Articles by Daniel Hinge
China grapples with balance of financial reform and risk
The Chinese government is keen to encourage financial markets to catch up with manufacturing’s sophistication. But balancing liberalisation with stability and growth is proving complex
Economists expect last-minute Greek deal
With Greek finances still looking close to collapse, Central Banking asks a group of economists what the consequences of a last-minute agreement or default might be
Jeffrey Frankel argues for NGDP targeting by EMs
Monetary economist says targeting nominal GDP could allow emerging and developing countries to more credibly establish a nominal anchor
People: Fed names payments director; Denmark appoints assistant governors
Federal Reserve chooses Gordon Werkema to lead its new payments strategy; Denmark promotes director of administration and adds second assistant governor; and more
Book notes: Smart Money, by Andrew Palmer
An important attempt to show how financial innovation is “reshaping our world for the better” all the more important
Riksbank launches streamlined financial stability report
Shorter, more focused report aims to send clearer message to readers; follows close on the heels of a redesigned monetary policy report
BoE concerned by broken long-term investment incentives
FPC continues work on procyclicality and short-termism among pension funds and insurers, but participants at event in London suggest others may now need to pick up the baton
Collateral impact from eurozone QE still unclear, says Euroclear’s Evenepoel
Effect of new liquidity regulations and eurozone quantitative easing on collateral is still uncertain, but the market is ‘always creative’, according to Euroclear’s head of treasury
Historic BoE minutes shed light on troublesome money supply targets
Court minutes from the era of money supply targeting highlight the central bank’s struggle to control inflation amid unclear indicators and an occasionally fractious relationship with government
Eurozone moving towards ‘single market for collateral’, say central bankers
Panellists from Belgian, French and Dutch central banks discuss moves towards harmonised collateral markets in Europe at conference in Brussels
Repo market coping with liquidity regulations for now, panellists say
Participants at Euroclear’s Collateral Conference say repo markets have delivered new efficiency gains to keep collateral supply up, but the outlook over the coming year looks less certain
In search of a better measure of inflation
Hedonic adjustments offer a way of tackling bias in the CPI, albeit at a cost, but new research suggests even these may be misrepresenting inflation – with broad implications for the economy
BoE unearths new evidence on UK productivity puzzle
Latest inflation report includes new research suggesting temporary ‘compositional’ factors may be dragging on productivity growth; inflation path revised up slightly and growth down
Constâncio suggests new shadow bank powers for Esma
ECB vice-president again underlines need for supervisors to take on new tools and responsibilities for tackling shadow banks, but suggests at least some may be wielded by other bodies
Gieve: BoE rate hike likely to hinge on election outcome
Former deputy governor John Gieve says victor in May 7 poll will impact BoE’s tightening decision; panellists warn of high uncertainty as no party likely to win outright majority
Early contenders emerge as Irish governor announces departure
Central Bank of Ireland governor announces intention to retire later this year, with a handful of names already surfacing as possible successors
Riksbank ramps up QE
Asset purchase programme doubled but unexpected rate hold sees krona move higher; Riksbank highlights both signs of recovery and rising financial stability risks in new monetary policy report
Norges Bank’s Olsen backs ‘leaning against the wind’
Øystein Olsen presents evidence in favour of using monetary policy to lean against financial imbalances, which he says smooths inflation and output in the long run
Riksbank seeks greater clarity with redesigned monetary policy report
Shorter report aims to focus more on analysis and less on detailed data reporting, with new layout to boost readability; head of forecasting says design process drew on years of feedback
Lithuania bought 1.6 tonnes of gold as part of euro switch
Purchases representing around 25% of total gold holdings made during switch to euro; Bank of Lithuania investment director tells Central Banking investments are now more diverse
BoE minutes remind markets not to be complacent
Minutes show MPC firmly positioned for coming rate hike; economists suggest central bank may be warning markets they have overestimated willingness for easing
Fed’s Claessens challenges banking Balkanisation theories
Theories emphasising the collapse in cross-border credit since the financial crisis fail to capture a ‘secular trend’ towards emerging markets, says Fed senior adviser
Economists split on reality of cross-border co-operation
Panelists at an event in London see continued obstacles to countries working together effectively during a crisis, although regional co-operation could be a partial solution
Sri Lanka’s Mahendran cleared of direct involvement in bond scandal
Governor not directly involved with irregularities in treasury bond auction, but tighter supervision of central bank operations is needed, committee finds