Articles by William Towning
Croatian governor warns ECB spillovers are raising real estate prices
IMF should advise less separation between macro-prudential and monetary tools, Boris Vujčić says
‘Hegemonic digital currency’ could help fix global system – Carney
Using CBDC to facilitate online sales could bring about more rapid change, governor says
Bankers are ignoring crypto assets’ flaws – expert
Technologists are more worried than financiers by problems, expert tells IMF panel
Africa faces debt crisis, Banque de France governor warns
G20 nations must act fast to tackle rising African debt, François Villeroy de Galhau tells IMF meeting
Bahamas takes steps towards digital currency as legal tender
Central bank proposes changes to governing law to give itself authority to issue a CBDC
Fed opts for asset purchases as liquidity solution
Central bank chooses not to address possible plumbing issues – at least for now
ECB and Fed unite on global currency standard
The two central banks want to create the ‘USB of currency processing’
Financial plumbing might be ‘rusty or clogged’ – Philadelphia Fed president
Patrick Harker calls for review of the US’s money market plumbing
Economists propose solutions to Fed’s liquidity problem
New York Fed prepares for sustained series of interventions in coming weeks
Fed cuts rates and makes further ‘technical adjustment’
Fed doesn’t see funding pressure episode having implications for its ability to control rates
New York Fed provides emergency repo market support
Overnight rates surged on September 17, breaching the Fed’s policy rate target band
Global growth will strengthen in 2020, says strategist
Central banks should be cautious about responding to manufacturing slowdown, Kevin Gardiner says; Fed likely to cut again in September 18 decision
Fed policy is reinforcing overvalued equities, Shiller warns
Robert Shiller talks to Central Banking about his latest research, “Narrative Economics”
How data is driving a counter-revolution in cash
As the payments landscape undergoes far-reaching changes, central banks are mobilising new data tools and technologies to better understand and serve demands for physical currency
FOMC members appear split as meeting nears
Rosengren says “no immediate” need to cut, while Bullard urges Fed to take “aggressive” steps
Modernising currency management
Central banks continue to strive to optimise currency operations at a time when the relative importance of cash is falling, but usage continues to grow. William Towning looks back at the last 30 years
Fed economists propose alternative to floor system
Pre-crisis BoE framework may preclude need for further ‘technical adjustments’, researchers say
US senator calls for hearings on Fed’s role in 2020 elections
Republican accuses former NY Fed chair Dudley of trying “sabotage” Trump’s trade talks
Kansas Fed develops real-time GDP tracker
The tracker builds on previous work by combining two forecast models
RBNZ takes further steps to improve regulation and oversight
Regulators’ new “vision” incorporates climate change and social inclusion
The future of balance sheet policies
Central banks are expected to resort to a range of balance sheet activities to fight the next downturn. William Towning investigates what tactics they may deploy
Fed cuts rates and halts balance sheet reduction
Decision sees hawkish dissents from Kansas and Boston Fed presidents Esther George and Eric Rosengren
Markets diverge on how far Fed will go
“There may be volatility in the markets later this week,” Fed-watcher says
Fed’s floor could be ‘junked’ if credit surges – Goodhart
Credit demand and plentiful liquidity could be potent inflationary mix, Charles Goodhart says