Central Banks
Malaysia central bank dismisses concerns over government cash handout
BNM says cash handout idea was “first mooted” by its board, dismissing the suggestion it was designed to “tempt” the Malaysian people
Tunisia raises rates by 75bp to tackle inflation
First hike under new governor comes as prices rose year-on-year by 7.1% in February
ANC shelves Sarb nationalisation plan
South African Reserve Bank safe from ownership restructuring for now, as ruling party takes time to consult with other members of the ANC and “key stakeholders”
Quarles reveals plan to simplify Volcker rule
The Volcker rule is too complex and “is not working well”, says Fed vice-chair; regulators preparing a package of “material changes”
Botswanan governor announces formation of financial stability council
Governor Pelaelo says council, formed of central bank and government officials, will be responsible for regulating and supervising the financial sector
Global shadow banking assets hit highest level since 2002 – FSB
FSB report uses data on Luxembourg for first time and examines Chinese shadow banking risks
Low rates likely to persist in global economy, Riksbank’s Ingves says
Inflationary pressures remain weak, governor says; economic growth is a prerequisite for higher price pressures
People: South Korea’s Juyeol Lee nominated for new term
South Korean president nominates Lee for fresh four-year term; SNB’s Wiedmer steps down; State Bank of Vietnam appoints new banking supervisors
Financial regulation powers pose new threats to central banks – Kganyago
Emerging markets are better equipped to deal with capital flows, Sarb governor says
IMF paper looks at how inflation anchoring affects growth
Authors examine whether low inflation and anchoring inflation are positive for growth
Economics profession needs women – San Fran Fed director
Economics facing crisis as policy continues to be made by men, says research director; young female economists should consider male counterparts as role models too
Dudley goes against Trump’s protectionist line
New York Fed president criticises protectionism as Donald Trump steps up rhetoric; questions value of excessive reserves accumulation
NY Fed paper studies when government should issue safe assets
Model implies only under certain situations should the government issue new debt; changing inflation target might be superior
ECB policy statements have moved inflation expectations – Italian paper
Researchers look at impact of ECB’s recent monetary policy statements on financial markets
Norway lowers inflation target and changes policy mandate
The new mandate emphasises the need for high employment and financial stability
Tighter policy policy may increase financial instability, researcher says
Higher rates may pressure banks’ balance sheets and increase assets held by money market funds, says paper published by San Francisco Fed
Central bankers must leave their ‘ivory towers’ – South African governor
Popular support is needed, says Central Banking’s governor of the year
Measuring Venezuela’s hyperinflation
Steve Hanke discusses how economists can make use of high-frequency exchange rate data to track rapid price movements in Venezuela
ECB paper models impact of monetary policy announcements
Model tries to “disentangle” impact of two kinds of information
Italian paper looks at eurozone firms' capital costs
Fall in borrowing costs in periphery due to balance sheet improvements, researchers find
Authorities can’t rely on monetary policy to fight next crisis – Rohde
Danish governor says rebuilding capital buffers should be a priority