Central Banks
People: Quarles confirmed for Fed role; Nigerian deputy nominated
Randal Quarles approved for Fed supervisory role; banker and gender equality activist picked for Nigerian deputy position
DNB to introduce climate-related risks in its supervision
Transition to a carbon-neutral economy will also create financial stresses, Dutch central bank says
Markets upbeat on strengthening US wage growth figures
Non-farm payrolls drop slightly but wages appear to be gathering pace; figures impacted by hurricanes Irma and Harvey
Banco Sabadell relocates outside of Catalonia
The bank wants to ensure it remains under the supervision of the ECB
Research can help BoE keep pace with automation – Salmon
As algorithms continue to make markets faster, regulation will need to be adapted, says BoE director; academic research will aid central bank efforts
China’s deleveraging efforts pose global financial risks, research says
A sudden financial shock may imperil demand, trade and commodity prices
Bank of Portugal expects stronger growth in 2017
Exports are expected to boost GDP growth to 2.5% in 2017, up from 1.5% in 2016
EMs should work to avoid ‘macro-prudential war’ – BIS article
Use of macro-prudential policies should be co-ordinated internationally for maximum effect, say Luiz Pereira da Silva and Michael Chui
ECB taper unlikely to upset major European equity investors
Norway’s sovereign wealth fund is boosted by its €200 billion investment in European stocks
Cleland outlines uncertainty of future cash demand
BoE chief cashier says people will move away from cash, but the rate of change is uncertain
Disagreement over inflation expectations weakens monetary policy – Bundesbank paper
Research uses data from Fed’s survey of professional forecasters from 1968 to 2017
PNG’s Bakani defends board’s overseas travel expenses
Governor crosses swords with predecessor, who claims decision to hold board meeting overseas makes Bakani unfit to lead the central bank
Theory of inflation dynamics is not good enough, warns Tarullo
Former Fed governor says economists have “almost paradoxical” mix of scepticism towards and reliance on shaky concepts
Book notes: Econometrics as a Con Art, by Imad Moosa
Every central bank should have a copy of this interesting study, which holds common econometric practice under the microscope, writes Graham Bannock
Iraq suspends dollar payments to some Kurdish banks
Future of agreement on oil revenues unclear as country faces significant economic problems
ECB targets NPLs with tougher prudential rules
The proposed regulation will only apply to new distressed assets from January 1, 2018
Kuroda: future need not be fully centralised or decentralised
BoJ governor says both approaches to market infrastructure have pros and cons, and it is not necessary to have one or the other
RBI eyes unwelcome turnaround in India’s economy
Central bank on hold as growth slows and inflation ticks up sharply; Urjit Patel notes heightened volatility and geopolitical tensions
Payments evolution will result in bank business model changes
Mid-sized banks will have to transform business models in order to remain relevant, says Swift, as fintech and globalisation threaten traditional practices
Costa Rican central bank gets $1bn to shore up exchange rate
Regional fund offers credit line as central bank aims to boost reserves and relieve pressure on exchange rate; central bank plans a move towards inflation targeting