Articles by Central Banking Newsdesk
Central Bank of Iceland suspends its foreign currency purchases
Iceland's central bank seeks to mitigate an ‘undesirably large’ depreciation of the Icelandic króna
Currency mismatches hit corporates hard during crisis, says Hungarian paper
Prior to the crisis of 2007, companies with large foreign exchange liabilities and no hedge comprised 7% of the corporate sector but held 66% of the loans; had lower survival rates and profits as a result
BoE paper tackles issue of cross-dependence in panel data models
Research published by the Bank of England uses a Bayesian approach to short dynamic panel data estimation; attempts to capture ‘cross-sectional dependence’
Central Bank of Bosnia and Herzegovina names new vice-governor
Ernadina Bajrović will serve a four-year term and will be responsible for administrative and financial operations
Peruvian paper seeks to fill data void between quarterly releases
Research published by Central Bank of Peru says monthly macroeconomic variables provide information that can be harnessed to predict quarterly aggregates
BoE survey shows businesses credit increased ‘significantly’ in fourth quarter
Bank of England survey finds credit extended to households and the corporate sector increased in the last quarter of 2012
Restrictions on Sri Lankan banks relaxed
Foreign exchange trading limits on Sri Lanka’s commercial banks relaxed by central bank as country pursues ‘second wave’ of growth
Boston Fed paper lauds survey data over rational assumptions for macro models
Research published by Federal Reserve Bank of Boston finds the performance of DSGE models is enhanced by introducing survey data on inflation, unemployment and interest rates
Korea research appraises exchange rate volatility
Working paper published by Bank of Korea finds both high and low exchange rate volatility impacts the country’s credit inflows and can carry negative consequences
Riksbank study tackles capital buffer challenges
Research by members of the Sveriges Riksbank’s financial department analyses the problems posed by Basel III’s counter-cyclical capital buffer
Liikanen urges government to strengthen public finances
Bank of Finland governor says public debt reduction is threatened by lower-than-expected economic growth
Philippines’ inflation target will drop in 2015
Goal will decrease from 4% to 3% in line with the government’s desire for ‘disinflation’ and higher economic growth
Sri Lankan governor issues 21-point plan for bankers
Ajith Nivard Cabraal gives guidance on how banking operations should be monitored and upgraded throughout 2013
Racial equality boosted by deregulation in US, paper says
Banking sector policies that facilitated competition helped increase the black population’s relative wages in the US, but only in racially biased states
Riksbank reinforces foreign currency reserves
Sveriges Riksbank will borrow $15 billion of foreign currency from Swedish National Debt Office to compensate in part for increasing IMF commitments
Cyprus may create ‘bad bank’ as part of reforms
Panicos Demetriades outlines plans to monitor undercapitalised banks and possibly create a ‘bad bank’; Irish chief economist says the burden of austerity measures must be shared
Korea’s Kim calls for an end to currency reserves hoarding
Bank of Korea governor Choongsoo Kim says use of multi-layered financial safety nets would reduce the need for emerging economies to hoard foreign currency reserves; calls for a global effort
IMF paper studies SME financing as source of Japanese recovery
Research says restructuring small and medium-sized enterprises and deepening capital markets in Japan would better boost recovery than costly government support
Chile’s Vergara draws parallels between LatAm and eurozone crises
Governor of the Central Bank of Chile says Latin America’s sovereign debt crisis of the 1980s has similarities with current situation in eurozone; despite ‘lost decade’, better policies resulted
RBA’s Stevens addresses growing importance of policy spillovers
Australia’s Glenn Stevens says policy-makers are becoming increasingly aware of the need to consider the wider impact of domestic decisions, although discussion is in its infancy
Finland paper sizes up Chinese reforms
Research published by the Bank of Finland examines financial liberalisation in China and what it means for the country’s monetary policy framework
Carney and BoE chief economist clash on inflation targeting
Bank of England governor-elect Mark Carney suggests inflation target could be sacrificed for nominal GDP goal; Spencer Dale questions whether this would be effective or viable
QE ‘relief’ no substitute for deleveraging, says HKMA’s Chan
HKMA chief executive warns asset price growth must be supported by structural developments
Belize paper evaluates value of currency peg
Research published by the Central Bank of Belize highlights export growth and steady domestic inflation aided by peg to the US dollar