Articles by Central Banking Newsdesk
BIS paper explores effects of global factors on inflation
Authors find impact of global factors is mainly temporary, but the effects appear more significant for countries without long-established inflation targets
HKMA launches consultation on open API framework
Open API enables personalised services for bank users but requires access to customer data
NBIM eyes private equity investment in potential shake-up
Letter to finance ministry says the fund’s structure and goals make unlisted equities a wise investment, but acknowledges a 4% cap would be sensible
Central bank projections of target variables most influential - paper
Paper examines the impact of central bank forecasts and forward guidance on private sector projections, concluding most firms use them primarily as monetary policy indicators
ECB policymakers see a robust economic recovery – minutes
Rate setters satisfied with the impact of the QE extension decided in October
Fed economists tackle question of optimal balance sheet size
Cutting balance sheet would significantly reduce interest rate risk, economists find, as Fed acknowledges lower profits due to interest payments
IMF’s Obstfeld: effects of accommodative policy remain unclear
The IMF chief economist weighs up the productivity puzzle and whether monetary policy helped or hindered growth following the financial crisis
Angola drops dollar for euro in new exchange rate regime
Kwanza depreciates 11.5% against the dollar following regime change
Riksbank closer to tightening policy, governor Ingves says
Minutes show disagreements over future policy among policymakers
Irish central bank asks for criminal offence for recklessness
Personal responsibility for senior individuals should be based on UK model, says regulator
Fall in hours worked can flatten Phillips curve, Italian paper says
Changes to “intensive margin of labour utilisation” may make inflation less responsive to employment
Macroeconomics suffers from blind spot, says Borio
Misallocated resources can explain a large part of recent productivity slowdowns, but thinking in aggregate terms obscures this, says BIS economist
Bank of Lithuania set to board the blockchain
Central bank in the process of creating blockchain-specific sandbox that will grant firms access to its own platform, LBChain; hoping to launch in 2019
People: Peru’s Velarde bags BIS job; Belsham gets second term on BoE committee
People: Peruvian governor succeeds Poloz as Council for the America’s chair; David Belsham gets second term at Prudential Regulation Committee; and more
ECB dumps Steinhoff stock
Losses on holding in scandal-hit retailer may have been approximately €50 million
Low rates push investors to seek risk abroad – BIS paper
Authors find that low rates at home drive risk-taking overseas and the effect accelerates as rates approach zero
Financial initiatives may bypass people with lower financial literacy, paper says
Reforms in Israel designed to benefit the whole population did not reach some groups
Bernanke says Fed likely to review policy framework
Former Fed chair says analysis on change to inflation targeting is likely; panel of experts presents wide range of views on what any change should be
Central Bank of Brazil survey shows poor savings habits
More than half of respondents had no spare earnings over past year to put aside, which could put them at risk if “unforeseen expenses” arise
Fed could use rates to counter instability – Mester
2015 exercise showed major problems in use of macro-prudential tools, says Cleveland Fed chief
First Romanian policy hike in a decade
Central bank hikes policy rate for the first time since 2008, as inflation exceeds forecasts
‘Decisive’ action needed to deflate China’s credit boom – IMF paper
Lack of reliance on foreign financing, low government debt, and state control help to mitigate effects of credit boom, but buffers should not be relied upon in the long run
BIS paper asks what makes emerging market banks profitable
Both bank-specific and economy-wide factors affect banks’ profitability, authors find
Veteran economists weigh in on ‘rebuilding’ macro theory
Economists including Olivier Blanchard, Andy Haldane and Simon Wren-Lewis tackle the question of how – and whether – to save the DSGE model