Articles by Central Banking Newsdesk
US data can help nowcast Canadian growth, paper finds
Working paper published by Fed board introduces US data into dynamic factor model used for nowcasting the quarterly real GDP growth rate
Aussie dollar drops as RBA cuts inflation outlook
Reserve Bank of Australia cuts forecasts for headline and underlying inflation; lowered its key rate by 25bp to 1.75% earlier this week
People: Nagel leaves Bundesbank; GIC makes string of appointments
Joachim Nagel steps down from Deutsche Bundesbank executive board; Singapore’s sovereign wealth fund creates new posts and fills others; East African Community gets new secretary-general
ECB sees ‘no clear upward trend’ in most inflation metrics
Inflation measures in the eurozone are subdued, the ECB says; several factors are slowing recovery, including balance sheet adjustments, downturn in emerging markets and slow progress on reform
Ugandan deputy calls for caution in forecasting deficits
Louis Kasekende warns inflation could be threatened if governments lose access to the market and are unable to meet their borrowing requirements, turning to the central bank instead
Bundesbank's Dombret draws lessons from European CMU for Asia
As Europe constructs its capital markets union, it could offer relevant lessons for Asian economies as they look to finance infrastructure demand in the region, Bundesbank's Dombret says
Central banks may be at risk after Greek website attacked
Denial-of-service attack takes Bank of Greece website down for several minutes; reports point to hacking group Anonymous, and the potential for other central banks to be targeted
New York Fed official stresses third site capacity for FMIs
Richard Dzina argues systemic FMIs should consider maintaining technologically diverse third site solutions to successfully deal with present cyber challenges
Riksbank minutes highlight effort to protect rising inflation
Executive board members saw potential for krona appreciation as a risk to inflation outlook; broad support for additional asset purchases, but some questions over size
Fed presidents navigate ‘mixed signals’
Dennis Lockhart is putting more weight on positive employment picture than disappointing growth stats; both he and Robert Kaplan see potential for labour force to expand
Swiss franc still ‘significantly overvalued' – Jordan
Chairman of Swiss National Bank governing board says dual policy of negative rates and willingness to intervene in forex market are helping support the economy
Draghi points to savings glut in some eurozone countries
Germany and others are contributing to a global savings glut, Draghi argues; renews call for structural reform and rejects appeals to curtail monetary expansion
Visco wary of changing regulation on sovereign exposures
Italian governor acknowledges sovereign exposures are not risk-free, but questions logic to changing prudential rules
Bank of Canada identifies first ‘prominent' payment system
The Automated Clearing Settlement System is considered "central" to Canadian payments and must now meet risk management standards based on global PFMI
Esma finds CCPs resilient ‘overall’ in first stress test
European Securities and Markets Authority says first annual stress tests show European central counterparties are “overall” well prepared to face “extreme but plausible” market shocks
RBA cuts to 1.75% as data disappoints
Glenn Stevens points to “unexpectedly low” inflation data as the Reserve Bank of Australia cuts its key rate by 25bp; Australian dollar slides following decision
People: Fed appoints new director; Ghana and Uzbekistan add deputies
Matthew Eichner named director of reserve bank operations and payment systems at the Fed board; Bank of Ghana and Central Bank of Uzbekistan name new deputy governors
SNB officials fend off latest ideas for reform
Thomas Jordan and Jean Studer warn of the damage that could be done by proposals including sovereign money, broader mandate and using reserves to create sovereign wealth fund
‘Challenging' year spurs diversification of Hong Kong's exchange fund
HKMA says it is accelerating its process of reserves diversification after it was hit by a "triple whammy" in all major asset classes in 2015
IMF staff weigh options for tackling Chinese NPLs
Technical note authored by three IMF employees considers how securitising NPLs or converting them to equity might work in the Chinese context; latest CBRC figures show the stock is growing
Nonlinear models struggle to outperform VARs, Azerbaijani paper finds
Central bank’s first working paper finds various different nonlinear forecasting models perform poorly against autoregressive and VAR models, and even random walks
RBI plans to regulate nascent P2P market
Central bank proposes bringing peer-to-peer lending within its regulatory remit, fearing lack of oversight might lead the rapidly growing sector to develop “unhealthy practices”
National Bank of Romania flags ‘severe systemic risk’ posed by legislative framework
Central bank publishes first of two financial stability reports due this year, after change in policy; stresses concerns over range of legislative initiatives, including "debt discharge" law
Wheeler says further easing may be needed as RBNZ holds
Wheeler says interest rate cuts could be needed, though the RBNZ kept its key rate at 2.25% today; mixed picture with dairy export prices improving but currency still high