Central Banks
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
ECB expected to cut rates and restart QE to boost inflation
But Draghi’s ambitious stimulus package faces growing opposition from governors in surplus countries
Poland keeps rates unchanged on lower global growth
Solid growth and strong demand push inflation slightly over target
Fed ‘boneheads’ wasting opportunity of a lifetime, Trump claims
Trump calls for negative rates and a longer balance sheet term structure
Aussie regulator signals tougher misconduct stance
Asic warns it will use new powers to punish misconduct in wake of excoriating Royal Commission review
UK regulator seeks ways to ‘open up’ payments data
PSR says “synthetic data” could be used in trials to protect confidentiality
Law could help central banks fight the next recession
Brookings panel discusses using countercyclical regulations to boost spending at the ZLB
Shared supervision can help avoid ‘capture’ – BoE paper
Dividing tasks across agencies can lead to better outcomes by avoiding “supervisory capture”
Five insights into China’s green finance transformation
China’s top-down, state-directed mechanism may be the most effective way to embed green finance in a timely manner, writes the PBoC’s Ma Jun
RBI weighs plan to boost securitisation market
Government-sponsored intermediary could be formed to act as market maker and standard setter
Venezuela uses Bank of Spain to carry out international transfers
Maduro regime faces sanctions to prevent it accessing US financial system
High public debt hampers fiscal stimulus in eurozone – Bank of Portugal research
High debt deepens crises, increases spillover effects and cuts scope for counter-cyclical fiscal policy
Trade uncertainty ‘surging’ in many countries, IMF warns
New IMF index tracks trade uncertainty across the globe
Bundesbank launches architectural design competition for new campus
German central bank will refurbish and augment its campus in Frankfurt am Main
Fed proposes new capital rule for insurance firms
Fed does not anticipate firms would have to raise new capital
Machine learning can produce better forecasts – RBI paper
ML tends to outperform standard models, but combining forecasts is best, authors say
Macro-pru is no panacea
Many central banks need better macro-prudential policy frameworks and communication at a time of rising political interference
Georgieva emerges as sole contender for IMF top job
Bulgarian national set for managing director role as no challenger comes forward
UK lawmakers call for transparency on BoE governor appointment
MPs call on finance minister to make shortlist public as survey highlights trust deficit
IMF research flags urgent need for climate policy framework
Co-ordination of fiscal, financial and monetary instruments will be needed, say authors
BIS paper tracks new channel for funding ‘dry-ups’
A squeeze in one market can spill over to institutions with no direct exposure, authors find
Bank of Israel research derives growth estimate from survey data
Researchers construct real-time indicator that can be produced earlier than nowcasts
MAS launches initiative to help payment firms with compliance
Two-month pilot will help connect payment firms with legal service providers