International
IMF: global recovery is broad but incomplete
Fund ups its growth forecasts but says many are missing out; Maurice Obstfeld urges policymakers to take action while “times are good”
More communication may hamper monetary policy, paper says
Independence and bigger MPCs may convey confusing messages and provoke forecast errors
FSI offers guide to liquidity monitoring tools
Basel III makes liquidity more comparable and consistent, but more tools may be needed to capture “jurisdiction-specific issues”, Financial Stability Institute says
EMs should work to avoid ‘macro-prudential war’ – BIS article
Use of macro-prudential policies should be co-ordinated internationally for maximum effect, say Luiz Pereira da Silva and Michael Chui
Kuroda: future need not be fully centralised or decentralised
BoJ governor says both approaches to market infrastructure have pros and cons, and it is not necessary to have one or the other
Developing states can improve inflation targeting – IMF paper
The research finds a bias in favour of results in line with the academic consensus
CPMI plans response to growth of wholesale payments fraud
Preliminary report outlines proposals designed to tackle security vulnerabilities in endpoints, as fraud becomes “increasingly sophisticated”
Debelle calls for more thought on financial stability independence
RBA deputy says financial stability needs its own intellectual framework; panellists warn independence likely to face tougher challenges ahead
BIS report sheds light on innovative big data use
Central banks across the globe are turning to big data to solve statistical issues, improve banking supervision, and analyse communications
Fed paper calls for rethink of conditions for setting capital controls
Policymakers should also consider how external shocks affect the borrowing capacity of the country, researchers say
Capital rules may be too risk-sensitive, Basel fears
Complexity is slowing the roll-out of standards, says Basel Committee deputy
Good data management key to extracting value from big data – panellists
Big data proves most useful when backed by a well-designed production chain – but it comes at a cost, central bank data experts say
SNB’s Jordan praises John Taylor legacy
The governor values how the Taylor rule has provided policy guidance, becoming an important benchmark
‘Fault lines’ may be re-emerging, warns Bini Smaghi
Societe Generale chairman says supervisors should not rest easy until they have a better understanding of the “fundamental causes” of financial crises
Central banks may be thinking wrongly about inflation – Borio
BIS economist says inflation may not always and everywhere be a monetary phenomenon, which could help explain why the natural rate is so low
IMF’s Lagarde gives update on women’s empowerment pledges
The fund has teamed up with the UK to provide ‘gender-budgeting’ assistance to countries requesting financial management support
Rate hikes could halt asset bubbles, research finds
Tighter policy can work if savings fall or holdings of bubble asset decline, paper says
Caruana urges rethink of global co-operation
Closer co-operation across economic policymaking could help to dampen the backlash against globalisation, BIS chief says
BIS study flags ‘missing debt’ as exuberance spreads
Strong macroeconomic backdrop is encouraging risks to grow, BIS warns; new and updated datasets launched
IMF paper calls for global co-operation on big data
Discussion note urges statistical authorities to “step up” their involvement in big data projects and develop frameworks for knowledge sharing
Mark Carney takes over two BIS chairmanships
Bank of England governor adds two further chair positions to his several existing roles, taking over from Agustín Carstens
Q&A: Asia’s caught in the Basel crossfire – Andrew Sheng
Veteran regulator says international standards may be the wrong medicine for emerging markets
Multiplier of spending cuts bigger than fiscal expansions, paper argues
Impact of austerity is at its peak during recessions, Richmond Federal Reserve paper finds
Fiscal stabilisation spurs growth in low fixed-asset sectors - IMF
Those with difficulty raising external funds benefit most from policy, paper argues