Independence
Governor of the year: Alejandro Díaz de León
Díaz de León has upheld the authority, integrity and independence of the Bank of Mexico against significant external and internal pressures
Ecuadorian politicians clash over central bank independence
IMF backs law to make central bank independent, but leftwing candidate condemns measure
SNB profit drops by nearly 60%
Swiss central bank records much smaller profits on foreign currency positions
Mário Centeno on monetary-fiscal interaction in the eurozone
Bank of Portugal governor says ECB is not being overrun by former finance ministers, must improve the definition of its inflation target and has no need for yield curve control. Centeno believes NextGenerationEU fund could serve as template for a future…
Bank Indonesia resumes monetary easing
Central bank commits to further government bond purchases on the primary market
The Covid crisis, central banks and the future
Crisis responses have had positive initial outcomes, but also exacerbated significant underlying challenges that raise concerns related to exit strategies and the future for central banks
Mexican central bank board cuts policy rate
Rate-setting board unanimously votes for looser policies despite above-target inflation
Brazilian congress passes central bank autonomy law
Law gives CBB autonomy and sets renewable four-year terms for governor and MPC members
Colombian president sparks controversy with central bank appointments
Opposition senator claims choice of board members shows nepotism and state capture
European central bankers see room for fiscal-monetary co-operation
Pandemic showed it was “critical” for both policies to work together, say central bank governors
Bailey defends BoE’s independence
Claims that buying government debt threatens independence are “entirely without merit”, governor says
Mexican president seems to make U-turn on central bank law
Bank of Mexico says draft cash law would endanger its independence
SNB expects $23.5 billion profit in 2020
Profits on foreign currency positions account for $14.6 billion
Lower Mexican inflation raises chances of rate cuts
Third official nominated by president due to join rate-setting body at next meeting
Hernández de Cos on ECB policy, crises responses and Basel reform
Spanish governor and Basel Committee chair Pablo Hernández de Cos favours a form of average inflation targeting, says ECB is willing to boost stimulus and Basel reforms not diminished by Covid-19 exceptions; stresses the need for structural reform and…
US Congress strikes stimulus deal with weaker curbs on Fed powers
Previous wording would have prevented Fed from ever recreating the ‘Main Street’ programme
Republican lawmakers seek curbs on Fed’s emergency facilities
Treasury backs lawmakers in bid to insert wording to bar Fed from restarting Covid loan programmes
Monetary unions in the making in Africa
EAC, Ecowas and SADC can adopt practical steps learned from EMU to prepare for their own currency unions
Bank of Mexico sounds alarm over draft law
Central bank says law could damage its independence and create money-laundering risk
Ingves: Riksbank must have flexibility to develop new policy tools
Governor warns inquiry into central bank “clings” to an outdated view of economics
Tangen to permanently divest from AKO fund in January 2021
Norges Bank unveils final contract with SWF’s new chief executive
Brazil central bank could ‘test’ lower rates if inflation remains weak – IMF
IMF staff see “no constraint” to lower rates as long as forward guidance is deployed
Is the RBI doomed to fail its ‘quest for financial stability’?
Covid-19 has set back progress on hard-won reforms. As the economy struggles to recover, the RBI and government must walk a treacherous path back to safety
ECB’s asset buying should drop ‘market neutrality’ – Rehn
Finnish governor says ECB should adopt green principles, but Bundesbank’s Weidmann is opposed