Central Banks
High-frequency data helps capture ‘psychological subtlety’ – BoJ paper
Study of “tick-by-tick” data finds markets have become more sensitive to the central bank’s policy announcements
Fed’s Harker: diversity and inclusion ‘are not add-ons’
Philadelphia Fed president stresses commitment to ethnic and gender diversity in a report to Congress
John Williams named president of New York Fed
Candidate proved contentious on diversity grounds, but brings deep macroeconomic experience
Russian central bank plans $19 billion loan to new ‘bad bank’
Entity will take over distressed assets from three banks that failed in 2017
Sri Lankan president takes responsibility for central bank away from PM
Prime minister faces no-confidence vote over central bank “bond scandal”
Issing sees ‘uncertain future’ for central bank independence
The eurozone architect warns central banks that overreach open themselves to political attack
South Africa’s ‘twin peaks’ regulatory model goes live
Sarb takes control of prudential regulation and new conduct regulator opens its doors
Book notes: A diary of the euro crisis in Cyprus
Panicos Demetriades’ book tells the inside story of the Cypriot crisis and how battles over central bank independence led ultimately to his resignation
Language shapes monetary policy preferences in Switzerland – research
Culture partly outweighs shared institutions and economic history in setting priorities
Risky firms can transmit financial cycle – BIS paper
Authors find smaller, younger firms are more likely to tap into global markets during risk-on phases, creating vulnerabilities
People: new Indonesian governor confirmed
Perry Warjiyo and new deputy approved in Indonesia; Richard Clarida mooted for Fed vice-chair; Central Bank of Chile appoints new deputy governor
John Williams’ candidacy for New York Fed job draws fire
Selection process criticised for failing to promote diversity among top Fed officials
Israel’s Flug calls for higher-quality labour market
Bank of Israel governor says country is close to full employment but must do more to improve labour market conditions
Bank of Mongolia gains greater independence under new law
Central bank had complained government and politically connected businessmen were too quick to dip into its funds
Basel Committee highlights best practice for early intervention
Supervisors have become more forward looking and adopted new tools since 2008 in a bid to catch trouble early