Articles by Central Banking Newsdesk
French president calls for euro exchange rate policy
François Hollande says the single currency cannot be left vulnerable to the whims of the market and a valuation that wipes out efforts to improve competitiveness
San Francisco Fed dissects long-term unemployment
Long-term unemployment has ‘persisted remarkably’ since outset of recession; should disappear over time as economic activity increases
Dutch paper says foreign banks can help or harm developing markets
Working paper finds foreign-owned banks in developing countries can provide cheaper and higher quality financial services, but may also transmit shocks across borders
Taylor challenges efficacy of central bank independence
Without a rules-based framework central banks tend to stretch the bounds of their independence, and the results tend to be poor, John Taylor says
National Bank of Denmark expects recovery
Central bank says domestic demand and GDP growth will improve in 2013; existing unemployment should not have lasting impact
South Africa moves toward UK-style ‘twin peaks’ regulators
Sarb issues consultative document on introduction of prudential and conduct regulators similar to plans in the UK; IMF study encounters problems in testing efficacy of macro-prudential policy
UK to ‘electrify' bank ring-fence in bid to end ‘too big to fail'
UK chancellor launches legislation to enforce ring-fencing – and separate banks that fail to comply
Chilean board members wary of low inflation
Chilean wage growth is outstripping inflation; board members show concern but hold rates
ECB paper tweaks the evaluation of early warning systems
Research proposes changes in the way the costs and benefits of early warning systems are calculated
NY Fed president calls for tri-party and money fund reform
William Dudley lays out a range of options to ‘make the basic structure of the wholesale funding market as sound as possible'
Fed research paper finds uncertainty more damaging at the zero lower bound
New paper finds the zero lower bound has exacerbated the effect of uncertainty in the ‘Great Recession'
Rating agency warns of knock-on effect of Fed’s foreign bank rules
Fitch says tighter rules for foreign banks operating in the US are likely to make other countries raise standards as well, putting a squeeze on the growth of global banks
Barnier still examining ‘where to draw the line' on bank ring-fencing
Commission spokesman admits tension between maintaining competitive banks that can still finance economic growth and eliminating risks remaining in the European banking system
Pakistan says Nato pull-back worsened rupee depreciation
State Bank of Pakistan annual report finds closure of Nato supply lines to Afghanistan contributed to a 9.1% depreciation of the rupee against the dollar in fiscal 2011–12
IMF research lends support to exchange rate liberalisation
Working paper concludes exchange rate liberalisation in sub-Saharan Africa ended a prolonged crisis and prompted a ‘strong and ongoing’ economic expansion
NZ governor wants ‘stand out’ policy
Graeme Wheeler says New Zealand’s economic growth is dependent on its ability to introduce internationally attractive policy
Malawi at risk in wake of currency devaluation
Financial stability report reveals inflation doubled after Malawian government floated exchange rate and devalued currency by 50%
IMF board split on quota reform options
Disagreement among IMF executive board members over whether more emphasis on emerging markets is needed, with ‘considerable support’ for increasing weight of GDP in quota formula
Basel report proposes curbs on bank modelling choices
Basel Committee report finds ‘considerable variation’ in risk-weighted assets for bank trading books; says policy-makers should consider limiting modelling options and improving disclosure
Canadian study links financial development and income volatility
Working paper finds financial development can dampen the impact of technological shocks on the economy
New paper finds Colombia could be in the midst of a housing bubble
'New-fangled method' of detecting bubbles finds Colombian housing could be in a bubble right now, though findings may not be robust
Jwala Rambarran laments Caribbean futility over public debt
The Trinidad and Tobago governor says the fiscal adjustments needed in Caribbean countries are not practicable; questions success of present international initiatives
Central Bank of Ireland drops growth forecast for 2013
Irish central bank lowers growth expectations in 2013 in response to weaker global demand; targets increased productivity in domestic economy
Shirakawa warns US and Europe have more to learn from Japan's experience
BoJ governor gives his view on the role of central banks and monetary policy in a speech covering reactions to Lehman, the European debt crisis and the earthquake of 2011