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
BoE lifts lid on Scottish independence contingency plan
Plan warned of ‘potential instability’ from use of pound north of the border; central bank prepared emergency liquidity and clear communication strategy in run up to vote
Central bank independence key focus of Brazilian elections
With the central bank’s autonomy a hot topic in the build-up to this weekend’s presidential elections, specialists are divided on the benefits of greater independence
BoE's Fisher underlines need for co-ordination between top committees
PRA deputy head says choices of one committee ‘will affect the choices of the others' and a common understanding of the economy is vital
Prosecutors drop investigation into controversial comments by National Bank of Poland governor
Marek Belka did not break the law when calling for finance minister's removal in leaked recording
Central Bank of Libya governor reportedly deposed
Saddek Elkaber is replaced in 94–8 parliamentary 'vote' amid ‘controversy over financial transfers', reports state news agency; deputy Ali Elhebri assumes governorship on temporary basis
Carney: shortfall in reserves likely for independent Scotland
Division of UK reserves on GDP basis would leave Scots with 10% buffer, less than half what is generally considered sufficient ‘to ensure credit flows freely and effectively', according to BoE governor
Bank of Israel urges government to keep its fiscal discipline
Central bank, which cut interest rates to lowest level ever on Monday, warns exceeding deficit target could hurt country's fiscal credibility
Bulgarian governor offers to step down
Ivan Iskrov says he will resign ‘immediately’ if parliament sets a date for picking his successor; attacks politicians for using the central bank as a ‘plaything’ in their election campaigns
Yellen tells Congress Fed is ‘most transparent in the world'
Fed chair Janet Yellen faces Congressman who wants to enforce rules-based monetary policy, telling him it would compromise central bank independence
Trinidad governor threatens senator with legal action over ‘defamatory' comments
Jwala Rambarran takes action over claims he is ‘playing dolly house' with foreign reserves; says he will seek ‘substantial damages' unless public apology is issued
Central Bank of Turkey cuts main rate as MPC sees inflation in decline
Bank lowers one-week repo rate by 75bp to 8.75%, its second consecutive rate cut, but says it is maintaining a ‘tight policy stance'
Nigeria's ousted governor makes transition to Muslim 'spiritual leader'
Sanusi Lamido Sanusi was appointed emir of Kano, a northern Nigerian state, on Sunday; influential post could make Sanusi a source of ‘frustration' for president, says analyst