Articles by Central Banking Newsdesk
Explicit wording sought to jolt market expectations, says Carney
Bank of England governor says committee was unusually explicit ahead of November hike to encourage markets to wake up to its signals
Basel Committee weighs opportunities and risks linked to fintech
Regulators should adapt their policies to new risks while not stifling innovation
UK figures reveal 1.47 million people out of work
While the employment rate has continued to rise, the rate of unemployment has increased by the sharpest level in almost five years
Swedish inflation falls in January as Riksbank considers first hike
The CPI at fixed interest rates fell to 1.7% in January, compared with forecasts of 1.9%
UK’s Treasury Committee publishes contentious report on RBS
Report had been protected under UK confidentiality laws, but parliamentarians chose to publish it regardless; report highlights “widespread inappropriate treatment” of customers
Carney extols value of clarity of thought and communication
Bank of England governor delivers speech on virtues of a good leader
RBI under pressure from alleged banking fraud scandal
Alleged fraudulent transactions uncovered at Punjab National Bank undermine the firm’s capital position; RBI launches investigation into “increasing incidence of frauds”
CPMI flags up need for better cross-border payment options
Current infrastructure offers slow and costly transactions that are hard to track, says Committee on Payments and Market Infrastructures
People: Nominations to BoJ; Moghalu mulls presidential bid
Kuroda nominated for fresh term alongside two deputies; former CBN deputy considers bid for Nigerian presidency; Riksbank deputy reappointed
BIS paper uses ‘shadow rate’ to study market expectations
Fan Dora Xia and Jing Cynthia Wu find they can estimate expectations over a longer horizon by using a shadow rate term structure model
Reserve managers made financial crisis worse for central banks – paper
Synchronised withdrawal of funds from commercial banks made central bank stabilisation efforts “more difficult”, IMF paper says
Algo trading harmed market during Swiss franc crash – paper
Algorithmic traders tended to “consume liquidity and reinforce the price disruption”
NY Fed paper measures global capital flow pressures
The authors’ method allows them to estimate how sensitive countries are to changes in global risk aversion, as well as overcoming problems with capital flow data
Canada effecting a cautious normalisation – deputy governor
Uncertainties related to trade, high debt levels and slower growth may delay new rate hikes
FCA fails to publish contentious report on RBS
Regulator opts to supply parliamentary committee with a confidential version of the report, but lawmakers may publish it anyway
EU should create ‘virtual’ post-Brexit replacement for City of London – Bundesbank official
Future financial centres may not need “physical proximity”, Wuermeling says
Singapore to step up consumer protection on e-payments
Banks must offer users better protection measures, but users could also face fines for recklessness or carelessness
We don’t need cryptocurrencies – former St Louis Fed economist
Current payment infrastructure and physical cash already provide the benefits offered by cryptocurrencies, says Stephen Williamson
FCA to examine feasibility of global regulatory sandbox
UK regulator recommends establishing a “college” of regulators to strengthen co-operation across borders; interested parties have until March to comment
People: Tunisian governor resigns; EFSF appoints chairman
Governor Ayari quits after Tunisian prime minister initiated the process to replace him; EFSF picks new chairman; European Commission proposes new chief for Systemic Risk Board
Sama enables blockchain for cross-border payments
Pilot with Ripple will allow domestic banks to settle payments across the xCurrent network; payments infrastructure based on the Interledger Protocol
Higher inflation in the US pushes up yields
The headline consumer price index rose by 2.1% year on year
BIS’s Carstens sees danger in rapid technological change
General manager says supervisors should ensure the banking system remains resilient amid numerous challenges to traditional business models
Credit constraints hits smaller eurozone firms’ investment – Spanish paper
Researcher finds credit constraints have less impact on working capital and growth