Central Banks
Czech exchange rate floor helped fight deflation – IMF paper
Range of methods imply the exchange rate floor was an effective measure, having been employed after hitting the zero lower bound
‘Fault lines’ may be re-emerging, warns Bini Smaghi
Societe Generale chairman says supervisors should not rest easy until they have a better understanding of the “fundamental causes” of financial crises
Sarb concerned with KPMG audits in South Africa
Auditor reshuffles local leadership and carries out investigation, but may lose major clients
Central banks may be thinking wrongly about inflation – Borio
BIS economist says inflation may not always and everywhere be a monetary phenomenon, which could help explain why the natural rate is so low
Bank of Russia will be able to handle fallout from failing banks, analysts say
Central bank puts two more banks into administration; observers disagree over effectiveness of Nabiullina’s reform efforts
HKMA pledges $1bn to IFC infrastructure platform
HKMA commits $1 billion of its Exchange Fund to International Finance Corporation’s syndicated loan platform to invest in infrastructure projects
Banks fear uneven playing field on NSFR
Asian jurisdictions are likely to implement the key liquidity metric before the US and Europe
Don Kohn extols virtues of co-operation across policy domains
Good communication between policymakers in different spheres and complementary policy action can bring significant benefits, FPC member says
IMF’s Lagarde gives update on women’s empowerment pledges
The fund has teamed up with the UK to provide ‘gender-budgeting’ assistance to countries requesting financial management support
Riksbank welcomes higher inflation
Minutes of last monetary policy meeting caution krona has appreciated faster than previously forecast
ECB develops new overnight benchmark rate
The new rate will complement the existing overnight benchmark, Eonia
RBNZ proposes tougher rules for bank outsourcing
Banks must show they can open at 9am the day after entering resolution; foreign-owned banks need to supply separation plans
FOMC triggers balance sheet wind-down
Fed will begin allowing securities to roll off its balance sheet from October; Janet Yellen stresses changes will proceed gradually
MAS’s Chia points to the value of EM bonds
Singapore’s reserves and markets chief says interest in onshore Chinese bonds may act as a catalyst for emerging market bonds at a time when the outlook for yields from traditional reserve assets remains low
ECB paper attempts rigorous testing of economic sentiment
Researchers correlate economic data from 1985 to 2016 with measures of sentiment
Argentine central bank can progress without independence law – chief economist
Pablo Neumeyer says current policies are working and may create the consensus for future law
Bank of Russia provides emergency liquidity to large commercial bank
Assistance to B&N Bank follows failure of country’s eighth-largest bank last month
Gambian ex-governor says he feared for his family’s life under deposed president
Former governor tells tribunal he obeyed orders to open accounts and hand over cash