Articles by Central Banking Newsdesk
Central Bank of Kenya chief promotes monetary union
Njuguna Ndung’u calls on Kenya Institute of Bankers to design training to meet the needs of a ‘dynamic regionally integrated financial sector’ ahead of monetary union in East Africa
Fed’s Beige Book reports continued moderate growth
Survey of economic conditions in Fed districts find ‘modest to moderate’ growth in June and early July; respondents ‘cautiously optimistic’ about outlook
Spanish governor admits central bank’s failings
Luis Linde addresses past errors made by the Bank of Spain with regard to supervision of the financial system; says hindsight would mean a different approach to counter-cyclical provisioning
BIS paper argues financial systems can grow too large
Working paper examines impact of size of financial systems on productivity growth; finds size of financial sector initially boosts productivity but beyond certain threshold has negative effect
RBA minutes show cautious optimism
Minutes of Reserve Bank of Australia’s July monetary policy meeting note strong growth in domestic economy and signs of external recovery despite weakened growth in US, Europe and China
Bank of Finland paper analyses Chinese monetary policy
Discussion paper assesses the use of non-market monetary policy in China; finds policy tools are effective at controlling inflation but this depends on source of economic shocks
BoJ minutes reveal unanimous vote for rate hold
Minutes of Bank of Japan’s June monetary policy meeting show unanimous support for rate hold; say deflation a 'critical challenge'
Bank of Canada holds rates steady
Governing council decides to keep benchmark rate at 1%; says modest tightening of monetary policy may be justified if recovery continues
Bernanke blames Europe and fiscal cliff for stalling recovery
Chairman of the Federal Reserve says two main risks to economic improvement in the US are eurozone woes and looming fiscal cliff; urges lawmakers to act promptly
Bank of Israel unveils proposals to increase banking competition
Interim report sets out numerous measures to increase competition in Israel’s banking sector; says banking suffers from high concentration and low efficiency
Bangladesh Bank chief highlights efforts to encourage entrepreneurs
Atiur Rahman discusses role of central bank in promoting financial inclusion of micro and small and medium enterprises; says poverty has seen 'sharp' decline
IMF paper examines impact of financial crisis on US state finances
Working paper studies effect of balanced budget rules at US state level; finds pro-cyclicality but suggests this could be mitigated without changing the rules
Governor of Bank of Papua New Guinea discusses mixed economic outlook
Loi Bakani gives overview of economic developments in Papua New Guinea; notes strong economic growth but warns of risks posed by declining exports and rising government debt
Philippines central bank paper analyses effect of remittance flows
Working paper considers macroeconomic impact of flows of remittances into Filipino economy; identifies number of benefits but also potential risks to competitiveness
Luxembourg nominates new central bank chief
Replacement must be found for Yves Mersch before he moves to European Central Bank; new director-general nominated from finance ministry
IMF calls for policy action to counter looming downside risks
Latest World Economic Outlook and Global Financial Stability Report say further action is necessary by policy-makers in Europe, the US and emerging markets, as downside risks 'loom large'
Prime minister appoints new governor in Trinidad and Tobago
Ewart Williams' replacement announced; takes over tomorrow when Williams leaves after 10 years as governor
ECB reports drop in seized counterfeit euro banknotes
Number of fake euro banknotes withdrawn from circulation falls to 251,000; lowest amount of fake notes found since 2003
Acting head of forecast department chosen in Vietnam
Nguyen Do Quoc Tho appointed as acting general director of the Monetary Statistics and Forecast Department at the State Bank of Vietnam; department last month published positive growth figures
Bundesbank paper studies changes in European monetary transmission
Discussion paper considers effect of financial crisis on transmission of European Central Bank monetary policy; finds decrease in sensitivity of Euribor to changes in central bank rates
RBI official highlights problematic international regulations
Reserve Bank of India executive director examines impact of converging banking regulation on India; suggests global rules may have positive spillovers, but must be tailored to domestic economy
ECB paper analyses risk-sharing in emerging markets
Working paper finds evidence of pro-cyclicality of capital gains on domestic stock markets; argues countries can hedge against risk by encouraging foreign investment
Atlanta Fed president weighs further policy action
Dennis Lockhart assesses need for additional monetary easing in the US; argues further stimulus likely to have limited effect and says current forecast 'untenable' if economy continues to deteriorate
China growth slows for sixth consecutive quarter
Figures published by National Bureau of Statistics of China show year-on-year GDP growth of 7.6% in second quarter of 2012; growth has been steadily slowing since beginning of 2011