Central Banks
Bernanke: Past century shows ‘central banking doctrine and practice are never static'
Fed chief added recent crisis has underscored the need to strengthen and better integrate US monetary policy and financial stability frameworks
Bank of England launches mobile app for ‘virtual tourists'
New Bank of England app gives a virtual tour inside the Old Lady of Threadneedle Street
Polish banks set up joint standard for mobile payments
Participants expect the joint venture to provide a boost to non-cash trading and, by extension, business effectiveness
BIS paper finds more evidence backing ‘leaning against the wind'
Working paper by BIS and Bank of Italy researchers find such policies are desirable in the case of supply-side shocks - especially for economies with high private-sector indebtedness
Swiss working paper takes a new look at currency excess returns
Swiss National Bank working paper finds that downside risk models do not fully address the issue of foreign currency excess returns being largely unrelated to standard risk factors
Paper finds global beats local in determining short-run sovereign bond spreads
Global factors tend to drive spread changes particularly during periods of severe market stress
ECB's Cœuré welcomes commission proposal on Single Resolution Mechanism
Speaking in Paris, Cœuré says ‘strong central authority' needed as fundamental complement to the SSM
ECB monthly bulletin explains forward guidance
ECB's July bulletin sets out the thinking behind forward guidance, emphasising it is 'fully consistent with the ECB's mandate and monetary policy strategy'
People: Fed governor resigns; Bank of England HR chief finds herself new role
Elizabeth ‘Betsy' Duke to quit the Fed, 19 months after her term officially expired; BoE's executive director for human resources to take new job in the private sector
Fed minutes reveal split over tapering as ‘dovish' Bernanke calms markets
Records released on Wednesday show ‘several' FOMC members want to end asset purchases before year's end; In Q&A, Bernanke maintains ‘overall thrust of policy is highly accommodative'
Bank of Japan holds policy as economy ‘starts to recover'
BoJ confident inflation will start to rise, as starts to see signs of recovery in the economy; keeps quantitative and qualitative easing programme in place
Indonesia hikes policy rates by 50 basis points
Policy rate up to 6.5% despite falling growth; move aims to combat rising inflation, as international capital flows hit currency value
Cœuré says ECB's non-standard monetary measures targeted at financial fragmentation
The ECB board member says unconventional policies were 'designed to tackle the peculiar euro area phenomenon of financial fragmentation'
European Commission releases 'radical' proposal to appoint itself resolution arbiter
Single Resolution Mechanism proposal would see the European Commission retain control over whether banks are resolved; argues this would be legal under current treaties, though doubts persist
ECB and Macedonian central bank complete co-operation programme
ECB's Jörg Asmussen says in Skopje that a strong EU has to be based on strong national institutions; report finds Macedonian central bank ‘equal or close to EU standards in many areas'
Fed and FDIC agree 6% leverage ratio for US Sifis
Banking agencies announce rules to increase organisations' leverage ratios; measures remain controversial with the banking lobby and regulators, notably FDIC's Hoenig
Early-warning indicators needed to address failings in Solvency II - PRA chief
Effective and prudent solution needed on Solvency II matching adjustment, says Bank of England deputy governor Andrew Bailey
Fed's Williams argues for 'muted' monetary policy in uncertain economic times
Reserve Bank of San Francisco governor John Williams has examined the 'implications of uncertainty about the effects of monetary policy for optimal monetary policy'
Banque de France launches mobile app
Users can access key statistics, speeches, news and other information from the French central bank through their mobile phone
Governments must not ‘scapegoat' financial markets, says Noyer
The power the financial markets have over states is due to weak regulation and governments' over-reliance on them to finance sovereign deficits
Banknote counterfeit threat carries significant social costs, paper finds
Bank of Canada working paper shows central banks are right to ‘actively respond' to the threat of counterfeiting despite the small incidence of fraud, due to the social costs of the perceived threat
Inflation-targeting central banks respond to movements in the Fed funds rate, new research shows
A CPI inflation-based Taylor rule can implement flexible price allocation under some specific circumstances, authors say
IMF's Lagarde supports negative rates in eurozone
IMF Article IV for the eurozone backs Draghi promise to keep rates low and says negative rates would support demand and ward off deflation; ECB chief concerned that financial transactions tax will hurt monetary policy efficacy