International Monetary Fund (IMF)
Agustín Carstens on Fed policy, shadow banking and Mexico's economic strengths
Agustín Carstens, governor of the Bank of Mexico, speaks about the work of the IMF, tackling shadow banking and how Mexico has kept a strong economic position in the midst of the financial crisis.
IMF paper considers corporate governance reform in Japan
IMF researchers say corporate governance reform could help ‘unstash the cash’ held by Japanese firms and improve the economy’s growth potential
IMF charts path towards PBoC policy rate
Staff report encourages the People’s Bank of China to stabilise borrowing costs in the interbank market as an ‘interim step’ towards establishing a policy rate
Reza Moghadam quits IMF to join Morgan Stanley in London
IMF's Europe chief to 'return home' after 22 years with the Fund, lately ‘spearheading the Fund's response from one crisis to the next'; Thomsen promoted on an interim basis
IMF warns monetary tightening could hit EM growth
Advanced economies should collaborate with emerging markets, Fund says, to mitigate spillover effects of monetary tightening; says global imbalances remain too high
Cross-border vulnerabilities should be taken more seriously, IMF paper says
Working paper says funding vulnerabilities ‘have real effects', although they have declined since the crisis due to lower exposures and increased capital levels
IMF calls for clarity on BoE monetary framework ahead of first rate hike
Bank of England ‘will need to announce soon what its new monetary control framework will be', the Fund says, adding it is ‘waiting to hear' from the bank
RMB inclusion in SDR would open way for investment by advanced economies
More advanced-economy central banks would join Swiss National Bank and invest in onshore renminbi assets if the currency was included in SDR
IMF calls on Fed to formally explain policy normalisation strategy
IMF stresses need for 'greater clarity' on how Fed intends to exit accommodative policy stance; warns use of Fed funds rate could 'pose challenge' amid balance sheet reduction
IMF staff note: Structural reforms 'more desirable' than nominal wage cuts in Europe
International Monetary Fund staff note says ‘many reforms’ are still needed in deficit countries; highlights benefits of greater fiscal integration in longer term
IMF paper finds macro-prudential polices can help prevent liquidity traps
Researchers find that debt limits and insurance requirements can help prevent economic agents from accumulating excessive leverage and triggering liquidity traps
IMF paper attempts to pin down output gap
Members of the Fund's European department build new models incorporating financial frictions to estimate the output gap in the US during the Great Moderation and beyond
IMF economist analyses effect of floods and storms on Caribbean debt-to-GDP
Both storms and floods have a negative effect on growth, IMF economist finds, but only floods affect debt in the natural disaster-hit region
Riksbank minutes reveal dispute over IMF and BIS advice
Top Swedish central bankers debate the relevance of IMF and BIS advice for monetary policy to fight financial instability; question value of input from officials that do not set policy themselves
Effective oversight needed to consolidate gains from mobile payments infrastructure
Increased diffusion of mobile payments in developing countries calls for better oversight, IMF paper says - recommending that central banks cooperate with other regulators
IMF steps up call for QE in Europe
The European Central Bank should launch a large-scale asset purchase programme if inflation does not pick up; IMF staffers untroubled by risk of asset bubbles
Balance between Hong Kong and Singapore ‘vital’ for financial stability
Researchers at the IMF find Hong Kong and Singapore complement each other as financial centres because they specialise in different markets and clienteles
IMF calls on Iceland to defend central bank credibility
As the evaluation committee prepares to interview candidates for governor, IMF visit reminds Iceland of the need for a credible and independent central bank
Incoming BoE deputy Shafik says SSM makes working with ECB more important than ever
Minouche Shafik says single supervisory mechanism will improve co-ordination with Bank of England, but that it is too early to tell whether 'huge' project will be successful
IMF paper examines banks’ public bond holdings
Working paper published by the IMF finds that large banks accumulate high-risk public bonds during sovereign crises; examines relationship with bank lending
Lagarde highlights threat of renewed EM volatility
IMF director lauds ECB assault on low interest rates and highlights importance of central bank communication as Federal Reserve continues to taper
Lagarde sets competitiveness goal for Caribbean
IMF head Christine Lagarde encourages economies in the Caribbean to address the ‘twin challenges’ of competitiveness and climate change
Macro-pru beats monetary policy for open-economy financial stability
IMF working paper uses open economy framework to show macro-prudential policies are more welfare-enhancing than interest rate rises in seeing off over-exuberance
NY Fed’s Dudley calls on Puerto Rico to improve financial reporting
‘Unique status’ means troubled Caribbean economy is not regularly surveyed by public agency like the US Census Bureau or the IMF