach to measuring GDP per capita generates fresh insights from the long-run growth database
South Africa needs to press ‘reset button’ in 2018 – Mminele
Economy floundered after political instability harmed investor confidence; South Africa should capitalise on the upswing of 2018, says Sarb deputy
Anti-money laundering technologies can bring new risks – European supervisors
Regulators need to ensure firms understand new technologies, ESAs say
BoE denies involvement with controversial charity auction
Central bank says it was unaware tea with Mark Carney was being auctioned, after FT investigation raises allegations of sexual harassment
IMF welcomes reform progress in Egypt
A flexible exchange rate and tighter policy have helped stabilise the economy
Central Banking Awards: Bank of Canada is central bank of the year
Awards go to the Bank of Canada, PriceStats, Perago and De La Rue
Central banks should not be underestimated – DTCC chief
Michael Bodson says central banks will always find a way to deal with crises, even without interest rates at their disposal; Hélène Rey says interconnectedness of system is a risk
Nouy warns eurozone banks to prepare for NPL framework changes
Possible changes to ECB and Commission rules make balance sheet clean-up “crucial”
Liberalising services trade could tackle imbalances – BoE paper
Finding ways of reducing barriers to services trade could substantially cut imbalances
Consultancy and advisory provider of the year (currency management): De La Rue
The UK-based company is helping central banks monitor the lifespan of banknotes in a bid to improve stock management and cost-effectiveness of currency operations
Goodfriend’s economic views challenged by US senators
Nominee to Fed’s board criticised the dual mandate of low inflation and unemployment in the past
ESM hails Greece’s progress in third bailout
The country should exit the programme in August as growth accelerates and bond yields fall