Independence
Mozambique central bank cracks down on AML breaches
A total of $2.6 million in fines is divided among 15 institutions found in breach of legislation; IMF says AML/CFT controls need to be more efficient
Bank of Uganda governor hits back at mismanagement claims
Central bank and government ombudsman are locked in conflict over a staff reshuffle
Gambia’s central bank seeks greater independence as fiscal dominance ends
Central Bank of The Gambia to work on autonomy and data management under new fund programme
Issing sees ‘uncertain future’ for central bank independence
The eurozone architect warns central banks that overreach open themselves to political attack
Bank of Mongolia gains greater independence under new law
Central bank had complained government and politically connected businessmen were too quick to dip into its funds
Fehmi Mehmeti confirmed as Bank of Kosovo governor
Parliament narrowly votes to approve the interim governor for the full-time role
Populism challenges central banking independence, Bruegel says
Brussels-based think-tank gathers various works on the matter; overdue debates on inflation targeting could open
ECB largely supports Commission’s proposals for ESRB
ECB president would become ex officio head of systemic risk body
ANC shelves Sarb nationalisation plan
South African Reserve Bank safe from ownership restructuring for now, as ruling party takes time to consult with other members of the ANC and “key stakeholders”
People: South Korea’s Juyeol Lee nominated for new term
South Korean president nominates Lee for fresh four-year term; SNB’s Wiedmer steps down; State Bank of Vietnam appoints new banking supervisors
Central bankers must leave their ‘ivory towers’ – South African governor
Popular support is needed, says Central Banking’s governor of the year
Latvian police detain central bank governor on corruption charges
Rimšēvičs says charges are totally unfounded
Governor of the year: Lesetja Kganyago
Kganyago has defended and enhanced the Sarb’s reputation as an independent and well-governed institution against all threats – despite a turbulent political and economic backdrop
Delayed restructuring prompts strike action at Central Bank of Cyprus
Cypriot central bank staff strike over lack of communication from senior management on restructuring plans; former governor fears independence is under threat
Goodfriend’s economic views challenged by US senators
Nominee to Fed’s board criticised the dual mandate of low inflation and unemployment in the past
Argentina cuts rates, but keeps focus on inflation
Analysts express concerns over the decision, as inflation remains high
Sarb rejects nationalisation plan
Sarb says nationalising the central bank would increase uncertainty in an already “fragile economic situation”
Experts’ panel appointed for RBNZ mandate review
A panel of three external experts will provide a report to the Minister of Finance; group will hold its first meeting later this month
IMF suggests changes to Mauritian monetary policy framework
Lack of clarity in current framework risks “undermining” the credibility of monetary policy, report says; medium-term inflation target of 3% should be implemented
Slovene governor: draft law would harm bank’s independence
Government’s action is the latest move in its dispute over bank bail-ins
RBNZ cracks down on Westpac over modelling breach
Central bank imposes capital penalty after uncovering failings related to use of internal models
SNB’s Jordan defends central bank independence
In contrast to monetary policy, macro-prudential should also be shaped by government
Doubts emerge over RBNZ mandate plans
Acting governor Spencer says a dual mandate would have little impact, but expresses concern over a committee structure; former RBNZ economists weigh in
No reason why central banks cannot be privatised, economists argue
Central banks may be better equipped to sustain market stability if privately owned, argues Juan Castañeda, with the private sector bailing out failed banks