Central Banks
ECB’s chief economist takes to Twitter
Praet expresses scepticism about dual mandate and rejects ‘modern monetary theory’
Developed world needs fiscal boost – Romanian deputy governor
Once wages recover pre-crisis level, inflation will rise fast, research finds
Libyan central bank issues first polymer banknotes
One of the country’s rival central banks collaborates with De La Rue
Turkey’s monetary policy will depend on fiscal caution, central bank says
Minutes say MPC could further tighten policy if the government fails to deliver on promises
People: Rajan keeps options open on BoE top job
Rajan leaves open possibility of taking on BoE governorship; Al Hamidy reappointed at Arab Monetary Fund; government observer joins RBNZ MPC meetings; and more
IMF paper looks at central banks’ use of forex reserves
Reserves used more for liquidity than for investment in decade since financial crisis, researchers find
Book notes: Finance and philosophy, by Alex J Pollock
A readable and useful book that provides much food for thought, and should be read widely by economists and policy-makers
Slovakian president says new governor must give up party ties
Finance minister Peter Kažimir says he will resign parliamentary seat soon
Supervisory compliance weaker on 55% of Basel III principles – IMF
FSAP reports uncover potentially worrying trend on financial supervision since mid-2013
Summers and Rachel set out fresh evidence on secular stagnation
Policy-makers may need to rethink their approach in a world of ultra-low real rates, authors say
Triple reserve managers safeguard Singapore’s stability – Ravi Menon
Menon explains the separate roles of the three institutions managing national financial resources
Yi Gang makes People’s Congress debut as dilemmas grow
Governor says he sees smaller room for cutting reserve requirement ratios in 2019 but does not rule out the possibility
Experts debate regulatory support for energy-hungry technology
Blockchain requires a vast amount of energy, which could become detrimental for the planet should the technology be adopted more quickly
Non-financial firms finance the economy – BIS paper
Authors find non-financial firms act as important intermediators and take on forex risks
PBoC independence would help China’s exchange rate goals – IMF paper
Researcher recommends four China-specific policies to support greater exchange rate flexibility
IMF says Gambian central bank is managing well
Significant policy rate cuts are “appropriate” in light of falling inflation, IMF report says