Central Banks
Cyprus finance ministry to publish SWF framework this year
Cypriot finance minister Harris Georgiades says he will finalise plans for a sovereign wealth fund this year, but monetising the country’s gas deposits remains a distant prospect
Monetary and macro-prudential co-ordination works well when pulling in same direction
Monetary and macro-prudential policy co-ordination brings benefits when they are both aiming at the output gap, but not when the regulator emphasises financial stability
People: BoK appoints new reserves chief; Fed staffer returns to head up Riksbank research
Chae Sun-Byoung new head of reserve management at Bank of Korea; Jesper Lindé returns to head up Riksbank's research department; Linette Field put in charge of SSM deputy directorate
FX lending in China tops $1 trillion, new BIS figures show
BIS's Robert McCauley estimates FX loans to China hit $1 trillion last year, though the recent renminbi depreciation may now cause lenders to think twice
EBA stress tests prove contentious: have your say
Market analysts raise concerns over the lack of a deflationary scenario in the forthcoming EU wide stress test; CentralBanking.com poll asks if the tests are strict enough
FOMC should be more explicit about its reaction function, says Plosser
Federal Reserve Bank of Phladelphia president Charles Plosser says 'simple, robust rules' can provide useful guidance for FOMC policy
Bank of Zambia moves to quarterly MPC meetings
Central bank reduces number of planned MPC meetings each year in an effort to produce ‘more meaningful’ analysis with a ‘longer time perspective’
Tarullo addresses Dodd-Frank's impact on mid-sized banks
The Fed governor notes these lenders 'vary enormously in size' and bridge current $50bn bar for enhanced prudential supervision; suggests 'line might be better drawn' at $100bn
Yellen says Fed's balance sheet will shrink ‘considerably'
Federal Reserve chair Janet Yellen hints central bank may stop rolling over QE principal as early as next year; denies that Fed policies have exacerbated inequality by ‘goosing' stock market
Bank of Guyana governor dies of cancer
Lawrence Williams, head of the bank since 2005, dies of cancer after long illness; deputy Gobind Ganga to assume governorship, according to reports
New Zimbabwe governor demands transparency
John Mangudya backs planned reform at the Reserve Bank of Zimbabwe and calls for a more ‘transparent and responsible’ institution
BoJ has increased income inequality, says Dutch paper
Researchers at The Netherlands Bank say the Bank of Japan’s asset purchases have contributed to the country’s income inequality by pushing up asset prices
Draghi points to ECB action next month
European Central Bank holds rates but is ‘comfortable’ with the prospect of easing monetary policy following next month’s economic forecasts
New Riksbank data finds household debt higher than previously thought
Study by the central bank puts average debt ratio for households with mortgages at 313%, roughly double the official national average
IMF pushes Kazakhstan to modernise monetary policy
The National Bank of Kazakhstan should widen its exchange rate band and adopt ‘more effective’ interest rate instruments, the IMF says
Albania governor says lack of European co-ordination exacerbated crisis spread
Bank of Albania governor says big European banking groups can transmit global and European shocks to small economies in south-eastern Europe
Norway SWF axes JP Morgan as global custodian
Citi has secured custody responsibility for Norway's Government Pension Fund Global's $850 billion global equities portfolio
Jeremy Stein casts doubt on Fed's communication strategy
The governor, who steps down later this month, says he failed to appreciate how challenging communicating monetary policy can be before joining the Fed
RBNZ’s Wheeler threatens currency intervention
Graeme Wheeler spells out the Reserve Bank of New Zealand’s concern over its ‘overvalued’ currency, and says the central bank would consider intervening
Bank of Zambia holds seminar for local journalists
The Bank of Zambia held a three-day seminar for journalists at a holiday resort last week, impressing on them their responsibility to provide accurate information on the economy
State secretary takes over at Kyrgyz central bank
Head of the government’s economics department, Tolkunbek Abdygulov, is appointed acting governor of the National Bank of the Kyrgyz Republic at the age of 37