Articles by Central Banking Newsdesk
People: Ireland appoints first female deputy governor; Sri Lanka also names deputy
Irish central bank appoints first female deputy governor; Sri Lanka appoints deputy; change in leadership at Chinese foreign exchange regulator; and more
RBNZ holds but hints at future easing as outlook worsens
New Zealand dollar reaches four-month low as Reserve Bank of New Zealand hints at prolonged inflation battle
Parliamentary enquiry criticises Irish central bank
The Central Bank of Ireland failed to address issues in the country’s banking sector with its ‘light touch’ regulation, an Irish parliamentary report finds
ECB’s Cœuré: European Fiscal Board can play key role
The newly created European Fiscal Board, as well as independent fiscal councils in eurozone nations, can make ‘decisive contributions’ to policy, Benoît Cœuré says
Future Fund shifts from equities to cash and achieves above-target return in 2015
Australia’s sovereign wealth fund, the Future Fund, shifted from equities to cash to reduce its risk exposure, senior management say; yearly returns were above target
Andrew Bailey agrees to lead FCA
PRA chief executive accepts top job at UK’s other financial regulator after being asked to take the role, but may not make the move for some months
National Bank of Belgium closes scientific library
The National Bank of Belgium will close its research library in Brussels in March; diminished need for the facility due to more widespread access to electronic resources, bank says
Carney says supervisors must improve understanding of electronic trading
BoE officials say work is progressing on understanding the risks and impact on ‘system dynamics’ caused by rise of electronic trading, but emphasise it is not all bad
Research analyses Irish banks’ connections to global financial system
An article in the latest Central Bank of Ireland quarterly bulletin maps the networks formed by Irish banks’ connections to each other and to the global financial system
Turkish inflation seen returning to 5% in 2018
Latest projections from the Central Bank of the Republic of Turkey suggest headline inflation will only return to target in 2018, after it overshot October forecasts, rising to 8.8%
Kansas Fed researchers bridge gap between forward guidance data and theory
Working paper identifies empirical effects of guidance at the zero lower bound, before finding a standard model of price rigidity largely replicates the results
Cyprus on track to complete programme by March, finance minister tells MEPs
Cyprus will continue with fiscal discipline and market-orientated reforms once adjustment programme ends, finance minister tells European parliament; rejects ‘tax haven’ claims
Policy interactions may drive global banking contraction, BoE economists find
The combination of unconventional monetary policy and regulation may cause ‘substantial’ spillovers as banks cut cross-border lending, economists including Kristin Forbes find
South Korea’s new SWF chief sets sights on ‘top ten’
Former World Bank executive director takes office as CEO of the Korea Investment Corporation; sets out desire to grow assets under management beyond $200 billion
BIS paper says trade finance impacts global spillovers
Working paper emphasises importance of including trade finance when modelling global shocks, finding variations in price stickiness are important
Reserve accumulation can be inflationary, ECB paper says
Working paper examines the allocation of special drawing rights in 2009 to separate out the inflationary effects stemming from an increase in the monetary base and moral hazard
Banque de France governor wants public reforms
France must cut its public debt and reform its labour market, says Francois Villeroy de Galhau; the governor also calls for new investment products
ECB’s Cœuré calls for new attitude to liquidity
Liquidity in the European banking system should not return to its pre-crisis levels, Benoît Cœuré tells a Davos audience; CMU offers chance to fix problems which caused crisis, he adds
Weidmann says clearer liability would strengthen eurozone
Bundesbank chief says important element of fixing the eurozone’s ills is reinstating the ‘principle of liability’, instead of resorting to bailouts
New Bank Negara Malaysia website gets ‘trial run’
Malaysian central bank launches new website for a trial period, before it becomes fully operational by end of March; existing site will remain functional in the interim
BoE’s Weale sees shorter working week adding to inflation
Various measures suggest UK workers will gradually cut back on the number of hours they work over the next few years, adding to unit labour costs, external MPC member says
Issing says eurozone status quo is in danger
Former ECB board member says Europe’s monetary union is still plagued by problems caused by absence of political integration, which could pull the eurozone apart
ECB will 'review and possibly reconsider’ stance in March
ECB policy rates and asset-purchase programme remain unchanged, but Draghi says council was ‘unanimous’ in agreeing it should announce March review
BIS stats show further retreat in global banking flows
Falling claims on China drive bulk of overall reduction in cross-border claims, but pace of decline slows compared with previous quarter