Articles by Central Banking Newsdesk
Capital lured to EMs by interest rate differentials, CBRT paper finds
Inflation and global liquidity other important drivers of international capital flows post-crisis, but countries' growth rates have less effect
RBA appoints John Simon research head; UK Payments Council names interim CEO
Reserve Bank of Australia promotes John Simon to head of economic research department; Payments Council says Maurice Cleaves will start as interim CEO in November
RBI could appoint COO in structural rethink
Board of directors approves the ‘broad contours’ of reform plans that could see the Reserve Bank of India name a chief operating officer
IMF hosts Middle East forum on Basel III compliance
Middle Eastern countries work together to ensure adequacy of local lenders' capital and liquidity; new report credits region's ‘strict capital quality rules'
HKMA's Chan will champion Hong Kong's asset management industry
Norman Chan calls on officials to ‘put our heads together’ and figure out how to attract more ‘upstream’ asset management activities to Hong Kong
Unconventional monetary policy has heightened medium-term risks to banks, IMF paper finds
No evidence that unconventional monetary policies has ‘helped' banks, according to paper; finds deterioration of medium-term bank credit risk in US, UK, and the eurozone
Avinash Persaud calls on regulators to address ‘system-wide' risk mismatches; slams Solvency II
Forcing long-term institutions under Solvency II to behave like short-term ones will be the biggest contributor to systemic risk since Basel II, says Avinash Persaud in Central Banking journal
IMF paper finds Latam growth likely to slow even if commodity prices remain elevated
Growth over next half-decade expected to be 150bp lower than during boom years; need for 'ambitious structural reforms' to secure 'medium-term growth'
Bank of Mexico trims growth forecast for 2014
‘Sharp slowdown' early in the year suggests little inflation over ‘horizon in which monetary policy has effect'; structural reforms hailed as ‘indispensable step in right direction'
New York Fed president suggests Dodd-Frank has made investors ‘more skittish'
William Dudley notes ‘extraordinary interventions' will be more difficult to undertake, potentially destabilising the financial system by unnerving investors
Global imbalances still on the rise, IMF paper shows
Though efforts have been made to cut current account imbalances since the financial crisis, ‘stock imbalances' continue to grow, find Milesi-Ferretti and Lane
Rajan urges ‘direct cash transfers' to poor people
RBI governor says transfer system would give the poor ‘choice and respect' and break the links between poor public service, patronage and corruption
Lithuania takes delivery of first euro coins
1,740 tonnes of coins must be minted ahead of currency switchover on January 1; delivery is supervised by police under special agreement signed in May
National Bank of Ukraine warns of FX trade restrictions
Ukraine's central bank has been forced to intervene to smooth currency volatility, and warns ‘administrative measures' may follow; rules on reserves have been relaxed, however
IMF paper finds ‘robust' relationship between exchange rate flexibility and external adjustment
Using a data set of bilateral exchange rate regimes, study revives Milton Friedman's argument that a flexible rate facilitates external adjustment
US and Europe more vital for Australian trade than thought
Australian goods being exported to western markets indirectly via east Asia, skewing statistics, according to paper using ‘complementary' estimates of value-added trade
Malta denies granting refuge to Libyan governor
Central Bank of Libya confirmed Saddek Elkaber has sought sanctuary in Malta ‘for months', Libyan news site reports; minister claims governor ‘runs the bank' from island
Ghana requests IMF bailout to bridge fiscal deficit
IMF deputy director will send a team to Accra early next month to initiate discussions; Ghanaian cedi is world's worst performer so far this year
Stanley Fischer upbeat on US productivity potential
Fed vice-chair says productivity cycles are ‘extremely difficult to predict'; emphasises possibility that productivity will continue to rise in line with historical average
Angola SWF joins London-based international forum
Angolan sovereign wealth fund joins London-based International Forum of Sovereign Wealth Funds; Kazakh fund granted associate membership
ECB publishes ‘manual' explaining eurozone banks' comprehensive assessment
Publication of the manual ‘demonstrates ECB's commitment to transparency' on how it is conducting the ‘rigorous' assessment of the eurozone's biggest banks
Fed survey says 40% of US households still struggling to make ends meet
A third of respondents said they were ‘somewhat or much worse off' than before the financial crisis, while a fifth are spending more than they earn
New York Fed study finds Puerto Rico emigration has not led to 'brain drain'
Island's population has been falling for a decade due to emigration, but share of college graduates has increased as low-skilled workers are leaving in greater numbers
Central Bank of Hungary buys $1.8m vacation home
Rural ‘castle hotel' boasts swimming pool, beer pavilion and a bowling alley; will be used for ‘recreation purposes' by staff and create local jobs, bank says