Official Record
Bank of Portugal initiated administrative proceedings against 25 banks in 2014
Bank of Portugal also concluded 27 administrative offence proceedings during last year, applying fines worth around €0.5 million
Singapore inflation to ease before rising at end of 2015
CPI inflation could be negative on a year-on-year basis for consecutive months, which MAS says reflects ‘falling car prices, housing rentals, and costs of oil-related items’
Bank of Finland shuffles board responsibilities
Under new set-up, Erkki Liikanen is responsible for monetary policy preparation, domestic economic policy, financial market issues and external communications
Cross-border claims end upward rise, BIS data shows
Latest international banking statistics show global cross-border claims in slight decline after three consecutive quarters on the rise; claims on non-banks rise strongly however
‘Severe’ risks around lifting capital controls, Icelandic report warns
Financial stability report highlights need for careful preparation before capital controls can be lifted; governor says most expected capital movements have been ‘well mapped out’
Growth in banknote circulation drops in Namibia after ATM mandate
Annual report shows central bank mandated banks to re-calibrate their ATMs to better balance the dispense of banknotes to the market, lowering the rate of banknote issuance
Research department split at Central Bank of Malta
Annual report reveals separation of economic forecasts and quantitative research into separate departments, as governor looks to boost capacity
Bank of Canada sees 'front-loaded' oil price effects
Latest monetary policy report estimates Canadian economy was stagnant in first quarter as negative effects from lower oil prices hit earlier than expected; forecasts rebound in coming months
BoE’s FPC flags climate change financial stability risks
Financial policy committee divides issue into physical risks and transitional risks, seeing some potential for instability from climate change but calling for further research
Riksbank sees payments challenges ahead
Annual report notes growing interest in digital forms of payment is leading to declining income from seigniorage; new banknote series to enter circulation in 2015
Counterfeiting rate ‘extremely low’ for Canadian polymer notes
Bank of Canada’s polymer series now comprises 75% of the banknotes in circulation, and is subject to a counterfeiting rate of just 0.56 parts per million
Central Bank of Iceland hails successful year
Annual report for 2014 shows inflation fell, central bank introduced prudential measures in preparation for capital account liberalisation, and profits returned to positive figures
SNB plans renminbi purchases in 2015
Central bank plans to add renminbi bonds to reserves after signing swap agreement with the People’s Bank of China in 2014; annual report reveals return of 8% across currency reserves
Danish annual report highlights move into equities
National Bank of Denmark implemented new investment strategy in 2014, adding riskier assets including equities and lower-rated government bonds to reserves
BoE minutes highlight risks from sterling strength
MPC members raise concerns over divergence of monetary policy and the resulting strength of the UK’s currency, which has the potential to hold inflation lower for longer
Bank of Israel studies economic damage from conflict
Latest hostilities between Israel and Palestine cost the Israeli economy around 0.3% of GDP, with effects stemming from falling tourism and lower consumption, annual report finds
Norges Bank faces ‘ripple effects’ from oil price collapse
Norway heading in opposite direction to generally favourable global trend, central bank’s annual report warns; banking sector profitable and resilient nonetheless
Bank of Uganda explains currency dynamics
Central bank attributes depreciation of the shilling against the dollar to both the strengthening of the US currency and the increase in demand for the greenback to fund imports and pay dividends
Central Bank of Brazil sees inflation gathering pace
Progress made in the fight against inflation is not yet ‘sufficient’, according to minutes from monetary policy committee meeting last week
Riksbank board uncertain about negative rate limits
Minutes from executive board meeting that led to negative rates and quantitative easing reveal uncertainty about where floor for repo rate might be
BoE’s MPC members diverge on interest rate outlook
Only common ground between committee members is rates likely to rise ‘over the next three years’, as some see the potential for further easing while others want rate hike soon, minutes show
Bank of Canada will only lend renminbi as ‘last resort’
The central bank’s financial markets chief says it is up to banks to manage their renminbi liquidity needs, including in ‘stressed circumstances’
Bundesbank says German recovery is faster than expected
Monthly report highlights ‘remarkable’ rebound of German economy, leading forecasts to be revised upwards; oil and euro depreciation behind the boost
PBoC report reveals extent of liquidity interventions
Quarterly monetary policy report reveals massive injections of liquidity to support the money supply as outward capital flows continue to accelerate