Organisation
RBNZ plans update to monetary policy and prudential regulation
Changes are among several priorities outlined in 2018–21 statement of intent
Report proposes mandating BoE to target productivity growth
UK opposition says BoE should not have to rely on interest rates to lower inflation; 3% productivity target would help push prices down, report says
Philippines central bank launches reorganisation
The effort will take 12 months to complete and includes the creation of new functions
Staff begin return to RBNZ HQ after asbestos scare
Central bank has been in “business continuity mode” but some staff have now returned
Bank of Uganda governor hits back at mismanagement claims
Central bank and government ombudsman are locked in conflict over a staff reshuffle
Fed’s Harker: diversity and inclusion ‘are not add-ons’
Philadelphia Fed president stresses commitment to ethnic and gender diversity in a report to Congress
South Africa’s ‘twin peaks’ regulatory model goes live
Sarb takes control of prudential regulation and new conduct regulator opens its doors
Bank of Canada building systems back-up outside Ottawa – annual report
Cyber risk is becoming “a top priority”, Poloz says
Incoming RBNZ governor signs deal on new mandate
Agreement establishes dual mandate in the birthplace of inflation targeting; government reveals more details on changes to decision-making structure
‘Tilting’ building forces Seychelles central bank tenants to relocate
Central bank annex shows signs of “tilting” due to construction work nearby; tenants asked to immediately relocate
CNB ramps up financial stability department role
Central bank “elevates” the department in its governance structure to reflect its growing importance; hikes countercyclical buffer amid lending boom
Bank of England operations could leave London under Labour government
Report envisages BoE’s regional offices becoming part of national investment strategy; inflation mandate could also be changed
PNG’s Bakani defends board’s overseas travel expenses
Governor crosses swords with predecessor, who claims decision to hold board meeting overseas makes Bakani unfit to lead the central bank
PNG governor stands firm on independence from government
Bakani hits back at claims institution has become a “puppet”, noting his appointment was confirmed after “rigorous scrutiny”
Philip Turner urges RBNZ to focus analysis on ‘new normal’
Former BIS official gives positive review of RBNZ’s monetary policymaking process, but recommends the central bank focus its efforts on understanding changing economic structure
UK audit office praises most of BoE’s ‘One Bank’ strategy
Report says Bank of England has been broadly successful in its transformation, although there have been some delays and changing culture is a long-term challenge
BIS rewrites statutes to boost board diversity
Changes reduce the influence of the BIS’s European directors and could pave way for better representation of emerging markets
‘No evidence’ of criminality in BoE crisis auctions
Bank of England given all clear on question of whether financial crisis liquidity auctions were rigged; central bank has now corrected may of the issues with its liquidity framework
BoE’s Forbes points to bias among overworked MPC members
Senior Bank of England officials are overworked and heavily scrutinised, which may make it harder for them to take tough decisions, Kristin Forbes says in her final speech as an MPC member
Bank of England threatened with strike action over pay
Union members to be balloted on strike after being awarded a “derisory” 1% pay rise; UK inflation currently running at 2.7% and forecast to rise further
Increasing female participation in workforce will help US growth – Yellen
Fed chair examines barriers women still face when entering the workforce; increasing participation rate could help increase US output by 5%
Central Bank of Malta restructuring probably complete
The institution is moving from five directorates to six divisions; latest changes see statistics department partnered with financial stability as overlaps between them increase
SNB able to cut rates further, Jordan says
Thomas Jordan says Switzerland’s central bank could lower its deposit rate further into negative territory or buy foreign currency if necessary; Jean Studer defends governing board size
‘Our independence is under threat’ – Yellen
Fed chair cites two legislative bills that could significantly harm the central bank’s ability to make independent monetary policy decisions; US economy is being allowed to “coast”