Central Banks
Barbados government should cut staffing to reduce expenditure – Worrell
Government should aim to reduce its expenditure rather than raise taxes, says former central bank governor; departments should be reorganised to operate with fewer staff
Bullard raises concerns about east coast dominance of the Fed
St Louis Fed president is not worried about the major shake-up of the board of governors; points to reducing the influence of the New York Fed on the FOMC
Time to ‘reignite’ SME development, says Zim governor
Mangudya notes importance of SMEs in supporting nation’s economy but acknowledges access to banking sector is currently poor; financial inclusion strategy aims to help
ECB wants ESAs to focus on ‘European dimension’
The central bank says supervisors should be reshaped to better promote European interests; it recommends greater powers and a governance shake-up
St Louis’s Bullard on the future of the Fed and its monetary policy record
St Louis Fed president James Bullard rails against east coast dominance, favours aspects of the Choice Act and says Fed monetary policy was a “factor” that fuelled crisis
FSB says ‘significant work’ still needed on cross-border resolution
Work is progressing but major obstacles remain; FSB’s Elke König urges regulators not to lose “reform momentum”
People: Fed appoints general counsel; new department heads at Riksbank
Fed appoints former supervision and regulation head to general counsel; new heads of monetary policy and financial stability for Riksbank; and more
FSB turns to video in effort to widen comms reach
“Safer, simpler, fairer” video seeks to broaden communications effort to a less specialised audience
Pakistani government picks new governor after SBP spat
Tariq Bajwa takes over from acting governor Riaz Riazuddin; appointment of finance ministry official follows clash over exchange rate movements
Bank of Thailand raises growth forecast amid weak inflation
Thai central bank says it is waiting for economic growth to become more broad-based, as inflation continues to disappoint
Any London forex trading move would be ‘gradual’ – ECB
City’s place in global submarine cable network is likely to be key, researcher says
US policy having a larger impact on credit – BIS paper
Monetary policy’s effects on credit and housing markets have grown while the effects on inflation have weakened, paper finds
Inflation data causes rift in FOMC
Fed officials discuss whether incoming low inflation data is “transitory” or is a sign of worrying things to come; minutes outline balance sheet unwinding but date remains unknown
Mystery shopping can strengthen supervision – MAS executive director
Unconventional tool can help distinguish whether accounts are misleading or inaccurate; supervision needs to be backed by “appropriate” enforcement