Central Banks
Trichet sees 'conceptual convergence' among major central banks
Former ECB president flags ‘impressive' post-crisis consensus among major central banks over how to handle price and financial stability; says interest rates and QE should be handled separately
Progress of RMB internationalisation ‘spectacular’, says SFC official
Speaking at the FX Week Asia conference, deputy chief executive of Hong Kong regulator highlights the importance of continuing to internationalise China's currency
BoE’s Tucker says big US banks will now be allowed to fail
Paul Tucker says authorities have enough resolution 'technology' in place to resolve almost all systemically important US banks, but more work needs to be done to make the process smoother
Clamour for action on IMF quotas as US continues to stall
Central bank governors and finance ministers unite to urge ratification of IMF quotas reform to boost emerging market representation; Alexandre Tombini tells US to take action
ECB's Asmussen tells G-20 to slim down policy focus
Executive board member argues informal economic forum should concentrate on financial regulatory reform rather than ‘food security and labour issues'; calls for permanent G-20 secretariat
Bank of Italy paper tests monetary and fiscal defences against speculative attack
Researchers devise co-ordination game to assess interaction of monetary and fiscal policy when policy-makers attempt to resist a potential speculative attack
Fed’s Powell insists FOMC communication remains credible
Jerome Powell defends forward guidance on asset purchases after fellow FOMC member Plosser says September decision undermined its credibility; Eric Rosengren lays out communication challenges
RBI sets up mobile banking committee
Committee will examine the possibility of introducing a payment system allowing millions of unbanked Indians to make transfers using their handsets
Haldane dismisses talk of monetary and macro-prudential tensions
Bank of England’s Andrew Haldane says it is a ‘virtue’ that different tools can be used to meet conflicting objectives; backs central banks for macro-prudential responsibilities
Kuroda touts QQE success in Washington
BoJ governor tells Bretton Woods Committee that Japan's aggressive monetary easing policy is ‘exerting its intended effects'
EC's Pearson urges US and European regulators to ‘talk the same language'
European Commission's financial markets head tells US and European regulators to find common ground on the technical details of their reform programmes; Cyril Roux backs greater cooperation
Inclusion begets stability, Bangladesh Bank governor says
Atiur Rahman argues loans to diverse small-sized firms make for lower aggregate credit risk than big loans to ‘a few large borrowers'
Commodity price shocks may unhinge eurozone inflation, ECB article says
Higher and more volatile commodity prices risk rendering conventional forecasts based on futures prices obsolete, with knock-on effects for inflation
BoE and IMF unveil changes in finance and fiscal departments
Bank of England appoints finance director and starts hunt for court of directors chair; IMF director of fiscal affairs stands down; Bank of Namibia assistant governor quits; and more
Big European companies reject third-party reporting for derivatives
Corporates fear they will still pay the penalty if mistakes are made by delegated reporting services
Draghi reframes push for ‘perfect union’ in Europe
ECB chief Mario Draghi says the concept of sovereignty should be considered from the perspective of an individual European, rather than an individual European state
Riksbank paper evaluates inflation conservatism
Researchers consider how the timing of fiscal and monetary policy decision impacts the desirability of strict inflation targeting
Central Bank of Brazil raises rates for fifth time in row
Unanimous vote hikes Selic rate to 9.5% – 2.25 percentage points higher than in April - in effort to combat inflation; Reserve Bank of India, meanwhile, provides financial system with more liquidity
Opposing Fed camps dig heels in on QE
Minutes from the FOMC’s September meeting highlight the deep and persistent divide between its participants; Obama points to Yellen’s ability to build consensus and personal strength
ECB agrees €45 billion bilateral swap line with PBoC
European Central Bank joins a long list of central banks with renminbi swap line with the People’s Bank of China; deal is smaller than some speculated
Higher interest rates would have hurt savers, says ECB's Cœuré
Executive board member says loose monetary policy does not stem from a desire to favour borrowers, but as a necessary response to bring the world economy back to growth and ultimately help savers