Central Banks
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
MAS working to keep crypto-currencies and ICOs under control
Authority is mulling how to respond to the growth of crypto-currencies and initial coin offerings
Data shows growing medium-term risk for global economy – IMF
Researchers assess three types of financial data as predictors of GDP growth risk
Developing states can improve inflation targeting – IMF paper
The research finds a bias in favour of results in line with the academic consensus
Yellen defends contentious FSOC decision on AIG
Top regulators narrowly vote to remove AIG’s designation as systemic, exposing sharply contradicting views on the Financial Stability Oversight Committee
Neural network can beat conventional forecasts – Kansas City Fed research
Deep learning model outperforms Survey of Professional Forecasters at all horizons
Perng Fai-nan on how Taiwan has eluded crisis for 20 years
Taiwan’s governor explains how pragmatic interventions have engendered two decades of financial stability, despite the island’s status as a small, open economy