Articles by Central Banking Newsdesk
Deutsche Bundesbank paper studies developments in financial connections
Discussion paper analyses changes in connectedness of financial institutions following financial crisis; suggests possible stability benefits created by bank bailouts
RBI paper finds monetary policy undermined by unsustainable deficits
Researchers assess link between high government debt and persistent inflation; find restrictive monetary policy may struggle to contain inflation if accompanied by a large budget deficit
BoJ’s Shirakawa urges cautious acceptance of financial innovation
Masaaki Shirakawa says innovative use of futures trading could create benefits for the wider economy; says this must be carefully controlled by implementation of Basel III rules
ECB reports decline in card fraud
First oversight report of card payment schemes in Sepa shows decline in fraud since 2007; lauds technological advances including chip and pin use for increasing the security of transactions
Bank of Italy ends twinning programme with Bank of Albania
Guidance project between Italian, French and Albanian central banks comes to an end; final results due in October 2012
RBI research examines debt management conflict of interest
Working paper discusses whether the Reserve Bank of India’s dual monetary policy and debt management roles affect price stability mandate; finds little evidence of impact
Bank of Canada paper finds major benefits of QE in UK and US
Researchers study impact of asset purchases by Federal Reserve and Bank of England; identify ‘powerful effect’ on output and inflation
St Louis Fed research stresses importance of money
Working paper argues that money is essential in determining prices, despite monetary aggregates being largely ignored by central banks; says central banks have limited power over interest rates
Central Bank of Chile paper discusses adaptations to macro-prudential policy
Research highlights importance of considering non-core bank liabilities in setting macro-prudential policy; suggests levy on such liabilities would have counter-cyclical benefits
Malawian governor unapologetic for reform pain
Charles Chuka says ‘when you mess up you pay the price’ and vows to plough on with economic reforms; blames past overvalued exchange rate for country’s problems
Basel Committee releases interim rules for CCP capital requirements
Interim rules update Basel II capital requirements framework for banks exposed to central counterparties; rules may still be adjusted as other elements of Basel III are finalised
Bank Indonesia prepares payment systems for Eid
Indonesian central bank mounts campaign to get enough cash into the system prior to Eid celebrations; confident payment demands will be met
Central banks hold rates amid continued uncertain outlook
Central banks in Hungary, Israel, Mexico, Nigeria and Thailand maintain benchmark interest rates, citing fragile global economy; domestic growth prospects vary
ECB lambasts Hungarian financial transaction tax
European Central Bank accuses government of hindering National Bank of Hungary's independence by imposing transaction tax; also blasts failure to properly consult on the plans
Dubai authorities warn of scam using UAE central bank’s name
Fraudsters using official headed paper to send letters asking for money; correspondence claims to represent the Central Bank of the United Arab Emirates
Curacao and Sint Maarten governor discusses central bank co-operation
Emsley Tromp says co-ordinated action by central banks is particularly important in emerging markets; outlines four areas where closer ties would be beneficial
BoE paper models risk of financial shock amplification
Working paper develops model of financial system linkages to illustrate shock transmission; finds spread of defaults is amplified by fire sales and curtailed lending
BoJ deputy governor says central bank ready to act
Hirohide Yamaguchi suggests possibility of further monetary easing if global economic outlook worsens; nevertheless gives positive assessment of economic conditions
IMF paper finds changing resilience of emerging markets to financial shocks
Working paper assesses net change in ability of emerging markets to absorb financial shocks; says improved economic fundamentals are offset by vulnerabilities due to inflexible exchange rates
UK FSA chairman slams past regulatory mistakes
Adair Turner highlights ‘dangerous institutional underlap’ prior to financial crisis; sets out steps to improve regulation, but says bank management must also change
Tunisian government under fire for sacking central bank governor
Rating agency declares decision to remove Mustapha Kamel Nabli from post ‘credit negative’; loss of well-respected central bank chief threatens institution’s independence, says Moody’s
Vietnam unveils leadership board for new FSAP
State Bank of Vietnam reveals people selected to lead the country’s first Financial Sector Assessment Programme; in-depth analysis will be used by the IMF in surveillance work
RBA’s Stevens confident Australian growth will continue
Reserve Bank of Australia governor discusses factors behind Australian growth outperforming other advanced economies; argues country’s economic position likely to remain strong
Nigeria’s Sanusi urges innovative infrastructure financing
Nigerian governor says country must find new ways of raising $10 billion each year for infrastructure investment; argues this requires both private and public funding