Articles by Central Banking Newsdesk
Maltese governor says ECB’s policy will ‘take a while’ to hit periphery
Josef Bonnici attributes the drop in loans to the private sector in the eurozone’s stressed countries to the ‘weak and uneven’ monetary policy transmission mechanism
Eurozone household debt varies based on institutions, paper finds
Repossession periods are the strongest single determinant of the distribution of secured debt in different member states of the eurozone, with fewer borrowers where repossession periods are longer
Shariah principles will engender financial stability, says Zeti
Bank Negara Malaysia governor Zeti says Shariah principles, if properly adhered to, will help Islamic finance make a positive contribution towards overall financial stability
ECB paper says global economy still haunted by ‘spectre of protectionism’
Researchers at the European Central Bank find evidence that countries still regress to trade protectionism in the face of recessions or loss of competitiveness; call for international peer pressure
Mersch defends ECB’s Chinese walls
European Central Bank executive board member Yves Mersch says plans to keep monetary and supervisory functions separate will ensure any ‘conflicts of interest’ are avoided
Swiss paper dissects asset price responses to economic news
Researchers find the relationship between asset prices and economic news is shaped by the prevailing economic conditions – including policy rates and perception of risk
Irish governor backs domestic and export banking separation
Patrick Honohan says that, by keeping the export and domestic banking sectors separate in small countries, authorities can avoid having to put a cap on the size of banks’ balance sheets
Somalia turns to former governor to take the reins again
Bashir Issa Ali will fill the governor vacancy at the Central Bank of Somalia, created when Yussur Abrar quit the bank and the country amid corruption controversies
New Zealand payment systems under review
Reserve Bank of New Zealand announces review of its two large-value settlement systems; expects to sanction ‘significant upgrades’ to both within the next four years
Zambian governor says tougher capital rules will help foster financial inclusion
Michael Gondwe says recent increases in the minimum capital requirements imposed on domestic and foreign banks will make them stronger and improve the supply of credit to ‘local entrepreneurs’
ECB’s Asmussen demands gender diversity
Executive board member Jörg Asmussen says he is ‘deeply convinced’ of the need for greater gender diversity in the financial industry, and the benefit to both men and women
Bank of England terminates mortgage support
Funding for Lending Scheme will cease subsidising mortgages in 2014; Mark Carney outlines tools the central bank could use to rein in the ‘growing momentum’ in UK housing market
Liikanen calls for ‘precise’ communication at point of exit
Bank of Finland governor Erkki Liikanen emphasises the importance of central banks providing detailed and accurate communication as they approach the ‘turning point’ of monetary policy
Monetary union hampers current account adjustment, say Bundesbank economists
Paper examines current account dynamics in countries with fixed and floating exchange rates, and countries in a monetary union; find evidence that monetary union might aggravate existing imbalances
San Fran Fed letter highlights impact of oil prices on inflation expectations
Researchers from the Federal Reserve Bank of San Francisco say consumers update their inflation expectations using a ‘few simple rules of thumb’ – one of which is linked to the price of oil
Polish paper explains perceptions of higher inflation
Economists at the National Bank of Poland construct a consumer perceived price index that reflects the population’s loss aversion to price increases
Lithuania on track to join euro at second time of asking
The Bank of Lithuania has started publishing regular forecasts that keep track of the country’s progress towards meeting the convergence criteria necessary for accession to the eurozone
ECB's Smets made counsellor to president Draghi
Frank Smets, ECB director-general for research, steps into post vacated by Christian Thimann; will be counsellor to the president and co-ordinator of counsel to the executive board
ECB’s Mersch warns against excess liquidity policy becoming ‘permanent feature’
Executive board member Yves Mersch says it is now up to banks to make the most of the ‘favourable financing conditions’ created by the ECB
People: IMF poaches ADB chief economist; BNP's Gary Smith makes switch to MassMutual
Changyong Rhee takes over from Anoop Singh in IMF’s Asian and Pacific department; Gary Smith joins Massachusetts Mutual; former RBI chief general manager joins commercial bank board
Reserve Bank of Australia deputy governor targets productivity boost
Philip Lowe says the country will need a ‘substantial increase’ in productivity growth if it is to replicate the rapid growth in real per capita income achieved in the past two decades
IMF paper highlights benefits of model-based approach to monetary policy analysis in LICs
New paper taking Kenya as an example finds benefits of a model-based approach to monetary policy analysis in low-income countries, including in countries with money-targeting frameworks
Diminishing importance of US in world economy mutes knock-on effects, finds BoJ paper
Tightening monetary policy in the US in the 1990s had significant adverse effects in the rest of the world - but the following decade, despite increased global integration, the effects were less
ECB prepares ground for new €10 banknote next year
New €10 note will be the second in the Europa series after the launch of the €5 note this May; Partnership Programme launched today will seek to smooth its introduction among stakeholders