Articles by Central Banking Newsdesk
SNB expects profit of $39 billion for 2014
Foreign currency positions responsible for most of the profit for Swiss National Bank, which increased its forex reserves by 7% in December following exchange rate pressure
DNB bulletin: International cooperation ‘essential’ over cyber threats
Latest bulletin from The Netherlands Bank encourages both financial institutions and national authorities to collaborate more in bolstering defences against attacks
Belgian paper examines impact of unit labour costs on exports
Working paper results imply a 10% increase in unit labour costs leads to drop in exports of between 2% and 4%, based on data from 1999 to 2010
Riksbank ready to launch new measures ‘at short notice'
Swedish central bank prepared to launch unconventional measures in February, minutes reveal; board member says currency interventions inappropriate as other countries struggle
Chilean paper analyses recent trends in long-term interest rates
Whether interest rate normalisation will be a smooth process ‘remains to be seen’ as recent developments in fixed-income markets ‘warns of enhanced risks’, research finds
Fed signals rate hike despite drop in inflation
Minutes suggest Fed will tighten policy despite expecting inflation to remain below target for 'some time'; rate hike unlikely for 'at least the next couple of meetings'
Bank of Jamaica set for new powers in 2015
Central bank on track to assume responsibility for financial stability; will start conducting annual reviews to track ‘readiness’ for full-fledged inflation targeting
Eurozone inflation goes negative with QE looming
Annual HICP inflation falls to -0.2% in December due largely to plummeting oil prices; expectations rising for ECB to expand asset purchases on January 22
No end in sight for cash payments, Canadian research finds
Despite its costs, cash remains a popular option among Canadians, with younger consumers and merchants showing the highest demand for cash
Polish paper examines impact of different loan types on policy efficacy
Researchers from Polish and Norwegian central banks consider how the different characteristics of residential mortgage markets influence the workings of monetary and macro-prudential policy
IMF paper suggests looser monetary policy to offset eurozone macro-pru policies
Staff paper examining housing markets in Denmark, Ireland, Spain and the Netherlands also proposes restricting banks' ability to pay dividends in order to absorb losses
Obama to nominate community banker to Fed board of governors
Move follows bipartisan criticism against the prevalence of academics in the US central bank's top ranks; Fed announces new head of monetary affairs
State Bank of Vietnam devalues dong as dollar rises
Vietnam’s central bank devalues the dong by 1% against the dollar, in a move to create ‘sustainable stability’ in the forex market
Zambian governor fears shariah scholar shortage
Michael Gondwe identifies challenges to the growth of Islamic finance in Zambia, which he believes is necessary to provide affordable products and services to the population
Pent-up wage cuts an 'important force' during recovery, San Francisco Fed researchers find
Many firms were unable to reduce wages during the recession, and the 'pent-up' reductions have influenced the recovery, argue authors
PBoC names clearing banks in Thailand and Malaysia
Industrial and Commercial Bank of China will clear renminbi in Bangkok and Bank of China in Kuala Lumpur, the central bank announces
Bank of Korea paper examines global liquidity drivers
Researchers at central bank explore transmission of global liquidity shocks from advanced to emerging market economies; warns there is no ‘silver bullet’ response
Bundesbank paper finds bank levy is biting
Big banks have adjusted their behaviour in response to a tax on their liabilities, but less revenue has been raised than expected, Bundesbank researchers find
Banks are being herded into using similar risk methods by regulation, experts warn
Regulation is encouraging banks to manage risk using similar methods, which presents a threat to financial stability, witnesses tell a UK parliamentary committee
FSB definition of shadow banking paints 'incomplete picture', warns IMF paper
US and eurozone sectors similar in size according to working paper, which says other measures fail to account for ‘non-traditional banking activities carried out by the banks themselves'
Sri Lanka reduces inflation target range by 200bp
The Central Bank of Sri Lanka will aim to keep inflation between 2% and 4% in 2015, after a fall in prices and in some key commodities. From 2016 on, the bank will aim for 3% to 5%
Peru adopts measures to reduce credit dollarisation
Peru’s central bank lowers the reserve requirement for local currency loans to 9% as part of a suite of measures aimed at boosting financial stability
Basel Committee revamps approach to credit risk models
Separate consultations set out improvements to standardised credit risk modelling approaches and make proposals for a capital floor; seek to reduce use of external ratings
Impact of ECB unconventional policies depends on bank capitalisation, finds Belgian paper
ECB crisis measures have greater impact on GDP growth in countries where banks are well capitalised, researchers find