Articles by Central Banking Newsdesk
EBA survey: Most European banks did not see Brexit as risk
European banks anticipated increasing most kinds of loan activity, results of an EBA questionnaire show; few bankers saw ‘Brexit’ as a major source of risk
Iceland’s new macroeconomic council faces up to wage challenges
Collaboration between government, central bank and labour market groups aims to bring bouts of rapid wage growth under control and better co-ordinate policy
IMF staff suggest using tiers if CNB cuts rates below zero
Fund encourages Czech National Bank to prepare for ‘eventual exit’ from exchange rate commitment; suggests negative rates are viable tool but could damage bank profitability
IMF paper explores impact of financial development on wealth dispersion
Authors focus on China between 1995 and 2002; suggest lower access barriers and a deeper market can “greatly improve” welfare
People: Hungarian board member takes government post; new RBI executive director
Member of Central Bank of Hungary’s monetary council resigns to take government role; RBI chooses new executive director; Icelandic head of financial stability moves to Yale; and more
Balance sheet policy matters for credibility – Norges Bank paper
Researcher argues a central bank’s financial strength may affect its ability to meet its monetary policy mandate, based on evidence from the UK’s gold standard period
Nouy sees need for rethink of reporting systems
Danièle Nouy says new thinking is needed to help banks and supervisors deal with a ‘paradigm shift’ in data collection; European reporting framework for all banks should be considered
Sarb faces tough job amid ‘sobering’ outlook, IMF warns
Capital flows, sovereign rating and financial sector health form dangerous links, fund says, though South African authorities stress they have made preparations
Technical issue affects Fed minutes release
Error in Federal Reserve equipment results in early release in some cases and late in others; minutes show Fed officials grappling with uncertainty amid slowing job growth and UK referendum fallout
US Phillips Curve “not broken” – IMF paper
Working paper finds economic behaviour since the crisis reflects different sources of disturbances, and not a change in the dynamics of the Phillips curve
BoE part-way to meeting Carney’s strategic vision – annual report
Central bank is reshaping its operations to meet ‘One Bank’ plans and comply with its new obligations under the UK’s senior managers regime, annual report says
Fed’s Tarullo looking for more evidence on inflation
Daniel Tarullo wants to see more convincing evidence that inflation is returning to target before tightening monetary policy; headline and core PCE inflation are still below target
Riksbank tweaks forward guidance, citing Brexit uncertainty
Swedish central bank says it will likely only raise the policy rate from the second half of 2017 onwards; highlights “considerable uncertainty” abroad
Policy-makers should base analysis on broad set of monetary aggregates, paper argues
Analysis of the stability of demand for components of monetary aggregates in the eurozone argues against reliance on a single measure, researcher says
Sri Lankan governor stresses integrity in first speech
Indrajit Coomaraswamy suggests his primary responsibility is upholding the central bank’s reputation and credibility; praises “iconic figures” of the past as he takes office
Nigerian regulator overhauls management of major local bank
Nigeria’s central bank enforced a change of management in a domestically systemically important bank due to liquidity and capital adequacy concerns; finance veterans appointed to top roles
Report calls for co-operation in appraising macroprudential tools
Research led by Anne Le Lorier for Basel Committee on the Global Financial System says governance arrangements should promote “wider co-operation”
Swift paper warns not to transplant Kenya’s inclusion strategy
Harvard Kennedy School lecturer explores the factors behind M-Pesa’s success in Kenya, and warns against simply copying the country’s approach to inclusion elsewhere
Korea reveals organisational changes in annual report
Financial markets department established in 2015, alongside divisions dedicated to capital markets, monetary policy research and financial system analysis
QE has mitigated trade shock to eurozone, ECB’s Praet says
ECB's easing has prevented trade shock from reducing eurozone growth rates, Peter Praet argues; "increasing evidence" that negative deposit rates improve QE’s pass-through
Rate delay could deprive Fed of tools in future, warns Mester
Cleveland Fed president says there is a “non-negligible chance” unconventional tools will be deemed as “ultimately ineffective” by the public if the Fed is too slow to normalise policy
HKMA opens office to stimulate infrastructure finance
Infrastructure financing facilitation office will be an “integral part” of the HKMA; designed to bring capital providers and project developers together along the ‘one belt, one road’
People: RBI and Bank Negara Malaysia promote deputies from within
Indian and Malaysian central banks both choose senior officials from within the organisation to fill deputy governor posts; BIS appoints new secretary-general; and more
Sri Lanka appoints new central bank governor
Arjuna Mahendran leaves central bank after enduring a turbulent 18 months; president appoints economist Indrajit Coomaraswamy as his successor