Central Banks
‘Animal spirits’ are real, DNB paper says
Researchers analyse data on household spending and consumer confidence
China will need more stimulus if trade tensions rise – IMF staff
IMF staff say China’s financial system still has “elevated” vulnerability
Brazilian central bank will sell dollars outright for first time since 2009
Central bank says it remains committed to floating currency regime
Fed paper looks at negative rates’ impact on eurozone banks
Effects of policy rate cuts on equity change past the zero lower bound, researchers say
Bank of Finland paper studies impact of China’s credit channel
Monetary policy’s effects on credit have significant impacts on economic activity, researchers say
Central banking’s 30-year cycle
Central banking has hit another crossroads, writes Central Banking founder Robert Pringle
Negative ECB deposit rate had limited effects – Bundesbank paper
Well-capitalised banks in core countries responded most to negative rates, researchers find
ECB criticises Polish draft law on mortgages
Proposal would harm banks’ financing ability and hinder emergence of securities markets
BoE under pressure with July inflation release
Bank of England must deal with recent fall in GDP and Brexit uncertainty
ECB’s bond purchases restrict monetary policy – DNB paper
Higher demand for safe assets widens bond yields and cuts policy transmission, says researcher
Argentine central bank tries to halt peso’s slide
Peso falls after primary election results come as blow for President Macri
MAS policy stance unchanged despite falling growth
Singaporean government cuts growth forecasts as analysts predict October rate cut
Central banks should use direct lending in shocks – BIS paper
Lending to firms directly could reduce welfare loss during financial shocks, researchers say
Slovenian central bank reports good stress test results
Central bank has had long-running dispute with government over bank bail-ins
People: Brazilian government nominates World Bank official for deputy governor role
Sri Lanka names monetary policy board member; Bank of Ghana governor appointed to FSB role
ECB’s asset purchases didn’t always stimulate bank lending – research
Sounder banks reduced lending to non-financial firms, Bundesbank paper finds
Eurozone bank productivity growth fell over last decade – ECB paper
Researchers try to quantify eurozone banks’ total factor productivity growth
Rate cuts support Australia’s economy – RBA assistant governor
RBA cuts rates to record lows in two successive months as GDP growth slows
IMF has no back-up plan to Fed swap lines
Financial counsellor says no plans in the works for emergency dollar funding backstop
The IMF should adopt a ‘real SDR’
The creation of a vibrant market in SDR linked to commodity prices could create a powerful new monetary anchor, argues Warren Coats