Articles by Central Banking Newsdesk
RBA paper aims to reduce noise in GDP calculation
Researchers combine three measures of Australian GDP to produce a measure they say is less volatile and easier to calculate
European Commission approves Portuguese institution designed to finance SMEs
New development bank to finance SMEs until 2020, at which point the Commission will assess how the market has evolved; will have starting capital of €100 million
French paper considers impact of TLTROs on funding costs
Banque de France economist examines the funding conditions attached to the ECB’s targeted long-term refinancing operations; sees potential benefits for banks
Singular spectrum analysis helpful when assessing output gaps, study finds
Bank of Portugal paper analyses the ‘added value of singular spectrum analysis-based nowcasts in a real-life, policy-making scenario’
Banque de France and HKMA ink renminbi deal
Central banks seek closer ties to help develop renminbi business in Hong Kong and Paris; Christian Noyer hails the two cities as ‘among the most important’ for offshore renminbi trade
People: Poland names new vice-president; Riksbank general council appoints new chair
Anna Trzecińska returns to National Bank of Poland as vice-president; Riksbank general council elects Susanne Eberstein as chairman; and more
IMF paper suggests solutions to collective action problems
Working paper says difficulties in achieving cooperation when tackling global risks are surmountable; suggests taking ‘incremental steps’ and ‘realigning incentives’
Bank of Mauritius governor hails ‘rejuvenated’ staff
Rundheersing Bheenick says new hires and the creation of ‘director of technology’ position help the central bank keep abreast of rapid technological progress in the banking sector
BoE paper tests optimal policy when workers lose skills
Working paper asks how optimal monetary policy is affected by ‘human capital depreciation’; finds strict inflation targeting can be improved upon
Sarb launches investigation into forex traders
Central bank joins growing list of regulators concerned by potential for misconduct among foreign exchange market practitioners
Monte dei Paschi’s shares plummet in wake of ECB results
Shares in Italy’s third-largest bank drop by 20% as the market reacts to stress-test results; MPS claims it was ‘penalised’ by methodology
Bank Indonesia sets out reform agenda for next 10 years
Improving control over inflation and support for financial system stability are the main goals of the ’transformation program’
Stevens exerts pressure on Australian payments industry
RBA governor says the central bank would be ‘duty bound’ to use its regulatory powers to bring about change if the market does not do so of its own free will
Chile’s economy affected by commodities price shocks, says central bank governor
Commodity price shocks can 'be transmitted to the rest of the economy, even when countercyclical fiscal and monetary policies are in place', argues the Central Bank of Chile governor
BoE researchers flag potential flaws in CCP default funds
Paper asks whether ‘cover two’ standard for central counterparties is tough enough to prevent ‘disaster’; some distributions of risk give cause for concern
Bank of Mexico’s Sánchez considers EM response to tighter Fed policy
Deputy governor says emerging markets will need to contend with the end of the ‘financial bonanza’ that surfaced in the wake of the crisis, and must consolidate
RBNZ’s Wheeler highlights the many unknowns of financial linkages
Governor says our understanding of the ‘empirical links’ of exchange rates and cross-border financial flows remains limited
China, India, among founders of Asian Infrastructure Investment Bank
Twenty-one Asian countries establish a new institution to aid infrastructure development in the region, which will be fully operational by the end of 2015
Fed issues tougher and broader 2015 stress tests
Severely adverse scenario adds oil price shock and wider corporate bond spreads; list of stress-tested institutions grows
Central Bank of Iraq updates 5,000 and 25,000 dinar banknotes
The central bank says the new banknotes will coexist with their predecessors; most notable change sees addition of transparent window on 25,000 note
Uruguay digitises cheque clearing in payments overhaul
Central bank announces that all cheques will be cleared electronically – part of a payment system reform that will see the promotion of mobile banking
Rajan overruled external members’ call for rate cut in September
External members on RBI’s technical advisory committee see the case for easing, and the majority voted for a rate cut in September; deputy governor portfolios shaken up
BIS paper finds liquidity regulation need not harm lending
Evidence from the UK implies banks reduced their interconnectedness, but did not cut lending to the real economy in response to tighter liquidity regulations in 2010
Broadbent: Neutral real rates will stay low for ‘some time’
Bank of England deputy governor Ben Broadbent expects neutral real rates of interest to rise ‘eventually’, but expects them to remain low ‘for some time yet’