Central Banks
Book notes: EuroTragedy, by Ashoka Mody
The former International Monetary Fund insider elegantly tells the story of the creation of the currency that has defied economics, warning that it could get “worse, much worse”
Spending behaviour in unemployment does not fit with rational models – paper
Behavioural models of “present-biased or myopic” choices fit better with the data, authors say
Coomaraswamy sees hope for IMF programme as political crisis fades
Sri Lankan Prime Minister reinstated, paving the way for economic reforms; central bank close to adopting flexible inflation target
Israel’s Yaron adopts cautious stance in first meeting
Central bank on hold as downside risks threaten the outlook
Ghana's central bank closes two banks and plans to recapitalise five more
Three banks to merge as financial sector reform effort continues
Blanchard calls for rethink on costs of debt
Fiscal cost of public debt may be zero, macroeconomist argues, but that does not make debt costless
Powell sends cautious message to markets
Bernanke says he and Yellen “very lucky” to have served under presidents who respected Fed independence; Powell pledges not to step down
FCA opens temporary permissions regime application window
Firms have until March 28 to notify the UK regulator
India vulnerable to oil shocks – RBI research
Study weighs effects of oil shocks on current account, inflation and government finances
Iran to cut four zeros from currency
Currency continues to depreciate, inflation climbs and growth slows
US interbank market may not recover from QE – Fed paper
Authors warn shrinking the Fed balance sheet might not be enough to revive the market
Turkish central bank to hold extraordinary general meeting
January meeting likely to see early profit distribution to government, ahead of local elections
New governor starts work at Belgian central bank
Former vice-governor Pierre Wunsch is backed by centre-right Francophone party
Denmark intervenes to maintain euro peg
A rate hike is “very likely” if intervention continues, analyst says
US payrolls data proves strong
Non-farm payrolls beat expectations and wage growth rises, despite fears of a global slowdown