Central Banks
Establishing the Fed worsened the Great Depression – St Louis Fed paper
Setting up lender of last resort reduced banks’ incentive to manage risk, paper argues
Nigerian central bank to set up national micro-lender
Leading presidential candidate says he will not give governor a second term
Brexit might allow simpler regulation for small UK firms – PRA chief
Sam Woods says “simpler, not weaker” regulation might boost both competition and safety
BoJ must normalise policy to cope with ageing population – former official
Japanese firms face labour shortages and limited ability to raise prices- Shirai
Turkish central bank makes early payout to government
Extraordinary general meeting sees CBRT agree to similar actions in future
Fall in technology use helped slow Canadian productivity, BoC paper finds
But slowdown in labour productivity began eight years before fall in technology use – researchers
Summers and co-authors find negative rates can be contractionary
Policy rate cuts below zero can lead to higher lending rates by commercial banks, authors find
Indonesia keeps rates unchanged
Governor signals benchmark rate is “almost at its peak”
Central bank’s headline inflation projections improve significantly
Central bank’s headline inflation projections improve significantly over near term, but inflation still forecast to climb to 5.3%
CBSL resorts to monetary financing amid wait for IMF talks
Central bank promises loan to government will be unwound in the first quarter of 2019; IMF talks scheduled for mid-February
Ireland ready to shield insurance policy-holders in ‘hard Brexit’ – deputy governor
Irish financial system should prove resilient if UK quits EU without a deal, Ed Sibley says
UK lawmakers demand fix for RPI miscalculation
House of Lords says Statistics Authority’s failure to fix error has left many members of public poorer
Costa Rica credit rating downgraded two notches amid persistent fiscal deficit
Fitch Ratings revised rating down despite early repayment of central bank and fiscal reforms
ECB revamps code of conduct for high-level officials
National governors and SSM board members must adhere to policy communication rules
Norges Bank excludes three companies from SWF
Central bank sanctions firms due to human rights and environmental violations
EU supervisors set out process for cross-border AML data sharing
Agreement will allow ECB and national supervisors to share data on suspected money-laundering
PBoC makes record fund injection into financial system
Central bank pumps 570 billion yuan into system via open-market operations; move follows other measures to increase liquidity amid slowing growth
CBRT holds main rate steady at 24%
Turkish central bank keeps rates high as signs emerge of a “rebalancing trend” in the economy