European Central Bank (ECB)
ECB’s OMT and banking union rekindled financial integration – research
Subprime mortgage crisis interrupted progressively higher integration from 1995–2007
Italian government nominates Panetta to senior ECB role
Nominee is trained economist with over 30 years’ service at the Bank of Italy
Book notes: Economics for the common good, by Jean Tirole
The book should be well received amid the recent rise in populism
Lautenschläger resigns early from ECB governing council
News fuels speculation over German opposition to looser monetary policy
Emir data can give valuable insights on rate expectations – ECB paper
New methodology uses data on OTC transactions to track market expectations of interest rates
Swift conducts 13-second cross-border payment
Trials saw payments go from origination through to clearing and settlement in seconds
ECB prepares for ‘big bang’ move to new market infrastructure
Eurozone's payments, instant payments and securities settlement systems will merge by end of 2021
BIS’s Borio warns of ‘troubling’ negative yields
BIS quarterly review highlights new peaks in negative-yielding debt and examines CLO risks
Banks shy away from ECB’s first TLTRO III
Demand was “shockingly weak” says analyst, but firms are expected to increase their uptake in December
SNB holds despite recent ECB and Fed easing measures
Swiss central bank increases threshold on banks’ deposits exempt from negative rates
ECB’s Cœuré weighs stablecoin risks
Executive board member calls for improved global payment systems, while preserving global policy priorities
30 years of central banking
Central banks face credibility tests on a number of fronts
People: Lagarde and Mersch receive European Parliament backing
Majority of European Parliament votes in favour of new ECB president and supervisory vice-chair
Lane stresses broad consensus on ECB policy
Comments come after criticism from German and Dutch central bank governors
Dutch governor attacks ECB’s new stimulus
Klaas Knot says rate cut and QE is “disproportionate to present economic conditions”; Germany's Weidmann also critical
Denmark cuts main rate, mirroring ECB’s move
Scandinavian central bank has pegged the krone to the euro since the single currency’s launch
ECB cuts rates to new record low and re-starts QE
Deposit rate decreased to –0.5% and open-ended asset purchases launched at €20 billion a month
ECB corporate QE also transmitted through bank lending – ECB research
Spillover effect independent from banks’ balance sheet quality
ECB expected to cut rates and restart QE to boost inflation
But Draghi’s ambitious stimulus package faces growing opposition from governors in surplus countries
Poland keeps rates unchanged on lower global growth
Solid growth and strong demand push inflation slightly over target
Fed ‘boneheads’ wasting opportunity of a lifetime, Trump claims
Trump calls for negative rates and a longer balance sheet term structure
30 years of forecasting: have central banks learned anything?
Forecasting models are constantly being upgraded, but forecast errors are still persistent. What more can central banks do?
IMF’s board of governors removes age limit for new managing director
Move could pave the way for the appointment of Europe’s nominee, Kristalina Georgieva
Eurozone needs low-risk asset, ECB paper says
New asset would allow banks to change holdings of sovereign bonds, researchers argue