Independence
Rajan debunks central banking myths in final address
Outgoing governor completes valedictory tour with a cross-examination of the contradictory demands on the RBI, restating the value of central bank independence
Overhaul of Federal Reserve structure is needed, paper says
Former adviser to Bernanke co-authors paper stressing need to end private control of 12 regional Fed banks; diversity and transparency need improvement, authors argue
Goldfajn faces independence test
Ilan Goldfajn has abundant technical skills required to run Brazil's central bank. But he could face similar political pressures as his predecessor at a troubled time for the Brazilian economy.
Central banks must better manage tensions over their autonomy
Kingsley Moghalu says emerging market central banks need to strike a difficult balance between autonomy and legitimacy – but the government must play a role as well
Parliament keeps door open to monetary financing in Ghana
Parliament approves bill that removes government representative from central bank board, but government would still be able to borrow from central bank to finance deficit; IMF to discuss implications
Governments should look beyond criticism and protect central bank independence – Rajan
Governor of the RBI says institutions are used to criticism in line of work, but should still have ability to adopt whichever policies are needed
Orphanides: governments should rein in ‘immense power’ of central banks
Central bank balance sheets give them power to dramatically affect the distribution of wealth, undermining democracy, former Central Bank of Cyprus governor argues
IMF staff call for greater Pakistan central bank autonomy
Significant progress made but further effort regarding legal amendments still needed, IMF report says; State Bank of Pakistan working on legislative action plan while executive orders fill gap
UK must ensure there is no Mark Carney exit
Calls for Bank of England governor to step down must be resisted – Mark Carney represents a vital source of stability at a time of heightened uncertainty for the UK
Carney and MPC members defend independence
Mark Carney warns vote to leave EU could result in technical recession, defends decisions to comment on referendum; Broadbent, Vlieghe and Weale assert independence
FCA chairman defends selection process for new chief
Griffith-Jones questioned on the decision not to interview Andrew Bailey before his appointment as chief executive; says he would have raised any concerns about process with Osborne
Carney locks horns with MPs on EU stance
Bank of England maintains neutral stance on the issue, despite coming under fire from members of the committee; Carney and Cunliffe defend independence
Central banks struggling to exit ‘confused period’, economists say
The financial crisis forced a regime change on central banks, raising challenges to independence, analysis and policy tools, which have yet to be fully resolved, say panellists in Brussels
Ex-governor calls for tighter cap on government borrowing from Malawi central bank
Former governor campaigns for greater operational independence of the Reserve Bank of Malawi and further protection against fiscal dominance
Lawmakers eye Fed surplus funds as source of cash
Late amendment to ‘highway bill’ sees the House of Representatives vote to raid the reserve banks’ surplus funds instead of cutting the dividend paid to member banks
Fischer defends Fed independence
Attempts to make the FOMC adopt a policy rule and 'audit’ its decisions would restrict the Fed’s independence without generating much benefit, Stanley Fischer argues
IMF paper warns against ‘overburdening’ LatAm central banks
Working paper studies evolution of central banks in Latin America, and warns against jeopardising the credibility they currently enjoy by handing them new mandates
ECB concerned by plans for Slovenian central bank law
The institution, led by Mario Draghi, voices concern over draft amendments that would give the national assembly powers to fire board members and their impact on ‘personal independence’
Are central banks the ‘Figaro’ of the financial markets?
Central banks continue to play a vital position in the functioning of markets. While this raises significant concerns about moral hazard it is not an unfamiliar role from an historical perspective
FSB: Bank of Russia's financial stability mandate unclear
Peer review calls for 'adequate' legal basis to impose macro-prudential measures; warns mandate of separate advisory body 'seems to duplicate' that of central bank
Former Sri Lankan governor's passport seized by anti-bribery commission
Ajith Nivard Cabraal, who stepped down on January 9, is ‘prevented from leaving the country' as government cracks down on ‘corruption' under former administration
Sri Lanka governor tenders resignation after new president sworn in
Ajith Nivard Cabraal announces wish to step down midway through term following ‘shock' elections; deputy says reason is to avoid 'conflicts' with finance ministry
Central Bank of Brazil hikes rates following knife-edge election
Split MPC raises Selic rate to 11.25% in surprise decision amid ‘less favourable' inflation outlook; ‘sign inflation may be given greater priority' by re-elected government, analyst says
Riksbank gets new general council
Sweden's parliament names a new general council - the body is composed of MPs and tasked with overseeing the governance of the central bank