Central Banks
New Russian banknote provokes anger in Ukraine
Ukrainian central bank prohibits institutions from handling new note, which depicts scenes from Crimea region; design was chosen by the public in 2016
Goldfajn stresses current target remains ‘credible’
Central bank pushed back against calls for the target to be raised during 2016 debate
Irish deputy governor warns hard Brexit is ‘entirely plausible’
Ed Sibley voices concerns over new costs and frictions in European markets; EBA warns against setting up “shell offices” as response to Brexit
Higher rates contributed to recovery in Latin America – IDB economist
Less hawkish policies can fail to generate growth but push up inflation, research finds
OECD urges UK to maintain ‘close ties’ with EU
Latest assessment of UK economy warns of damaging impact of Brexit vote; Ángel Gurría says close future relationship “absolutely key”
Inflation target supports price setting and wage formation – Ohlsson
Target contributed to economic recovery in Sweden, Riksbank deputy governor says
PBoC’s Zhou warns China’s leverage is ‘relatively high’
Governor says corporate sector debt has ballooned partly due to local government financing vehicles
Rand still at risk despite recovery – Mminele
Sarb deputy warns against complacency as risks to exchange rate linger on the horizon; both internal and external threats remain
Carney warns against splitting London’s euro clearing
Europe would suffer more than the UK if euro clearing moves to the EU post-Brexit, Bank of England governor says
The candidates knocking at Yellen’s door
Leading academics and economists weigh the competency of the top candidates for the Fed job – and how likely they are to win Trump’s favour
BoE’s new MPC members disagree on future path of hikes
New deputy Dave Ramsden sees current degree of slack to be too great to warrant removal of stimulus, while Tenreyro believes it cannot “persist for too long”
Williams: weak productivity, population growth keep rates low
The “new normal” implies a federal funds rate at 2.5%, says San Francisco’s John Williams
Basel Committee in ‘last few metres’ of post-crisis marathon
Secretary-general says it would be unwise to quit with the finish line so close, but adds the committee won’t be running another marathon for a while
US Treasury hands CCP resolution powers to FDIC
Mnuchin regulatory review explicitly refers to FDIC as receiver under a Title II resolution
People: FSB appoints new secretary-general
ADB’s East Asia department and International Association of Deposit Insurers also gain new heads
Colombian banking sector not at risk despite homogeneity – paper
Economist examines diversity of Colombian banking sector and notes “distance” between banks is low; lending and funding portfolios are most similar, author says
Philippines central bank seeks to allay concerns on FDI slowdown
Foreign direct investment into the Philippines dropped 37.9% in the year to July; government is struggling to meet ambitious growth targets
Moldovan parliament expands central bank’s supervisory powers
Major bank crime saw theft of approximately 12% of GDP in 2014
Riksbank simulates a payments crisis scenario
Central bank deems offline payments and withdrawals a suitable alternative to credit cards
PBoC targets stability ahead of party congress
China's central bank has taken several measures to boost stability in the run-up to the Communist party congress, which starts on October 18