Articles by Central Banking Newsdesk
Optimal monetary policy with some pricing power
Boston Fed paper looks at optimal policy in an environment where firms can set some prices
Philadelphia Fed Business Review
Review features articles on monetary policy implementation, banking design and the best way for central banks to transmit information
Korea holds amid concern over government influence
Bank of Korea leaves the cost of borrowing at 2% for 11th straight month; concern that presence of a minister at meetings will curtail independence
Leverage and productivity in emerging European economies
A Centre for Economic Policy Research paper published in December argues that while moderate leverage increases growth, excess leverage can dampen it
Post-crisis bank behaviour: lessons from South America
International Monetary Fund paper uses data from banks in Mercosur trading bloc to investigate longer-term impact of turmoil on industry
FOMC minutes flag inflation uncertainty
Minutes for December meeting of the Federal Open Market Committee underline divergence of views over price pressures
Bank of Finland Bulletin (December 2009)
The Finnish central bank acknowledges the weakness of the economic recovery and explains why the domestic economy has been particularly affected by the crisis
A century of financial crises in New Zealand
Recent analysis from the Reserve Bank of New Zealand suggests that improvements in policy will reduce the risk of a currency crisis going forward
Bakani named new Papua New Guinea governor
Bank of Papua New Guinea’s Loi Bakani succeeds Sir Wilson Kamit
Lawmakers voice fears for gilt demand
Treasury Committee says end to quantitative easing could lead to gilts sales falling short and funding costs rising
Politician seen as likely replacement for Buba’s Fabritius
Reported move raises fears Bundesbank becoming increasingly politicised
Israel’s Fischer asked to serve second term – reports
Stanley Fischer reportedly asked by Israel’s prime minister to serve a second term at the Bank of Israel
Housing cycles and the macroeconomy in the Middle East
International Monetary Fund paper calls for more research into the linkages between house prices and business, and an improvement to the range and precision of data
Cut expenditure as soon as recovery firms: RBI’s Gopinath
Reserve Bank of India deputy governor Shyamala Gopinath says spending will have to be reined in to protect and foster the country’s economic growth
Fed’s Duke sees modest recovery ahead
Federal Reserve’s Elizabeth Duke expects credit conditions to thaw throughout the course of 2009
Let the yuan appreciate: leading Chinese think tank
Chinese Academy of Social Sciences argues for a one-off 10% appreciation of the yuan as international calls intensify
Turkish cuts beginning to ease credit markets
Central Bank of Turkey says loosening has started to produce improvements in financial sector
Taylor-rule author blasts Bernanke’s argument
Economist John Taylor says Bernanke was wrong to argue that low interest rates were not a factor in the housing bubble that led to the financial crisis
Senator who proposed Fed overhaul to retire
Senate Banking Committee chairman Chris Dodd, who produced a sweeping bill that seeks to limit Fed power, announces that he will not seek re-election
Euroclear appoints new CEO
Settlement services provider names HSBC’s Tim Howell as replacement from Pierre Francotte
Bundesbank – Monthly report (Nov 2009)
German central bank’s monthly report documents the manufacturing-led recovery in global trade and stresses the need for fiscal consolidation in 2010
Leverage constraints: the Canadian experience
Bank of Canada paper shows that domestic banks fared better in the lead up to the crisis for having leverage ceilings; highlights some practical concerns
Iceland’s president vetoes $5.5 billion repayment
Decision underlines uncertainty caused by cross-border banking collapse; sparks rating-agency downgrade
Inflation targeting insufficient: China’s Zhou
People’s Bank of China’s Zhou Xiaochuan says targeting low inflation alone is inadequate, particularly in light of the financial crisis