International Monetary Fund (IMF)
IMF report highlights macro-prudential challenges
Kohn and Viñals talk of key role for central banks in macro-prudential framework; report singles out challenges faced by national authorities in setting up macro-prudential policy frameworks
IMF paper says ageing populations are dampening impact of monetary policy
Working paper says monetary policy is becoming less effective in advanced economies undergoing demographic shift; calls for policy-makers to adapt
G-20 leaders vow co-operation to avoid monetary policy spillover
St Petersburg summit sees IMF concede advanced economies are now the major engines of global growth; European banking union is a top priority in the G-20's joint ‘action plan'
Riksbank holds rates as IMF sees ‘sizeable' risks at Swedish banks
Interest rates held at 1% as Swedish central bank attempts to support growth without adding to household debt stock; IMF Article IV report frets over large and vulnerable financial system
IMF paper considers impact of China’s capital account liberalisation
Researchers suggest that reduced capital control will likely lead to net outflows from equity and bond markets as domestic investors look to diversify
IMF paper finds less tail risk in immediate aftermath of QE
IMF working paper finds ‘strong evidence' that unconventional monetary policy led to a reduction in market uncertainty, in turn contributing to an easing in financial conditions
Bank of Brazil hikes rates for the fourth time in as many months
Brazilian central bank deploys primary monetary policy weapon in a bid to hold back inflation and open another front to support the real, following intervention in the currency markets
Adherence to Islamic financing principles could benefit credit unions
Islamic savings products would make institutions more resilient, and possibly strengthen incentives for good governance, IMF working paper argues
Lagarde tells central bankers not to 'rush to exit' on QE
Speaking at Jackson Hole, the head of the IMF said unconventional monetary policies were "still needed in all places it is being used" and that it was unclear what "exit" actually implied
Capital flows are 'fickle' and always have been, paper finds
Capital flow volatility is a fact of life for all economies at all points in time, say IMF researchers, who point out that bigger advanced economies are best placed to deal with ebb and flow
Employment losses have repaired corporate balance sheets, paper argues
Differences in post-crisis employment among EU members are largely driven by need in many countries to adjust balance sheets, according to IMF working paper
Mozambique cuts rates again as inflation undershoots target range
Inflation in Mozambique has fallen below the central bank's target range despite IMF predictions to the contrary; measures in place to improve monetary policy transmission
The Bretton Woods transcripts: debate about the World Bank and the BIS
Andrew Rosenberg highlights the secondary importance of negotiations to create the World Bank and cover ‘other discussions’ as well as Norway’s objections to having the BIS once the IMF was founded
IMF shuts up shop in Budapest as Hungary clears its debt
Central Bank of Hungary repays remainder of its €1.44 billion loan ahead of schedule; IMF’s Budapest office will close at the end of August as part of ‘a message to voters’
IMF reports show French and German banking sectors are key to European stability
IMF urges France to do away with tax disincentives to deposits in an effort to broaden banks' funding sources; emphasises Germany's role in forging a robust eurozone financial architecture
BoJ on target as IMF urges Abe to loose his other arrows
IMF says fiscal and structural reforms are necessary to create ‘durable’ increase in inflation; encourages Bank of Japan to begin internal discussions over its exit plan
IMF spillover report highlights tough balancing act for leading economies
Report examining international effects of policies in China, the eurozone, Japan, the UK and US, says easy monetary conditions essential but warns of future side-effects
Intertwined Caribbean need stronger cross-border regulation, argues IMF paper
While stressing that greater financial interconnectedness could have a beneficial impact, the paper warns of regulatory arbitrage and underestimation of systemic risks in the region
Cyprus gold still in play to help fund troika bailout
First review finds good progress made in repairing the Cypriot financial sector; central bank will take on a wider supervisory role but may have to sell gold to contribute to the country's bail-out
IMF endorses Fed monetary policy in Article IV report
Staff report highlights risks associated with exit, including negative impact on the Fed's balance sheet, which could cause a political 'backlash'
IMF looks to ECB for more monetary easing
IMF encourages the ECB to cut interest rates and launch a new round of long-term low-interest loans to buy more time for eurozone banks and legislators
IMF paper considers impact of quota change
Executive board has expressed ‘considerable support’ for an increase in the weighting of GDP in its quota formula; staff policy paper simulates the most likely changes to the formula’s make-up
Collateralisation of borrowing may reduce bank resolution costs
This ‘net benefit' should result in lower overall funding costs and thus a lower probability of distress despite increasing encumbrance of the bank's balance sheet, according to a recent IMF paper
IMF user guide takes stock of current toolkit for systemic risk monitoring
Paper provides guidance on selecting and interpreting monitoring tools; a continuously updated inventory of key categories of tools; and suggestions on how to carry out systemic risk monitoring