Central Banks
Markets should not panic over reserve levels – Bajan governor
Haynes says level of reserves has reached new all-time low at 6.6 weeks of imports, but central bank is not considering a devaluation
Potential ATM closures will be PSR’s first ‘major test’ – Morgan
Treasury select committee chair says Payment System Regulator should not hesitate to intervene should closures threaten financial stability; market calls for independent review
Rates on hold after Yellen’s final FOMC meeting
New committee finds unanimity on rate hold, as Janet Yellen prepares to step down
Misinterpreting commodity price swings can be damaging – BIS paper
Whether movements are down to supply shocks or changes in global demand matters for policy, and mistakes can be procyclical when central banks act together
Renminbi struggles to gain prominence on global stage – Swift
Chinese currency usage only accounted for 1.61% of domestic and cross-border payments in December 2017; digitisation may be the key to currency’s success
Taiwan deputy nominated as next governor
Yang Chin-long seen as likely to follow the monetary policy stance of his predecessor, Perng Fai-nan
Ireland nominates Lane for ECB vice-presidency
Irish governor has a track record as academic economist and senior ESRB figure
Carney rejects accusations of ‘cognitive bias’ at BoE
Parliamentary committee members say BoE relied on inaccurate forecasts before Brexit, affecting policy decisions
Sarb comes to defence of Capitec after ‘loan shark’ claim
US research firm takes aim at South African lender, accusing the bank of “reckless lending practices”, but central bank maintains it is “well capitalised”
Banks expand some lending following crises, research shows
While portfolio lending is restricted, banks expand some other forms of lending
People: Vlieghe gets second term at BoE; ECB appoints directors
Group of central banks promoting the goals of the Paris agreement on climate change appoints first chairman; and more
State Bank of Vietnam seeks to rein in credit growth
Target of 17% credit growth this year to contain risks
Inflation falls in the euro area despite stronger growth
Annual price increases expected to fall to 1.3% in January, Eurostat says
Carstens: regulators should not forget the non-banks
Banking standards may be largely complete but there is still work to do on non-banks and fintech, the new BIS chief says
Sovereign bond-backed securities could improve eurozone stability – ESRB
Regulations would need to change and treatment of sovereign bonds would be vital, argues Central Bank of Ireland Governor
Colombia signals end to easing cycle
Despite stronger than expected inflation, board cuts interest rates by 25bp to 4.5%; US policy normalisation and elections could put pressure on the peso in 2018
Weaker dollar may indicate markets expect US slowdown
Weakening currency despite strong growth presents puzzle for policymakers
Turkey lifts inflation forecasts for 2018 and 2019
Weaker lira is expected to keep increasing import prices, with inflation currently in double digits