Central Banks

  • 2015-05-01 15:45


    By Steven K. Beckner

    ORANGE, Calif. (MNI) - San Francisco Federal Reserve Bank President John Williams defended the Fed's monetary policy discretion and warned that congressional imposition of a monetary policy rule could overly restrict the U.S.

  • 2015-05-01 07:18


    - Irish FinMin says Will Start Process Of Seeking Replacement

    LONDON (MNI) - Bank of Ireland Governor Patrick Honanhon announced Friday that he will step down early from his 7-year term at the central bank.

    Honohan will retire by the end of the year, the central bank has confirmed, ahead of the end of his seven year term, set for September 2016.

    Speaking following Mr Honohan's announcement, Minister for Finance Michael Noonan T.D. said:

    "The departure of Professor Honohan marks the end of an era. His clear thinking, leadership and wise counsel helped to steer the country through some of our most difficult times and he has also guided the reform of the Central Bank following the financial crisis.

  • 2015-05-01 04:47


    -Adds Detail To Version Transmitted At 0930 BST -BOE UK Mar house purchase approvals 61,341 vs 61,523 Feb

    LONDON (MNI) - Despite electoral uncertainty, overseas investors bought a record net amount of gilts in March, Bank of England data show.

    Net overseas gilt purchases in March amounted to stg28.2 billion, the highest amount on record. The remainder of the BOE's Bankstats and Money and Credit data, published Friday, showed strong growth in unsecured borrowing and little change in other headline aggregates.

    The overseas gilt purchase data series started back in July 1982 and the previous peak was in September 2008, when purchases hit stg16.5 billion. Net gilt purchases were just stg7.6 billion in February.

  • 2015-05-01 04:30


    -BOE UK Apr house purchase approvals 61,341 vs 61,523 Feb

    LONDON (MNI) - Despite electoral uncertainty, overseas investors bought a record net amount of gilts in March, Bank of England data show.

    Net overseas gilt purchases in March amounted to stg28.2 billion, the highest amount on record. The remainder of the BOE's Bankstats and Money and Credit data, published Friday, showed strong growth in unsecured borrowing and little change in other headline aggregates.

    The overseas gilt purchase data series started back in July 1982 and the previous peak was in September 2008, when purchases hit stg16.5 billion. Net gilt purchases were just stg7.6 billion in February.

  • 2015-05-01 03:57


    TOKYO (MNI) - The Bank of Japan's two-year-old quantitative and qualitative monetary easing has lowered real interest rates measured by the 10-year Japanese government bond yield by 0.9 percentage point, the BOJ said in its Review research paper released Friday.

    "The actual improvement in economic activity and price was largely in line with the (positive growth) mechanism anticipated under QQE," it said but added that other factors also greatly affected Japan's economic performance.

    For instance, the yen's fall and stock market gains have played a much larger role in boosting corporate profits and nominal wages than aggressive easing has done.

  • 2015-04-30 20:12


    --Japan Mar Core CPI +2.2% Y/Y; MNI Median Forecast +2.1%
    --Central Tokyo Apr Core CPI +0.4% Y/Y; MNI Median +0.5%
    --Japan Mar Core CPI Ex-Sales Tax Impact Estimated at +0.2%
    --Japan FY14 Average Core CPI +2.8%; FY13 +0.8%
    --Japan Mar CPI Energy Costs -1.0% Y/Y Vs Feb -2.1%
    --Japan Mar CPI TVs -0.1% Y/Y Vs Feb +0.2%
    --Japan Mar CPI Electronics Goods -1.3% Y/Y Vs Feb -1.5%
    --Japan Mar CPI Food Ex-Perishables +3.8% Y/Y; Feb +3.9%

    TOKYO (MNI) - Japan's consumer price index from the Ministry of Internal Affairs and Communications released Friday. CPI figures date to 1970 under the 2010 base year:

    FACTORS: Japan's core consumer price index (excluding perishables but including energy) rose 2.2% on year in March vs.

  • 2015-04-30 09:00


    By Silvia Marchetti

    ROME (MNI) - The Bank of Italy warned Thursday that the situation in Greece could have "unpredictable consequences" in a delicate moment for the Eurozone economy as it appears to be benefiting from the European Central Bank's non-standard policy measures.

    "The uncertainty surrounding the negotiations between the Greek authorities and European institutions over the completion of the macroeconomic adjustment plan is causing sovereign spreads in the euro area to widen again," the Bank of Italy said in its first twice-yearly Financial Stability Report (FSR).

  • 2015-04-30 08:26


    By Brai Odion-Esene

    WASHINGTON (MNI) - Federal Reserve Board Gov. Daniel Tarullo Thursday said regulators should find ways to significantly reduce compliance costs for community banks, without compromising the stability of the financial system.

    "At an analytic level, we need to be clear that prudential aims vary with the risks posed by diverse groups of banks," Tarullo said in remarks prepared for delivery to an Independent Community Bankers of America conference.

    The risks to the financial system posed by the failure of a very large, universal bank "call for different prudential objectives" from those suitable for a $200 million community bank, he argued.

  • 2015-04-30 04:29


    -- Turnaround In Inflationary Pressures "Slowly Becoming Visible"

    LONDON (MNI) - The European Central Bank said Thursday that long-term inflation expectations have recovered and that a consumer price turnaround is evident in recent economic data aided by a weaker euro exchange rate.

  • 2015-04-30 04:00


    By Martin Baccardax

    LONDON (MNI) - The European Central Bank said Thursday that long-term inflation expectations have recovered and that a consumer price turnaround is evident in recent economic data.

    In a supplement to its regular monthly bulletin, published in Frankfurt, the ECB said that the decline in inflation expectations observed over the past two years has come to a halt, thanks in part to the Bank's non-standard monetary policy measures and its asset purchase programme.

    "The recovery of longer-term inflation expectations in the euro area indicates that both professional forecasters and market participants are now again more confident that inflation will return to a level below, but close to, 2% over the medium term," the report said.

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    --MNI Lond