Articles by Central Banking Newsdesk
Riksbank reviews 20 years of inflation targeting
Sweden’s central bank publishes four research papers on different countries’ experience of inflation targeting and monetary policy; Lars Svensson and Michael Woodford are among the contributors
Bundesbank’s Dombret defends Germany’s current account surplus
Andreas Dombret says the strength of German households, businesses and public sector is a stabilising factor for the eurozone as a whole; calls for acceptance of the structural differences between economies
Chan laments lessons left unlearned from financial crisis
Hong Kong Monetary Authority chief executive Norman Chan says he will continue warning against excess levels of debt, even though it is now widely seen as part of the solution to the crisis
ECB's Cœuré says European institutions must be more accountable
The financial crisis has led European institutions to intrude more into member states' economic and fiscal policies, with 'redistributional consequences' - so democratic accountability is 'key'
Kuroda says Japan is on track to hit price target
Bank of Japan governor says the central bank’s QQE has brought about ‘positive developments’ that are spreading throughout financial markets and the real economy; sees inflation hitting 2% by 2015
Greek paper finds Turkish economy bucks EU trends
Academics use a GVAR model to examine interlinkages between southeast European economies and how they react to eurozone macroeconomic policy; Turkey bucks trends followed by EU members
Fed’s George backs ‘diversity of views’ in supervisory process
Kansas City Fed president Esther George says it is important that the interests of all stakeholders are reflected in a country’s supervisory structure
Fed could step in if US government hits debt ceiling, minutes show
Federal Reserve policymakers held unscheduled meeting the day before US Congress suspended the national debt limit; agreed the NY Fed trading desk could 'address disruptions in market functioning'
Bank of England appoints three new executive directors
Two new executive directorships are created at the Bank of England - for special resolution and information technology - and Jo Place is promoted internally to head up the human resources operation
ECB paper proposes new metrics for competitiveness
Researchers say that conventional indicators of competitiveness are losing their relevance as production spreads across borders, and propose two new measures based on concept of global value chains
Draghi wants European public backstop for stress tests
ECB president Mario Draghi says both national and European public funds should be in place ahead of the comprehensive assessment to ensure it is a ‘credible exercise’
Weidmann and Draghi go head to head on ECB policy
Draghi, Asmussen and Weidmann lay out their views on the right direction for eurozone monetary policy; Bundesbank president accused by Paul Krugman of 'sadomonetarism'
RBA 'open-minded’ to currency intervention
Reserve Bank of Australia governor Glenn Stevens says the central bank would consider intervening in the exchange rate, and insists it ‘remains part of the toolkit’
Canadian paper calls for ‘simple and digestible’ communication on financial stability issues
The paper says central banks should use plain language and build a coherent narrative when communicating financial stability concerns or policies
Yellen wins Senate committee approval
US Senate Banking Committee backs Janet Yellen as the next Federal Reserve chair; latest FOMC minutes reveal support for a cut in the interest rate the Fed pays on excess reserves
OTC derivatives reform contains ‘real world challenges' says Fed governor
Jerome Powell says worldwide reform efforts will turn OTC derivatives market infrastructure into a ‘pillar of strength in the next crisis' if implementation challenges can be overcome
OECD’s White says ECB supervision is back to front
William White says ECB should be managing the current crisis rather than trying to prevent the next one; warns that the global economy remains vulnerable, partly because of central bank actions
'Sticky' deposit rates could cost US households dearly when Fed raises rates
Unwillingness among retail banks in the US to pass on rising market interest rates to depositors costs the country's poorest savers up to $100 million a year, Fed economists find
Yellen wins over key sceptic in bid for Fed confirmation
Republican senator and noted opponent of doveish monetary policy says he will vote for Janet Yellen to lead the Fed based on her commitment to transparency and ‘rules-based' monetary policy
Banking union 'necessary but not sufficient' to fix EU lending, says EBA head
Andrea Enria says banking union is a 'game changer' but cannot fix lending across the single market on its own
Currency peg speculation can 'damage' balance sheets
Researchers find that questions over the credibility of a currency peg can have ‘damaging effects’ on bank balance sheets – consistent with monetary mismatch theory
Bank of Canada deputy discusses price divergence with US
John Murray says prices in Canada have been lower than those in the US for much of the past 30 years; notes the exchange rate 'seems to be driving prices in the two countries away from each other'
ECB launches public consultation on mobile payments security recommendations
The governing council of the ECB asks market participants to comment on draft recommendations intended to make mobile payments more secure; interested parties have until January 31 to weigh in
BoE paper proposes new sovereign debt instruments
Economists from the UK and Canadian central banks says that sovereign cocos and GDP-linked bonds could help reduce the likelihood of liquidity and solvency crises