Articles by Central Banking Newsdesk
Bundesbank warns on ‘moral hazard' from low interest rate environment
Bundesbank's latest annual financial stability report fears insurance companies and banks are losing out in the low interest rate environment; deputy says ‘primary law' must change for SRM to work
Flug takes up Fischer's mantle on Israeli economy
New governor Karnit Flug proposes financial stability committee in conjunction with ministry of finance; repeats predecessor's calls to expand labour force participation and build more homes
Leaning against the wind does more harm than good, warns Svensson
Former Riksbank deputy Lars Svensson argues higher interest rates to combat asset bubbles and financial instability have the opposite effect by raising the real debt burden of households
Norges Bank deputy discusses institutional underpinnings of central bank activities
Jan Qvigstad highlights the importance of institutions in facilitating payments in an era when money lacks intrinsic value; chides Argentinian government for meddling with statistics
Finnish deputy outlines credibility triad
Pentti Hakkarainen says a central bank’s financial position, legal independence and communications all influence the credibility, and therefore efficacy, of its monetary policy
ECB's Asmussen defends 'unorthodox measures' in pursuit of 'orthodox objectives'
Executive board member highlights distinction between policy goals and instruments; says LTROs, OMTs and forward guidance crucial to ensure monetary transmission and hit inflation target
Central Bank of Liberia deputy governor dies aged 60
Theophilus Bettie, deputy governor for economic policy at the Central Bank of Liberia, passed away while attending a conference in Lagos, Nigeria last week
UK data boost could spell early end to BoE forward guidance
Inflation report out today predicts consumer price inflation will reach 2% target sooner than predicted after sharp drop in October; revised forecast on unemployment may undermine forward guidance
Bundesbank research seeks to disentangle recession and depression
Discussion paper isolates unique features of depressions and booms to separate them out from recessions and expansions; results suggest recent ‘Great Recession’ was not a depression
Spanish economist urges IMF to complete its ‘metamorphosis’
Bank of Spain economic study says the International Monetary Fund needs to test its new surveillance and lending policies before it can take its place as the ‘guarantor’ of the new economic order
IMF paper backs stress test ‘rules of thumb’
Researchers from the IMF and BIS say rough guides to the typical relationships between credit levels and bank solvency can be useful tools in bank stress tests
Norges Bank should make ethical investment decisions for SWF, say government advisers
Report sets out ways for pension fund to boost influence over responsible investments, aiming to increase long-run returns; recommends concentrating decision-making power at Norges Bank
Mersch tells Greece not to forget future generations
Executive board member praises country for its ‘extraordinary efforts to refute the naysayers’, but warns hesitation now will force future generations to bear the burden of past mistakes
Collateral could be useful tool at zero lower bound, says ECB paper
Working paper shows broader collateral eligibility makes funding conditions easier for banks; notes this could be useful for policy, but central banks should not forget sound risk management
Minneapolis paper finds stable Phillips curve in regional data
Researchers find relationship between unemployment and inflation holds in regional data but breaks down at national level; suggest this could be used for policy-making
Basel Committee reveals data behind G-Sib designations
Bank for International Settlements publishes figures used to calculate systemic importance and the thresholds for ‘buckets’; FSB designates new bank a G-Sib and shuffles existing list
Lautenschläger enunciates Buba's macro-pru approach
Focus on individual banks must be complemented by efforts to stem 'pro-cyclical' tendencies of the financial system as a whole, says Bundesbank deputy
People: San Fran Fed picks new COO; Malaysia appoints Sharia Advisory Council
New COO takes over from John Moore, who retires after 33 years at the Fed; Shariah Advisory Council chosen as final authority in disputes over Sharia-compliant finance
RBI's independence under threat, says former chief general manager
Grace Koshie says proposed changes could give the government greater involvement in the Reserve Bank of India’s operational areas; warns other central banks' legal independence is being ‘altered’
Dominican Republic seeks damages after printer loses 8,500 banknotes
Defective banknotes worth an estimated 17 million Dominican pesos disappeared from French contractor in July; detected in the Caribbean country earlier this month, central bank says
NY Fed researchers study how, and how not, to co-ordinate policy
Staff report looks at best ways to co-ordinate monetary and macro-prudential policy, and highlights a number of potential pitfalls; model suggests macro-prudential policy should lead
RBA's Debelle backs Mundell-Fleming model
Reserve Bank of Australia assistant governor tells IMF annual conference that recent papers have failed to convince him to abandon traditional models of exchange rate effects
Crisis a 'classic panic' in novel institutional context, says Bernanke
Speaking at the IMF annual research conference in DC, Fed chair warns of moral hazard arising from actions to limit crisis early on; outlines US long-term measures aimed at curbing such externalities
Taiwan upgrading payments tech in RMB push
A deputy governor at the Taiwanese central bank reveals plans to expand the country’s new foreign currency clearing system to create technological backbone for offshore renminbi market