Articles by Central Banking Newsdesk
Bank of Israel researchers propose exchange rate-based forward guidance
Researchers say forward guidance has a mixed track record, especially in small open economies, but linking guidance to external factors would help improve credibility
Caruana sees leverage ‘evolving’ at global level
BIS general manager highlights risks beyond the banking sector, including an increase in corporate leverage in the wake of the financial crisis
Bank of England MPC still split 7-2 on rates
Minutes from the December meeting show Ian McCafferty and Martin Weale voted for a 25bp hike for the fifth consecutive month; they argue wage growth could ‘pick up sharply’
Australian banks look to stable deposits to meet LCR, says Debelle
Interest rates on more stable deposit products are rising as banks prepare for liquidity coverage ratio’s January deadline, says Reserve Bank of Australia assistant governor
Ingves: Riksbank prepared to launch currency interventions
Swedish governor says central bank prepared to take unconventional measures, including negative interest rates and asset purchases, in light of falling oil prices
Czech National Bank advises against joining ERM II in 2015
Central bank says the government should not set a target date for entry into the eurozone; raises concern over pace of economic convergence and costs of joining
Credible fiscal plans reduce pressure on sovereign bond market, study finds
A credible macro-fiscal framework ‘can lead to stable expectations’ around a country’s sovereign bond market, reducing its expected risk premium, ECB paper finds
Bonnici disappointed by TLTRO take-up in Malta
Central Bank of Malta governor Josef Bonnici says it "would be a pity" if the country’s banks did not take advantage of the cheap funding on offer
FCA director says breakdown in controls led to communications blunder
Clive Adamson says FCA has taken steps to improve internal procedures; tells MPs the organisation can struggle to operate in a crisis
Signs of reflation in Japan as Abe sweeps back to power
Tankan survey shows degree of optimism among businesses and potential for rising wages in coming months, although evidence is mixed; Shinzo Abe reclaims supermajority in election
SBP annual report highlights ‘two phase’ year
Pakistan’s economy suffered turbulent spell in 2013, but IMF agreement saw a return to relative stability; central bank praises government for ‘long-awaited’ return to fiscal discipline
External imbalances predict exchange rate returns, finds SNB paper
Deviations from trends in Swiss net foreign assets and net exports indicated how nominal exchange rate will move in the future, according to a Swiss National Bank working paper
IMF paper suggests Peruvian forex interventions are asymmetric
The Central Bank of Peru has tended to react differently in the face of appreciation and depreciation pressures, research finds
Fischer questions FSB's democratic credentials
Fed vice-chair says Basel body not democratic ‘in a certain sense' but still a ‘great success'; argues it was set up specifically to circumvent IMF bureaucracy
UK payments regulator may use powers to force innovation
Payment Systems Regulator emphasises its "strong" powers over industry and says it will not hesitate to use them if firms fail to collaborate on innovation
RBNZ takes next step towards replacing settlement systems
The Reserve Bank of New Zealand is seeking registrations of interest from potential vendors to replace its current payment and settlement systems, NZClear and Esas
IMF: Uganda cut policy meetings to improve forecasts
Bank of Uganda now sets policy once every two months in an effort to base decisions on "firmer" data; the ECB will hold eight meetings in 2015 with the BoE set to follow suit in 2016
Kocherlakota announces Fed departure
Minneapolis Fed president and FOMC dove to step down when his term draws to a close in February 2016
Fijian authorities tackle religious worker fraud
Financial Intelligence Unit urges religious organisations to conduct financial transactions under own name to prevent overseas remittances from ending up in the wrong hands
RBI's Rajan looks to regional and domestic demand
RBI governor argues India must look to regional and domestic demand for its growth, while still working towards a ‘more open and fair global system’
Impact of flight to liquidity on bonds important for policy-makers, study finds
The effects of flight to liquidity episodes on bond markets ‘are important for policy-makers’, since they are associated with ‘lower macroeconomic confidence’, research finds
IMF paper: Costs of macro-pru policies still unclear
Policy-makers should ‘move carefully' in adopting macro-prudential tools as ‘knowledge is still limited', working paper argues
Poloz warns regulation could stifle credit to SMEs
Bank of Canada governor says new financial regulation likely to reduce the availability of credit to small companies by discouraging financial innovation
Basel Committee tightens securitisation standards despite bank protests
Final standards for securitisations impose tougher capital requirements despite banks’ complaints that the rules are ‘punitive’; reduces reliance on external ratings