Central Banks
BoE’s Cunliffe defends dissenting vote
Deputy governor says uncertainty over Phillips curve implies policymakers should act cautiously
RBNZ cracks down on Westpac over modelling breach
Central bank imposes capital penalty after uncovering failings related to use of internal models
TCH launches real-time payment platform in US
Firm launches US’s first real-time payment system, cutting transaction times from days to seconds
Race to replace Agustín Carstens enters final stages
With less than a month to go before Bank of Mexico governor Carstens retires, analysts review potential candidates
IMF’s Lipton urges eurozone to speed up banking union
First deputy managing director says Europe should capitalise on support for euro and ensure uniform capital market regulation is in place
Central banks should combine monetary rules to achieve objectives – research
Estimates based on different models should be updated regularly, authors say
Forward guidance essential in times of stress – Fed’s Evans
Chicago Fed president says central banks should plan for inevitable future scenarios now, in order to best prepare the public and to ensure policies are understood
Communication key to convey policies and objectives to public, central bankers say
Yellen, Draghi, Kuroda and Carney reflect on reaction of markets and public to policy communication
Productivity puzzles and the neutral rate of interest
Monetary policy frameworks should be subjected to internal and external reviews to ensure they remain fit for purpose
Sarb rejects postponement calls from public prosecutor
Central bank does not accept Mkhwebane’s latest court request; claims her reasoning is false and “overly exaggerated”
DLT set to make central banks ‘obsolete’ as payment operators – report
Second phase of MAS’s Project Ubin deemed a success as central bank manages to deploy RTGS system on DLT fabric
Book notes: The Right Balance for Banks, by William Cline
An interesting analysis of optimal capital requirements for G-Sibs, examining whether Basel III requirements will be enough to stem another financial crisis
Hong Kong seeks mobile wallet capabilities in China
Authorities in drive to ensure Hong Kong mobile phone e-payments work in China; faster payments roll-out due next year but no urgent rush to go cashless, says HKMA official
Austrian paper takes detailed look at regulatory integration within EU
Researcher uses “bilateral nature” of EU reforms to help gauge effects
ECB article warns of possible effects of a Chinese slowdown
Looser Chinese monetary policy in response to problems could have significant effect
Accommodative policies can continue in Europe due to weak inflation, IMF says
Reduction of non-performing loans in weak banks remains a priority
BoE to run Chaps payment system
UK central bank moves to “direct delivery model” to operate entire high-value payment system as it looks to implement RTGS overhaul
Fed’s Harker ‘pencils in’ rate hike for December
Philadelphia Fed governor expects rates to rise 25bps before 2018, adding balance sheet normalisation is likely to “take some time”
Book notes: Hole in the Wall, by James Shepherd-Barron
Cash machines have changed the way cash is managed, but is there a future for such machines in a world looking to go cashless?