Central Banks
Zimbabwe central bank has ‘little choice’ but to increase bond notes
Research says bond-note expansion sets the country on path to de-dollarisation; rise in tobacco output and gold prices unlikely to offer sufficient liquidity relief
BoE paper mulls tensions in PRA competition objective
Paul Fisher and Paul Grout argue a secondary competition objective can be made to work without clashing with primary objectives
Emergency liquidity fund set up for stressed Russian banks
Move follows the Bank of Russia taking effective control of a systemically important lender
Norway’s oil fund recommends bond portfolio shake-up
NBIM managers recommend cutting riskier investments from bond benchmark index to improve flexibility and alignment with its goals
St Louis Fed explains Fed’s plans to unwind balance sheet
Fed expected to stop replacing maturing securities to reduce $4.5 trillion balance sheet
Uzbekistan poised to float currency
From September 5, restrictions on foreign exchange trading will be lifted, paving the way for a new operational framework at the central bank
IMF explores Balkan female employment conundrum
Fund shows policies are needed to secure both supply and inclusion of women; quality of institutions should be improved
Russia could spend $7 billion on bailout – deputy governor
Commercial bank’s mismanagement of liquidity problem led to avoidable crisis – analyst
New board oversight will not “lower the bar” – Fed’s Powell
The proposed new regulation will not lower the bar for boards or lighten the load of directors, says the Fed governor
Bank of Mexico revises upwards its economic forecasts
Inflation is projected to return to the 3% target in 2018 and growth to be higher than expected, says governor
BoE authors outline machine learning framework
Paper offers guide to machine learning in central bank analysis, and sets out a few examples relevant to policy
Fed paper explores balance sheet effects of liquidity rules
Study of how banks allocate portfolios of liquid assets highlights implications for monetary policy
Paper challenges Rey’s ideas on global financial cycle
Cerutti, Claessens and Rose contest idea that capital flows are mainly the result of common shocks or developments in the US
BSP launches reforms to spur domestic debt market growth
The country aims to develop its domestic capital market to finance its massive infrastructure program; reforms will be undertaken over a period of 18 months
Graeme Wheeler: LVR restrictions seem to be working
RBNZ governor looks back over five turbulent years; says housing market restrictions have reduced systemic risk and the market seems to be cooling
FSB urges Argentina to review macro-pru framework
International body encourages the central bank to consider creating financial stability committee, while improving co-ordination with regional regulators
RBI data casts doubt on value of demonetisation
Scheme receives fresh criticism after revelation that 99% of all notes have been returned; RBI emphasises long-term benefits