Central Banks
Forward guidance ‘escape clause' increases effectiveness, says Colombian paper
Incorporating a threshold into forward guidance means central banks can change course when economic conditions dictate - meaning it is welfare-improving
Lithuania governor woos eurozone counterparts
Vitas Vasiliauskas meets central bank heads across eurozone to present Lithuania’s case for entry; Marek Belka calls for review of Poland’s euro prospects
BoE must balance ‘paradox' of more eurozone integration, says Cunliffe
Deputy governor for financial stability says cost of dysfunctional single currency favours ‘inconvenient' eurozone integration
Bundesbank board approves Claudia Buch for vice-president
Current president of the Halle Institute for Economic Research will replace Sabine Lautenschläger who quit the Bundesbank last month to join the ECB
Bank of Uganda warns loss of aid is ‘source of uncertainty’
Central bank says further exchange rate depreciation in the wake of the country's new anti-homosexuality law could create ‘stronger inflationary pressures'
Mauritius has ‘missed the boat’ on sovereign sukuks, says central bank governor
Rundheersing Bheenick argues the government’s failure to issue sukuk bonds ‘severely compromises’ the country’s ability to become a regional centre for Islamic finance
Case-by-case analysis critical in deciding whether to 'lean against the wind'
Fed's Jeremy Stein highlights need to 'dig into the microeconomic details' when deciding what type of regulatory intervention is comparatively more efficient
Unorthodox monetary tools worked for Turkey, central bank research shows
The introduction of asymmetric interest rate corridor and ‘reserve option mechanism' has helped mitigate the impact of hot money flows, according to February papers
Nowotny calls on IMF to help address global spillovers
IMF surveillance function should be further developed to help overcome negative spillovers in an increasingly inter-connected world, Austria governor says
Russia hikes rates as Ukraine crisis brings financial volatility
The Bank of Russia raised rates by 150bp today in an emergency measure aimed at taming currency volatility; Ukraine brings in tighter forex controls
People: IMF hires Vitor Gaspar; Poland deputy reappointed
Former Bank of Portugal and ECB research head Vitor Gaspar will become director of fiscal affairs at the IMF; Piotr Wiesiołek handed second term at National Bank of Poland; and more
Former deputy nominated as Bank of Korea governor
South Korean president nominates Lee Ju-yeol as Kim Choong-soo’s successor; Lee spent 35 years at the central bank in his first stint including three years as a deputy
Norway oil fund sets sights on more real estate
The Government Pension Fund Global saw 16% return in 2013, driven by equities gaining 26.3% while fixed income didn't budge; real estate is a growth area
Belgian paper presents new productivity indicators
Researchers from across Europe attempt to tackle the difficulty of comparing firm-level data across the continent by creating a new database of productivity indicators for Europe
Fed transcripts reveal forecasting travails
Crisis year transcripts reveal extent to which the Federal Reserve struggled to predict the depth of recession and deflation, raising questions about the usefulness of underlying models
ECB ‘obliged' to introduce OMT to defend price stability, Draghi tells Bundesbank
ECB president Mario Draghi tells a Bundesbank symposium in Frankfurt that OMTs build on the doctrine adhered to by the German central bank for several decades
British hacker charged over Fed computer break-in
Man charged after allegedly hacking into Federal Reserve files, downloading sensitive information and posting it to the internet; charges carry prison term of up to 12 years
Permanent drop in UK risk-free rate suggests lower interest rates the 'new normal'
Bank of England's David Miles says lower returns on safe assets prompted by changed risk perceptions will keep bank's benchmark rate below historic average
Asia weathered crisis better thanks to lessons of the '90s
The Asian financial crisis of the late 1990s led the countries affected to implement policies that stood them in good stead for the global crisis of the past few years
Yellen hits back at critics over 'discriminatory' treatment of foreign banks
Following EU complaints, Fed chair tells Senate panel that new regulations are essentially the same as those faced by US banks abroad; Bitcoin is outside Fed's remit