Central Banks
Australia risks shortage of economists, warns RBA’s Dwyer
Students are tending to choose business studies over economics, says the RBA’s head of information; central bank is trying to reverse the trend
FDIC’s Hoenig warns on relaxing bank capital requirements
The Trump administration claims regulations hamper lending and economic growth, but Thomas Hoenig argues capital is an essential source of funding for banks
RBI makes first rate cut of 2017
Inflation is at a record low, and growth is forecast to rebound, although the RBI is still concerned about weak transmission of the policy rate
Sri Lanka issues first t-bonds under new transparent framework
Both maturities offered were oversubscribed in phase one, says central bank
Serbia’s Tabaković deems NPL action plan a success
Proportion of NPLs has fallen by 6% since 2015, says governor
UK economy vulnerable to consumption-led recession
Fragile consumer spending could take a toll on growth, former BoE officials warn, leaving the central bank with a tough job ahead
Stanley Fischer analyses the factors behind low real interest rates
The economist emphasises government policy uncertainty in the US regarding health care, regulation, taxes and trade, as well as higher savings and weak investment
Malaysia starts to feel effects of Fed rate hikes
Fed rate hike in June reversed flows into Malaysian financial markets, leading to an increase in yields, a deprecation of the ringgit and a fall in the stock market; Thailand appears less affected
Banks’ funding plans need ‘careful monitoring’, EBA says
Planned increase in MREL issuances in 2018–09 may cause problems, report warns
Fed’s Brainard says US is ‘falling short’ in diversifying economics
Federal Reserve Board governor highlights the benefits of diversifying the economics profession, urging students to consider a career before “shutting the door”
Banks not ‘boring’ before Glass-Steagall repeal, New York Fed economist says
There is little evidence of an explosion in non-traditional activity after Glass-Steagall was dropped, despite the conventional narrative, economist says
Tax cuts should focus on income from capital, French paper argues
Cutting taxation on labour is less effective in boosting growth, researchers say
BoE workers walk out over continuing pay dispute
Workers launch first of three days of strike action amid complaint over fairness of pay awards, with possibility of further escalation
People: RBI deputy retires; Paraguay elects new board member
RBI reshuffles responsibilities as deputy retires; Paraguay elects new board member; FCA launches new role in Scotland
HKMA’s investment team “on guard” for turbulence later in the year
HKMA deputy chief executive warns of an undercurrent of market uncertainties in the second half of the year, after fund made record returns in the first half
QE could create balance sheet problems – Irish deputy governor
Eurozone’s asset purchase programme increases the interest rate risk for central banks, Donnery and co-authors write
Weaker franc gives SNB newfound leeway
The central bank may be able to slow or halt its massive foreign exchange acquisitions as the Swiss franc hits its lowest level against the euro since January 2015
Future of renminbi looks bright – Swift
The proportion of international payments denominated in renminbi falls to less than 2%, but the number of institutions using the currency increases