Articles by Central Banking Newsdesk
Cœuré sets out sovereign debt reform ideas as Weidmann strengthens call to end QE
Two senior eurozone central bankers set out different visions for radical change to the handling of European sovereign debt
Barro and Summers wrestle with productivity puzzle
Veteran economists seek to offer explanations and policy prescriptions for strong employment and weak growth in the US and elsewhere
RBI to force banks to dispense low-denomination notes
Reserve Bank of India says banks must now set a proportion of ATMs to dispense only lower-value notes, after earlier efforts prove inadequate
ECB paper assesses influence of international linkages on length and severity of recession
Credit growth combined with other vulnerabilities is important, authors argue
SBP looked to boost staffing and IT capabilities in past year
Annual report details HR, IT and cyber initiatives as part of broader effort to build capacity
ECB’s economic bulletin paints mixed picture of eurozone investment
Business investment recovering overall but several factors may limit further growth, ECB says
Central Bank of Egypt devalues currency
Egyptian pound falls 32% as central bank moves to align official and black market rates; IMF mission chief welcomes additional exchange rate flexibility
More research needed on exchange rate pass-through, ECB article says
Research on effects of different shocks on inflation “still in an incipient phase”
Central clearing boosts welfare but margin matters – RBA paper
Study shows how central counterparties boost welfare by insuring against counterparty credit risk, but gains are sensitive to the level of margin
Netherlands paper looks at market reaction to Fed forecasts
Implied forecasts of inflation affect market expectations, paper finds
East Africa inches closer to monetary union
Progress report indicates some reform but many remaining issues; IMF officials flag problem areas and offer advice on shape of financial stability authorities
Riksbank paper shows importance of modelling bank costs
Models should not assume financial intermediation is free, authors say, showing banks can reduce aggregate welfare in some cases
EBA recommends changing basis of resolution finance
“Crucial” that new measure reflect ability to call on funds in case of resolution crisis, EBA says; new measure should be based on total liabilities
Oil price rises and US GDP growth have ‘complex relationship’ – paper
Paper studies interaction of oil price and economic growth in US from 1875 to 2016
Malaysia has work to do to improve renminbi hub status – assistant governor
Adnan Zaylani Mohamad Zahid says deepening Malaysian renminbi markets is a priority, and the central bank has plans to offer support
Carney to be grilled on exit timing
MPs plan to question Mark Carney on how, for a second time, he has managed to circumvent UK law designed to fix the length of a Bank of England governor’s term
Serbia lowers inflation target for next two years
Inflation has been “close to or below” lower bound of official target rate for over two years; tightening follows decades of major inflation
Egypt PM signals move to unify exchange rates
Sherif Ismail tells parliament central bank will soon unify black-market and official rates; IMF moving closer to agreement on funding
BoJ pushes back forecast of 2% inflation
Central bank admits it will take longer than previously expected to hit 2%, as it keeps monetary policy on hold
Payments changing fast but cash still in demand – Riksbank survey
Telephone survey finds cash use declining and mobile payments on the rise, though demand for paper money not likely to disappear any time soon
Carney will remain at BoE until 2019
BoE governor chooses to extend term at central bank an additional year amid intense speculation as to his future, though he stops short of a full eight years
Brexit may not lead to ‘new dominant location’ for European finance – Irish governor
Regulatory considerations should not drive firms’ location decisions, Lane argues
Obstacles may worsen for Russian and Turkish financial reformers, Italian paper says
Reforms in both countries left key problems unaddressed, researchers say
‘Overoptimism’ a factor in house price bubbles, Danish paper finds
Authors highlight how sentiment can become “decoupled” from economic fundamentals under certain circumstances