Articles by Central Banking Newsdesk
BoE report details ‘innovative’ liquidity insurance tool
Indexed long-term repos were introduced as part of liquidity facility upgrades after the global financial crisis, and are designed to automatically adjust to stress
Eurozone recovery set to broaden, says ECB bulletin
Report presents growing body of good news for most eurozone economies as wages and consumption rise, inflation bottoms out and investment begins to return
Norway moves policy tools in opposite directions
Norges Bank cuts rates to tackle economic slowdown but government imposes higher countercyclical capital buffer as financial stability indicators show signs of danger
US Treasury: woman will appear on new $10 banknote
More than a century after Martha Washington was featured on a $1 note, Treasury secretary Jack Lew announces he will pick another woman to feature on the $10 note
Fed officials still back 2015 rate hike
Median of latest projections suggests federal funds rate will reach 0.625% by the end of the year; FOMC delivers more upbeat assessment as its keeps policy unchanged
Jordan: SNB does not expect ‘sustained’ price drop
Thomas Jordan says the Swiss central bank does not expect a deflationary spiral as inflation will return to ‘positive territory’ early in 2017
Nabiullina: Bringing down inflation still Bank of Russia’s main concern
Central bank governor tells parliament that inflation is still the ‘priority task’ despite announcing plans to rebuild forex reserves earlier in the month
Irish banks have returned to profitability but still need repairs, report finds
Central Bank of Ireland’s macro-financial review notes improvements in the banking sector, but high levels of non-performing loans are holding them back
Norges Bank research reverse-engineers model of US housing crashes
Researchers test a variety of models for their fit with evidence on US housing booms and busts, finding formation of household expectations by moving average performs best
Bank of England's Rule says reigniting securitisation market will take time
Executive director cautions against rushing to restart securitisation market, as a return to pre-crisis ‘fragile’ market would be counterproductive
New Zealand paper calls for clearer financial stability aims
Researchers argue more guidance is needed on how and when macro-prudential policy will be used, pointing to the lack of hierarchy between distortions
Bank of Greece foresees ‘uncontrollable crisis’ if talks fail
Central bank weighs in with bleak prognosis for life without the euro as talks go to the wire; next Eurogroup meeting on June 18 offers last chance
ECB’s Mersch dismisses concerns over T2S launch at weekend
ECB executive board member admits a few bugs remain in Target2 Securities system, but argues they are not major and will not interrupt this weekend’s migration
Ireland to phase out one- and two-cent coins
Central bank will lead project that will see cash payments rounded to discourage use of low-value coins; decision follows successful trial in 2013
BoE staff costs rose 6% in 2015, annual report shows
Growing number of senior staff added to central bank’s wage bill for the year; Mark Carney turned down pay rises but still received package worth nearly $1.4 million
RBA minutes note mixed signals for policy
Slight slowdown globally and nervousness over Greece and US rates offset by ‘solid’ lending growth, stronger employment and improved sentiment
Overconfident forecasters may be ‘overrepresented’ in ECB survey
Working paper finds participation in the Survey of Professional Forecasters drops when uncertainty rises, suggesting the results may be biased
EU court rules OMTs are legal
ECB is vindicated as ECJ rules in favour of crisis measure that would see the central bank buy potentially unlimited amounts of sovereign debt to protect ‘singleness’ of monetary policy
RBA’s Kent says transmission mechanism seems to be weathering shocks
‘Headwinds’ are working against the Australian economy but the evidence implies the monetary transmission mechanism ‘is about as effective as usual’, assistant governor says
IMF's Blanchard urges compromise in Greek negotiations
Both sides need to make tough choices but more funding and some form of debt relief necessary, says IMF chief economist; Mario Draghi emphasises need for long-term EU institutional change
Draghi defends ‘distributional consequences’ of QE
ECB president suggests easy monetary policy will benefit all citizens in the longer run; economists describe impact on inequality as “ambiguous” in research prepared for Econ Committee
Bank of Russia cuts key rate and moves to replenish foreign exchange reserves
Central bank continues easing cycle with 100bp cut, while stronger ruble gives room to replenish reserves
Governor wants freer thinking at 65-year-old Bank of Korea
Juyeol Lee hints at coming shake-up, calling for openness to ‘creative ideas’ as central bank prepares to set new inflation target
BoE minutes help markets shape expectations, paper finds
Working paper published by ECB finds markets make use of minutes when forming short-term expectations, but relationship breaks down over longer horizons