Central Banks
Early asset purchases much more successful – BIS paper
Authors find effectiveness falls over time as the shock wears off, questioning the value of long-running quantitative easing
Senior figure steps down from Irish central bank
Mary O’Dea was interim head of Ireland’s financial regulator during financial crisis of 2009
Weak inflation in Nordic countries likely to keep rates on hold
Sveriges Riksbank and Norges Bank set to prolong their dovish stances in last policy meeting of 2017; Iceland holds rates
Lower inflation brings relief for Argentina’s central bank
Central bank leaves interest rates on hold at 28.75%, as year-on-year inflation lowers to 22.5%
Central banks and supervisors launch green finance group
Seven central banks and two supervisory authorities found network to tackle climate risks and promote green finance
Roi to vacate Mauritian governorship in January 2018
Experienced first deputy Googoolye to take over for three-year term, having already served as interim twice over the past decade
Malaysia’s Ibrahim warns of costs of not turning digital
Bank Negara governor outlines plans to push consumers towards e-payments, as the cost of cheque processing weighs on the economy
Russian central bank becomes sole shareholder in failed bank
Central bank injects approximately $7.7 billion into Otkritie
UK inflation breaks out of target band
Inflation now above the BoE’s 3% upper limit, though breach may prove temporary
Financial distress in the US is concentrated in a small percentage of consumers
Around 10% of consumers account for 50% of all distress events, research finds
India needs radical reforms, says academic
State ownership has gone too far but the state needs stronger capabilities in other areas, argues Vijay Joshi
Denmark ‘not heading for cashless society’ – research
Central bank recognises cash transactions are in decline, but says consumers will always have the option to pay with cash
Rupee drops as SBP tackles reserves decline
Pakistani rupee down nearly 4% after central bank triggers “market-driven adjustment”
IMF suggests changes to Mauritian monetary policy framework
Lack of clarity in current framework risks “undermining” the credibility of monetary policy, report says; medium-term inflation target of 3% should be implemented
Mortgage modifications were key to cutting Irish NPLs
Scale of modifications was larger than previously thought, research finds
Quick action needed to tackle housing busts – RBNZ paper
Paper studies housing busts around the world and how best to respond to them
Policymakers need wider range of systemic risk models – paper
Researchers attempt to combine systemic importance and systemic risk approaches
High private debt imperils financial stability in Norway, research finds
Households most at risk of shrinking their expenditure account for 50% of private consumption
BoE paper lays out ‘financial conditions index’ for UK
Index proves valuable as a summary measure and also as an input to forecasting
Bank of England operations could leave London under Labour government
Report envisages BoE’s regional offices becoming part of national investment strategy; inflation mandate could also be changed
Adrian Orr to lead RBNZ in 2018
Former deputy takes over at a time when the central bank mandate is being called into question; Grant Spencer sets sights on retirement