Central Banks
Ethical investment may not mean higher returns, says Norway fund chief economist
Ethical investment is ‘consistent with earning good returns' and suits a long-term strategy, but there is no evidence linking higher returns with avoiding unethical sectors
BoE exec calls for enough GLAC to restore capital level above minimum
Banks that have undergone resolution ‘likely to need at least as much capital as other banks in the market' to command market confidence
People: Sri Lanka and Nigeria add new monetary policy-makers; and more
Sri Lanka appoints secretary to the monetary board; professor joins Central Bank of Nigeria's monetary policy committee; New York Fed announces 51 new appointments
Banxico deputy says capital controls 'multilaterally detrimental'
Manuel Ramos-Francia says EMs that have implemented capital controls to stem capital flows have ‘deflected' them towards other economies, creating political tension
Serbia central bank takes aim at food price volatility to bring inflation in line
Agricultural commodity price volatility accounted for more than two-thirds of headline inflation volatility in 2013, the central bank says, leading it to seek measures to combat it
New Zealand SWF to invest in catastrophe reinsurance
Catastrophe insurance's strong liquidity and cyclical nature makes it a good fit for New Zealand sovereign wealth fund, investment strategist tells Central Banking conference
ECB data stolen in blackmail attempt
Hackers raid ECB database that contains around 20,000 email addresses of people who have registered for its events; security breach did not impact internal systems
Menon: ‘Too early’ to ease macro-prudential policies
Managing director says there are ‘some indications’ the property market is cooling down, but remains concerned by high prices and household debt
Riyad Bank deputy named Saudi vice-governor
Abdulaziz Saleh Al-Furaih, previously deputy director of Riyad Bank, joined the Saudi Arabian Monetary Agency this week
Weidmann encourages UK to stay in EU
Deutsche Bundesbank president says the UK and continental Europe are 'more than the sum of their parts' and have both benefited from the European Union
RMB inclusion in SDR would open way for investment by advanced economies
More advanced-economy central banks would join Swiss National Bank and invest in onshore renminbi assets if the currency was included in SDR
Nigerian central bank welcomes drop in depletion of foreign reserves
Communique says reserves accumulation must improve to provide buffer for fiscal operations, in part by greater domestic production of foodstuffs
IMF calls on Fed to formally explain policy normalisation strategy
IMF stresses need for 'greater clarity' on how Fed intends to exit accommodative policy stance; warns use of Fed funds rate could 'pose challenge' amid balance sheet reduction
Bank of England 'edges closer' to rate rise
Mark Carney notes ‘quickest job creation on record' since he took office last July amid confusing labour data; market practitioners say likelihood of a rate hike this year is rising
Cœuré spells out difficulties of global monetary policy co-ordination
European Central Bank’s Benoît Cœuré says he is 'not convinced' the existing approach to co-ordination should be overhauled; rejects feasibility of a 'global planner'
Bulgarian governor offers to step down
Ivan Iskrov says he will resign ‘immediately’ if parliament sets a date for picking his successor; attacks politicians for using the central bank as a ‘plaything’ in their election campaigns
Shirai calls for mechanisms to manage policy conflict
BoJ policy board member says monetary and macro-prudential policies are not necessarily complementary; some Japanese officials view reverse repos as a macro-pru tool
Ireland names new chief economist
Gabriel Fagan leaves ECB to join Central Bank of Ireland; succeeds Lars Frisell, who now lectures in the IMF Africa Training Institute in Mauritius
RBA deputy hints at renminbi clearing bank and RQFII quota
Philip Lowe reveals that Australia should get a designated clearing bank ‘in the coming months’ and hopes to obtain a quota for investment in mainland China shortly after
Philippines should divert reserves to form a SWF, says BSP’s Medalla
Senior Central Bank of the Philippines official calls for excess reserves to be siphoned off into a new sovereign wealth fund
‘Shadow' Fed funds rate suggests Fed should have loosened more following crisis
Kansas City Fed study says Fed should have been more active in early stage of ‘Great Recession' but also notes policy became ‘considerably' more accommodative over time
IMF staff note: Structural reforms 'more desirable' than nominal wage cuts in Europe
International Monetary Fund staff note says ‘many reforms’ are still needed in deficit countries; highlights benefits of greater fiscal integration in longer term