Central Banks
ECB conference tackles ‘reconciliation’ of statistics as central bank’s powers expand
Senior central bank officials from across Europe discuss the challenge of creating an integrated approach to statistics across monetary policy, financial stability and supervisory functions
Bank of Korea turns focus to stability threats after rate cut
Bank of Korea cuts rates to historic low, but shift in language indicates growing concerns over financial stability
Eurozone AQR adds to Swedish uncertainty, says Ingves
Riksbank governor says conditions for monetary policy are ‘perhaps even more uncertain than usual' due to confluence of international and domestic factors
FSB moves to tackle shadow-banking risks from SFTs
Final framework for setting haircuts on certain securities financing transactions seeks to control leverage outside the banking system and reduce procyclicality
Bank of Russia FX intervention hits $6bn
Governor Elvira Nabiullina says central bank will move ahead with switch to inflation-targeting regime as currency falls to record low
MAS holds policy on back of stubborn core inflation
Monetary Authority of Singapore says it will let the S$NEER appreciate at a 'modest and gradual' rate in its semi-annual monetary policy statement
Kuwaiti governor argues for credit ratings regulator
Mohammed Al-Hashel says rather than reducing reliance on credit ratings, he would like to see an independent institution established to ensure high-quality ratings
RBI paper: Rural wages main driver of Indian food inflation
Research published by the Reserve Bank of India says it ‘bears to reason’ there is a need to raise agricultural productivity to mitigate food price pressures
Eurozone shadow banks increase share of assets to 33%
Shadow-banking entities now own a third of the €57 trillion worth of assets in the eurozone financial system according to ECB report; expansion has ‘gathered pace’ since 2012
Top UK and US officials join forces to enhance resolution
Officials including Mark Carney and Janet Yellen meet in Washington to improve transatlantic cooperation in the event of a global banking collapse
European Court of Justice hears case against OMTs
European Central Bank’s programme for buying sovereign debt to be considered by Europe's top court; ruling could have implications for monetary policy
PBoC and Bank of Russia establishes $24.5bn swap line
Bank of Russia says deal provides opportunity to obtain liquidity 'whenever required'; trade between the two countries has more than doubled since 2008
Carney hails ‘major achievement’ on resolution stays
Isda protocol signed by 18 major banks aims to solve cross-border legal issues, preventing a ‘cascade of termination events’ that could undermine an orderly resolution
Spanish economists adapt model on business cycle conditions to forecast growth
Working paper published by the Bank of Spain extends an existing model on US business cycle conditions to forecast GDP growth in real time
Armenian central bank looks to spark inflation ‘rebound’
Central Bank of Armenia says it will continue ‘loosening’ monetary conditions as it looks to return annual CPI inflation to its 4% target
Amro revamped in agreement struck at IMF meetings
Macroeconomic Research Office will become an international organisation when agreement is ratified, 'contributing further to regional financial stability'
Central banks respond to ECB and BoE paper on ABS
Sveriges Riksbank and Reserve Bank of Australia raise concerns over proposals in discussion paper, while Central Bank of Hungary adopts a more positive tone
Plosser wants Fed to follow ‘rule-like’ monetary policy
Philadelphia Fed president says constrained discretion has been shown to produce better policy-making, citing Nobel prize-winning research
Zhou backs Chinese growth target in face of slowdown
PBoC governor says Chinese economy is on track to hit growth target of 7.5% in 2014, despite drag from the housing market; central bank deploys measures to boost real estate sector
IMF launches consultation with external advisors on Islamic finance
Fund working group looks to publish ‘staff discussion note’ on Islamic finance before the end of the year and organise a ‘high-level’ conference in 2015
Carney: G-20 summit will be ‘watershed’ in TBTF efforts
BoE governor looks ahead to G-20 meeting next month at IMF seminar on finance and ethics; describes Libor riggers as ‘totally detached’ from the consequences of their actions
PBoC chief economist sees ‘very low’ risk of hard landing
Ma Jun argues slowdown in investment will be offset by services and health care spending; describes Hong Kong-Shanghai ‘stock connect' programme as 'major breakthrough'