Central Banks
Monetary and fiscal policy co-ordination needed in WAEMU, say Africa researchers
Three papers examining the West African Economic and Monetary Union find monetary policy transmission channels work well, but must be used in conjunction with helpful fiscal policy
Parliament eyes Riksbank's off-mark inflation forecasts
Report on Swedish central bank's performance in 2013 shows its inflation forecasts were off the mark; flawed forecasts have forced several central banks to upend policies in the past months
East Africa takes more steps on path to integration
East African Community agrees to expand its relationship with a regional counterpart; implements new project to harmonise payment and settlement systems
Japan FSA proposes two phases for mandatory clearing
The proposals would force financial institutions to clear their yen interest rate swaps, although insurance companies and pension funds are absent from JFSA plans
New governor for Reserve Bank of Zimbabwe
New governor takes over at a time of change for the RBZ, which is aiming to regain control over interest rates and the banking sector
BoJ’s Iwata dismisses hyperinflation fears
Bank of Japan deputy governor insists the central bank is not just committed to achieving 2% target when the economy is struggling with deflation
Financial inclusion is prompting shift in ‘the landscape of central banking’
Reserve Bank of Fiji governor believes central banks have taken a ‘lead role’ in driving financial inclusion; points to new departments dedicated to the cause
Poor co-ordination on capital controls could prove ‘highly detrimental’, paper warns
Paper presented at RBA annual conference finds significant spillover effects from US monetary policy and calls for greater co-ordination of attempts to control capital flows
ABS innovations aim to clear credit rating log-jam
Innovative way of calculating capital requirements for securitisation portfolios could take rating agencies out of the game - and put the European economy on the path to recovery
Volcker perplexed by Fed taper criticism
Former Fed chairman tells Central Banking Awards audience that central banks are ‘promising more than they can do’ and taking away ‘the punchbowl in time’ is Janet Yellen’s ‘big test’
Kocherlakota says Fed's new guidance creates uncertainty
In explanation of dissent, Narayana Kocherlakota says he would have preferred the FOMC to stick with quantitative guidance by lowering unemployment threshold to 5.5%
ECB flags pitfalls for new Estonian supervisory law
Legal opinion on draft law praises intentions but warns of a number of risks, including the potential to undermine the central bank’s independence
People: New deputy for Norges Bank; deputies depart in India and Kyrgyzstan
Jon Nicolaisen will start a six-year term as deputy governor of Norges Bank on April 1; RBI's Chakrabarty steps aside early; and more
RBA reveals details of ‘next generation’ banknote project
Quarterly bulletin gives insights into plans for the first Australian banknote change in 20 years, including new print methods, security features, stakeholder engagement and logistics
Danish paper examines effects of household leverage
Over-leveraged households saw the biggest hit to their consumption when the 2008 financial crisis struck, but the relationship broke down as the crisis continued, working paper finds
Downturn could halve capital ratios of biggest US banks, Fed stress tests show
Bank of America, Goldman Sachs, JP Morgan, Citigroup and Morgan Stanley all perform below average in Fed stress tests
Ireland’s Murphy marshals industry in support of harmonised regulation
Director of markets supervision laments ‘insufficient trans-Atlantic dialogue’ and tells asset managers who want better global harmonisation of financial regulation to make their voices heard
Robert Pringle’s Viewpoint: Storm signals over world money
Leading financial statesmen deplore governments’ neglect of the international monetary system
Kuroda: BoJ will do whatever necessary to hit 2% inflation
The Bank of Japan is right to target 2% inflation, governor Haruhiko Kuroda said today - adding the bank will not hesitate to make any adjustments necessary to get there
Weaker currency boosts Australian growth, study shows
A 10% drop in the value of the Australian dollar would boost economic growth in the country by 1% after a couple of years, RBA paper finds