Central Banks
Draghi says ECB’s asset purchases should stay ‘open-ended’
ECB president rejects calls for September end to purchases as inflation forecasts rise slightly
Stress tests find vulnerabilities in European pension funds
More than a quarter of institutions could not fulfil their commitments following an adverse scenario
BoE expects UK inflation slowdown
Bank of England keeps rates on hold at 0.5%; disinflationary base effects likely to outweigh tightening labour market in near term
Demography, tech reduce US natural unemployment rate – paper
Baby boomers remain active longer, and older workers record lower levels of unemployment
National Payment Gateway launched in Indonesia
New national platform to consolidate fragmented infrastructure, reducing costs and improving efficiency
People: Fed appoints new payments security strategy chief
Boston Fed vice-president to lead payments security; director of prudential regulation of UK banks to stand down; Kuwaiti governor to chair Council of the Islamic International Board in 2018; and more
IMF concerned about Tanzanian NPL levels
Addressing financial sector vulnerabilities should be a “priority”, as high NPL levels start to restrict lending to the private sector
Fed hikes as Yellen hails strong job growth
Janet Yellen gives her last press conference as Federal Reserve chair
Reforms helped oil states weather shock – Kuwaiti governor
Governor says banks may not have fared so well without regulatory reforms; he says operational risks rules may need adjustment in face of cyber attacks
Early asset purchases much more successful – BIS paper
Authors find effectiveness falls over time as the shock wears off, questioning the value of long-running quantitative easing
Senior figure steps down from Irish central bank
Mary O’Dea was interim head of Ireland’s financial regulator during financial crisis of 2009
Weak inflation in Nordic countries likely to keep rates on hold
Sveriges Riksbank and Norges Bank set to prolong their dovish stances in last policy meeting of 2017; Iceland holds rates
Lower inflation brings relief for Argentina’s central bank
Central bank leaves interest rates on hold at 28.75%, as year-on-year inflation lowers to 22.5%
Central banks and supervisors launch green finance group
Seven central banks and two supervisory authorities found network to tackle climate risks and promote green finance
Roi to vacate Mauritian governorship in January 2018
Experienced first deputy Googoolye to take over for three-year term, having already served as interim twice over the past decade
Malaysia’s Ibrahim warns of costs of not turning digital
Bank Negara governor outlines plans to push consumers towards e-payments, as the cost of cheque processing weighs on the economy
Russian central bank becomes sole shareholder in failed bank
Central bank injects approximately $7.7 billion into Otkritie
UK inflation breaks out of target band
Inflation now above the BoE’s 3% upper limit, though breach may prove temporary
Financial distress in the US is concentrated in a small percentage of consumers
Around 10% of consumers account for 50% of all distress events, research finds
India needs radical reforms, says academic
State ownership has gone too far but the state needs stronger capabilities in other areas, argues Vijay Joshi
Denmark ‘not heading for cashless society’ – research
Central bank recognises cash transactions are in decline, but says consumers will always have the option to pay with cash