Articles by Central Banking Newsdesk
FSB’s Draghi on global regulation
Financial Stability Board chairman urges patience, stresses importance of political will
SNB’s Hildebrand on too big to fail
Swiss National Bank’s Philipp Hildebrand stresses that banks must be allowed to collapse without hindrance to the real economy
Financial education for all: RBI’s Chakrabarty
Reserve Bank of India deputy says education is crucial for the public and the central bank will expand outreach
Explaining wage stickiness
Bank of Estonia research suggests workforce composition, factors in individual countries and a positive relationship with competition all explain the downward rigidity of earnings
CentralBanking.com panel: it’s too soon to exit
Charles Goodhart, Paul Mortimer-Lee, Lucrezia Reichlin and Gabriel Stein concur that dangers are greater from exiting too early than too late but warn that asset prices risk becoming over inflated
Former Jamaican governor attacks PM
Recently resigned governor Derick Latibeaudiere says PM has shown a lack of respect
Mexican finance minister nominated to head central bank
Guillermo Ortiz set to step down after 12 years at the helm of the Bank of Mexico
Czech’s Tuma accuses IMF, EBRD over CEE comments
Czech National Bank governor says multilateral organisations failed to differentiate between central and eastern European countries at the height of the crisis
‘Nothing to fear but FEER itself’: CEPR paper
Centre for Economic Policy Research paper argues that there are payoffs to be had with the more sophisticated versions of carry trade strategies
SMEs are pulling through: ECB’s Tumpel-Gugerell
European Central Bank board member says small firms are the backbone of the euro economy and have done well in the crisis; outlines advantages of SEPA for SMEs
Riksbank – Financial Stability Report 2009:2
Sveriges Riksbank’s second report of the year finds conditions have improved, but emphases the brittle nature of financial markets’ confidence
BoJ’s special funds operation most effective for CP market
A Bank of Japan paper argues that outright purchases and repo operations were only briefly effective compared to the authority’s special funds operation
Greece downgraded; remains on negative watch
One of the big-three ratings agencies downgrades Greece and keeps outlook on negative
China to maintain “moderately loose” policy
People’s Bank of China indicates rates will be kept low for some time to support growth and stability; statement echoes the pledges of central economic conference
Korea labels gold rush illusory
Bank of Korea’s head of reserves management looks to downplay surge of central bank interest in bullion
Australia benefiting from Asian strength: Battellino
Reserve Bank of Australia deputy governor Ric Battellino says strong domestic demand in Asia has driven growth, and allowed the region to forge ahead of the North Atlantic in recovery
BIS on how to make stress tests better
Research examines the reasons for poor performance of stress tests pre-crisis and notes implications for their design and conduct in the future
Growth determinants revisited
International Monetary Fund research returns to the issue of cross-country growth empirics debate using a novel model
Israel minutes show division between advisers
Minutes of the Bank of Israel’s November meeting reveal one of the four advisers to the governor said rates should be left unchanged, while three voted for a 25bp hike
Ex-RBNZ head hits back at inflation-targeting critics
First governor to preside over the introduction of inflation targeting defends framework against recent criticisms
Former Fed economist calls for more stimulus
Ex-Federal Reserve official says focus must be on providing up to $6 trillion more monetary stimulus rather than exit strategies
Bank’s Bailey links rise in banknotes with turmoil
Bank of England’s Andrew Bailey says crisis has sparked rise in demand for currency; says trend reflected in other major economies
Unconventional monetary policy reviewed
Claudio Borio and Piti Disyatat set out a framework of definitions to help categorise and clarify the functions of various monetary policy tools, and assess central banks’ actions since the crisis
Reflections on liquidity crises: Borio
The BIS’s Claudio Borio discusses ten propositions on liquidity crises, including the importance of improving buffers and the need for principles on central bank liquidity provision