Articles by Central Banking Newsdesk
Prasarn highlights ‘untapped opportunities’ between Thailand and China
Bank of Thailand governor Prasarn Trairatvorakul insists China is still an ‘important engine in support of the growth of the Thai export sector’
Glenn Stevens flags capital market risks
RBA governor says the growing role of asset managers and lower market liquidity are cause for concern; combined with cross-border capital flows, this could trigger an abrupt sell-off
Public to vote on design of €2 commemorative coin
Eurozone residents invited by European Commission to pick one of five designs for a coin marking the 30th anniversary of the EU flag; partly a tool for raising awareness of economic governance
Central banks of Colombia and Peru expect bond impact from Fed rate hike
Even though markets are already anticipating a Fed interest rate hike, it will still have an impact on bond markets and asset prices, the governors of the central banks of Colombia and Peru argue
Stronger dollar will pose challenges for South African economy, says Mminele
"Rising interest rates in the US would have an adverse impact on borrowing costs, while a weaker euro would limit external demand for South African exports,” says Sarb deputy governor
Volcker proposes new regulatory structure with Federal Reserve at its heart
The Volcker Alliance sets out proposals for a new regulatory structure in the US that seeks to address the ‘fragmentation, overlaps and glaring gaps’ in the current system
Bank of Mexico paper warns of EM bond runs
Paper stresses vulnerability in face of Fed lift-off, even with low levels of leverage, noting mechanisms essentially unrelated to degree of leverage can determine financial stability
Kuroda calls for deeper understanding of expectations
Bank of Japan governor wants increased awareness of the mechanism through which inflation expectations are formed to help the design of monetary policy
‘Unbanked’ numbers fall 20%, World Bank study finds
First update to the Global Findex database finds 700 million adults worldwide became new account holders since 2011, but two billion remain without access to basic financial services
PBoC steps up support with reserve ratio cuts
People’s Bank of China cuts the ratio for the second time this year, with observers pointing to pressure on the monetary base from foreign exchange outflows as a motivating factor
Mexican deputy tells EMs to assume US rate hike coming ‘sooner rather than later’
Javier Guzmán Calafell advises emerging markets to prepare ‘as fast as possible for a worst-case scenario’ in anticipation of the Federal Reserve tightening policy later this year
Growth in banknote circulation drops in Namibia after ATM mandate
Annual report shows central bank mandated banks to re-calibrate their ATMs to better balance the dispense of banknotes to the market, lowering the rate of banknote issuance
Praet says onus on governments to ensure permanent recovery
Accommodative monetary policy is ’playing a key role’ in helping return inflation to target, argues Peter Praet, member of the ECB executive board
Portuguese paper analyses crisis impact on union agreements
Bank of Portugal working paper evaluates changes in union agreements since the crisis, finding they have reduced due to ‘downward nominal wage rigidity in deflationary times’
IMF projections may be ‘too pro-cyclical’ warns Vergara
Central Bank of Chile president questions whether a drop in productivity has occurred recently, suggesting potential growth was actually ‘lower than previously thought all along’
Caribbean countries should use fiscal policy to fight exchange market pressure
Report from economists of several Caribbean central banks lays out the path for fiscal sustainability in the region; recommends using exchange market pressure as trigger for fiscal correction
Fed presidents still divided on timing of rate hike
Heads of the Federal Reserve Banks in Atlanta, Boston and Cleveland offer different takes on current economic conditions; all united in desire for more data
Constâncio fleshes out wider macro-prudential vision
Vice-president at the European Central Bank wants toolkit to extend to a wider range of financial entities, including asset managers, as risks emerge elsewhere in the system
Bank of Portugal was ‘overly cautious’ intervening in BES
A more assertive attitude from the Bank of Portugal could have resulted in the ‘possible mitigation of impacts’ arising from the BES case, finds parliamentary committee
Lagarde calls for ‘new multilateralism’ and pledges to move ahead on reform programme
Global policy agenda for coming year says the integration of key emerging market economies would ‘generate positive global spillovers and stability gains’
Research department split at Central Bank of Malta
Annual report reveals separation of economic forecasts and quantitative research into separate departments, as governor looks to boost capacity
Bank of Canada sees 'front-loaded' oil price effects
Latest monetary policy report estimates Canadian economy was stagnant in first quarter as negative effects from lower oil prices hit earlier than expected; forecasts rebound in coming months
Spanish paper finds LTROs had ‘moderate’ effect
Working paper examines the impact of two ‘very long-term refinancing operations’ conducted in 2011 and 2012, finding evidence of a bank lending channel
Financial stability risks on the rise, IMF warns
Global financial stability report warns risks have increased and ‘rotated’ in the past six months, with emerging markets now more vulnerable