Central Banks
AI adoption lag could explain productivity shortfall – research
Erik Brynjolfsson, Daniel Rock and Chad Syverson argue the productivity slowdown is not as surprising as it may seem, and there are reasons to be hopeful
Eurosystem is less transparent and efficient than Fed, research finds
European central banking structure is twice as expensive as its US equivalent
Korea suffering from ‘missing inflation’ – deputy governor
Core inflation is still in the mid-1% range despite economic improvement
Making the most of big data
Per Nymand-Andersen, adviser to senior management at the European Central Bank, discusses how central banks can benefit from embracing big data and what this could mean for the industry in the near future.
ECB defends Draghi’s membership of G30 to EU watchdog
ECB praises chance for “dynamic debate” and rejects NGO’s claim of lack of transparency
New York Fed’s Dudley set to retire early
William Dudley says he wants to ensure a successor is in place “well before” the end of his term
Mauritius governor opens new currency museum named after first governor
Museum ‘Aunauth Beejadhur’ will exhibit Mauritian currency throughout the ages, with plans to expand scope to include financial literacy at a later date
PBoC’s Zhou warns of ‘sudden’ contagion risks
Governor continues with tough line on financial imbalances as he prepares to hand the reins to an as-yet-unnamed successor
Bank of Spain warns Catalan crisis may cut growth by 60%
Uncertainty could imperil Spain’s recovery and reduce growth by 2.5% of GDP until late 2019
Uruguay launches digital currency pilot
10,000 users will have access to the network, run in conjunction with the state-owned telecoms company and national payments system
Central Bank of Barbados governor ‘concerned’ about level of reserves
Barbados central bank tweaks securities requirement ratio amid foreign exchange shortage; less than 10 weeks of import coverage remain
Big data in central banks: 2017 survey
As an active area for new projects, big data is becoming a fixture in policymaking, with an increasing number of central banks carving out a budget for data handling, writes Emma Glass.
Collaboration is key to central banks making the most of data
As data becomes increasingly significant for central banks, working with the right people and employing the right approaches is central to meeting objectives, says Maciej Piechocki of BearingPoint.
People: Powell and Yellen comment on Fed chair pick; FPC member appointed
Nominee as Fed chair praises predecessors; UK’s FPC has new external member; and more
High debt threatens financial stability in Norway, central bank says
Household debt ratios and rising property prices are the two main vulnerabilities for the system
European firms’ net debt cramped investment, Bank of Italy paper finds
Paper looks at eurozone and UK firms from 2006 to 2012
‘Black box’ AI could pose macro risks – FSB
Rise of artificial intelligence in finance may promote efficiency, but it can be hard to tell where the dangers lie, report finds
BIS paper surveys financial shocks in Latin America
Authors study the most effective policy response to financial shocks in different countries