Central Banking
Yngve Slyngstad: contrarian person, brilliant investor
Knut Kjær reflects on the character of the man that has led Norway’s $1.1 trillion sovereign wealth fund and contemplates the complex governance challenges ahead
2019: The year in review
The past year was marked by a persistent weakening of the global economy, and some radical financial innovations
People: Ingves elected ESRB vice-chair
Appointments at ESRB and ECB; official resigns from the Central Bank of Colombia
Negative rates demonstrate shortcomings of currency
Many central banks have rates in negative territory. The distortionary effects of these policies raise broader questions on the design of money itself, writes Barry Topf
Schnabel and Panetta appointed ECB executive board members
The final distribution of responsibilities in January will determine the new members’ portfolios
Argentina lowers key rate floor
New governor aims to abandon ultra-tight financial conditions
Andrew Bailey to be next BoE governor
FCA chief will return to central bank after turbulent term at sister regulator
Manufacturing leverage weakens ECB monetary policy – BoI paper
Eurozone industrial firms’ response to policy shocks decreases as leverage rises, researchers find
Bank of Mexico cuts again as growth remains sluggish
Board says economic weakness is likely to persist
Network effects magnify impact of US monetary policy – BdF paper
Researchers find that impact of US monetary policy is increased by complex cross-border interactions
IMF sounds warning over global debt
Debt in both public and private sector may leave many countries at risk in next downturn, IMF says
Riksbank abandons negative rates
Swedish central bank increases repo rate by 25 basis points, but two board members dissent
Tighter regulation may be working – MIT economist
Kristin Forbes says banks may be more resilient but warns risk could be shifting to shadow sector
BoE holds rate, but two officials vote for cut
Policy-makers note gloomy backdrop and signs that the labour market is “loosening”
BoE probes press conference audio feed leak
FCA investigates alleged leak of backup feed to third parties before main broadcast
ECB warns Lithuanian government over bank tax plans
Plan to tax banks’ assets could harm financial stability, particularly for weaker lenders, ECB says
Central banks need to avoid dependence on markets, officials say
ECB and Fed officials reflect on relation between bond market expectations and their policy decisions, in farewell conference for Benoît Cœuré
Claudio Borio says central bank independence is tied to globalisation
Both are underpinned by the same “economic and political zeitgeist”, the BIS economist says
In search of a better definition of digital money
Dave Birch tries to cut through the noise on cryptocurrencies, blockchains and everything in between
BoE to test banks on climate risks over 30-year horizon
Unusual stress-test design reflects long horizon and interlinked risks posed by climate change
New Zealand launches next phase of RBNZ governance overhaul
RBNZ gains new governance board and formal financial stability remit
IADI highlights move to strengthen deposit insurance
Survey of 113 schemes finds they are becoming more generous and faster to pay out
Argentina woes deplete Uruguay’s reserves – IMF
Reserves drop from $15.6 billion to $14.3 billion in 12 months as dollar deposits also begin to rise
Benoît Cœuré attacks lack of political will by eurozone leaders
European single market needs serious reform, says retiring ECB official