Central Banks
Policymakers should increase credit to ‘single-bank firms’ – paper
Researchers examine “unique natural experiment” of 2012 change to ECB’s QE policies
Sri Lankan central bank launches sweeping reforms in wake of bond scandal
Central bank tightens controls on debt management and pension fund trading after investigation uncovers malpractice
BIS paper explores effects of global factors on inflation
Authors find impact of global factors is mainly temporary, but the effects appear more significant for countries without long-established inflation targets
HKMA launches consultation on open API framework
Open API enables personalised services for bank users but requires access to customer data
NBIM eyes private equity investment in potential shake-up
Letter to finance ministry says the fund’s structure and goals make unlisted equities a wise investment, but acknowledges a 4% cap would be sensible
Central bank projections of target variables most influential - paper
Paper examines the impact of central bank forecasts and forward guidance on private sector projections, concluding most firms use them primarily as monetary policy indicators
ECB policymakers see a robust economic recovery – minutes
Rate setters satisfied with the impact of the QE extension decided in October
Higher inflation in Norway supports tighter outlook
Norges Bank brings forward its first planned rate hike to late 2018
BoJ’s cut to bond purchases not an exit strategy, say analysts
Move was unexpected, but analysts do not see it as a sign the BoJ may be preparing to exit its stimulus programmme
Fed economists tackle question of optimal balance sheet size
Cutting balance sheet would significantly reduce interest rate risk, economists find, as Fed acknowledges lower profits due to interest payments
IMF’s Obstfeld: effects of accommodative policy remain unclear
The IMF chief economist weighs up the productivity puzzle and whether monetary policy helped or hindered growth following the financial crisis
Angola drops dollar for euro in new exchange rate regime
Kwanza depreciates 11.5% against the dollar following regime change
Riksbank closer to tightening policy, governor Ingves says
Minutes show disagreements over future policy among policymakers
Irish central bank asks for criminal offence for recklessness
Personal responsibility for senior individuals should be based on UK model, says regulator
Argentina cuts rates, but keeps focus on inflation
Analysts express concerns over the decision, as inflation remains high
Fall in hours worked can flatten Phillips curve, Italian paper says
Changes to “intensive margin of labour utilisation” may make inflation less responsive to employment
Macroeconomics suffers from blind spot, says Borio
Misallocated resources can explain a large part of recent productivity slowdowns, but thinking in aggregate terms obscures this, says BIS economist
Cyclical price analysis needs major improvements – ECB paper
Researchers say DSGE models’ handling of housing prices is subject to errors
People: Peru’s Velarde bags BIS job; Belsham gets second term on BoE committee
People: Peruvian governor succeeds Poloz as Council for the America’s chair; David Belsham gets second term at Prudential Regulation Committee; and more