Articles by Central Banking Newsdesk
BIS sees cross-border liquidity reverting to historical trend
Latest global liquidity indicators show low volatility combining with rapid cross-border credit growth; researchers challenge simple supply and demand theory of oil-price slump
Sama governor calls for subsidy cuts
Fahad Al-Mubarak says the Saudi Arabian economy is being hampered by various inefficiencies, including excessive subsidies on energy and water
Dallas Fed report calls for better understanding of global finance
Globalisation annual report urges monetary policy-makers to take account of global financial flows and seeks a better understanding of interdependence
Greenspan: Eurozone could collapse without political union
Former Fed chair Alan Greenspan says it is ‘very difficult’ to imagine the eurozone remaining intact without political union, while it is ‘just a matter of time’ before Greece departs
Visco highlights ‘inadequate’ stock of human capital in Italy
Bank of Italy governor calls for better education and training to help develop the ‘right skills and capabilities’ necessary for the country to achieve higher growth
Boston Fed’s Rosengren flags key elements of successful QE
Eric Rosengren sets out the most successful design features from the Fed’s experience of quantitative easing and hints ‘other parts of the globe’ may have acted too late
Riksbank: Economic activity in Sweden ‘at a standstill'
Central bank survey shows companies still being hampered by the slow recovery in Europe, leading them to try cutting costs to increase margins
Lagarde tells G-20 to act now and boost growth
IMF managing director warns that without action the ‘global economic supertanker’ could remain ‘stuck in the shallow waters of sub-par growth and meagre job creation’
People: IMF names new deputy; Brazil in line for two as well
Christine Lagarde wants to appoint an adviser of the Japanese government as deputy managing director; Brazil’s central bank governor proposes two new deputies in a reshuffle; and more
Chan welcomes code of conduct for Hong Kong bankers
HKMA chief executive praises stricter code of conduct, which seeks to improve banking culture, promote competition and protect consumers
ECB publishes new economic bulletin
The first in the new series, introduced to ‘mirror’ new governing council meeting cycle, features an assessment of the Chinese economic outlook
Czech paper examines link between financial variables and macroeconomy
Financial variables ‘particularly relevant’ in explaining Czech macroeconomic developments in the lead-up to and during downturns, researchers find
Weidmann prescribes dose of discipline for eurozone
Bundesbank president says governments must accept liability for their own fiscal actions; sees no ‘urgent need’ for QE and warns of policy side effects
ECB’s collateral move adds pressure to Greek negotiations
Decision to cease accepting some Greek debt as collateral two weeks earlier than necessary turns banks toward ELA and adds pressure to political negotiations
Pakistan targets automated cash management in five years
State Bank of Pakistan aims to automate cash management and urges commercial banks to follow suit; deputy governor says it will help ensure only clean and genuine notes circulate
Meltzer accuses Fed of three ‘major’ errors
Writing in the Central Banking Journal, Allan Meltzer argues the Fed continued QE for too long, while relying too heavily on ‘noisy’ data and too little on monetary and credit aggregates
IMF: Pan-African banks pose oversight challenges
Report highlights need to reconcile regional and national interests in currency unions in the continent to ensure effective regulation and supervision
Wheeler: RBNZ will ‘talk more’ about housing
The Reserve Bank of New Zealand will focus on the market in coming months, Wheeler says, with house price inflation ‘increasing again’ in Auckland
Curbs on rehypothecation may boost welfare, St Louis Fed paper finds
Researchers find rehypothecation boosts welfare, particularly as inflation rises, but it generally goes too far, implying there are benefits to regulatory intervention
BoJ’s Iwata says QQE is a break with history
Deputy governor says latest asset purchases programme a sign of dramatic ‘regime change’ and consumers will have to respond – it is just a question of when
Prasarn dismisses threat of deflation as headline rate goes negative
Thai governor pens letter to finance minister after headline inflation falls to -0.4% in January; IMF sees ‘scope for further easing' as two MPC members dissent on rate hold
BoE’s Kohn and Taylor foresee FPC divisions
Financial policy committee is likely to rely more heavily on voting in future, Donald Kohn and Martin Taylor tell MPs; Andrew Tyrie attacks accountability and calls for review
New York Fed unveils new way to calculate funds rate
Central bank plans to base the rate on a new dataset that captures a broader range of market activity; move likely to happen in about a year’s time
FSB: Bank of Russia's financial stability mandate unclear
Peer review calls for 'adequate' legal basis to impose macro-prudential measures; warns mandate of separate advisory body 'seems to duplicate' that of central bank