Central Banking
Bank of Israel digs in for long fight against strong shekel
Central bank has “plenty of patience”, says monetary policy-maker
Overhaul of RBA archive sees a third of records digitalised
Externally-facing archive will give public greater insight into central bank’s history – review
Podcast: Central Banking launches Tech Talk series
In the inaugural episode, Rachael King and Adam Csabay cast a critical eye over some of the biggest fintech developments of 2019
Brazil lowers rates to record-low 4.5%
Weak growth requires interest rates “below the structural level”, says the central bank
‘Green finance’ standards ineffective with smaller firms – BdF paper
Banks lend to smaller firms irrespective of their industries’ polluting records, researcher says
FOMC calls halt to cutting cycle
Unanimous decision keeps rates on hold; Powell signals no move likely for some time
Brazil likely to end easing cycle with 50bp rate cut
Record-low rates will suffice to boost growth in 2020; inflation up on weaker real
Effects of Irish and Dutch macro-pru differ strongly – DNB paper
Researchers look at interaction of monetary and macro-prudential policy in two eurozone economies
BIS paper examines economic impact of macro-pru
Shocks are similar to monetary policy but transmission differs, researchers say
People: BIS picks Lamfalussy fellow; Iceland appoints research director
BIS names 2020 fellow; Icelandic central bank promotes economist; Jekaterina Govina becomes director of supervision in Lithuania
Tribute to a great man
Peter Bakstansky highlights Paul Volcker’s legacy of probity and integrity
Forex market growing, but more risky – BIS review
Reduced reliance on PvP and heightened fragmentation threaten market resilience
BoE climate stress tests results to be shared with NGFS
Carney says tests will highlight firms that are not implementing appropriate policies
Sri Lankan government may not pass central bank reform – adviser
Former governor’s comments come as IMF praises draft law on central bank inflation targeting
Cloud throws up new financial stability risks – FSB
Reliance on third-party cloud platforms creates risks, especially given market power of providers
Brexit opens opportunity for EU’s capital markets union – research
Future EU-UK relations limited by Brussels’ focus on preserving integrity of internal market
Tensions emerge in Fed’s push for instant payments
The US Faster Payments Council is in a better position than the Fed to tackle key issues, some say. Others welcome the Fed’s muscle in promoting competition
New ‘currency’ aims to tackle failings of its predecessors
Saga sits somewhere between a stablecoin and a crypto asset – and has been designed by a team that includes former central bankers
Central banks should collaborate on multicurrency CBDC – research
Lithuania’s central bank notes national CBDC projects will not solve global payment inefficiencies
Atlanta Fed develops new data app
App provides access to Fed bank’s most popular data points and tools
IMF head warns Ukrainian president over banking scandal
Central bank sues lawmaker over what it says are slanderous statements on behalf of oligarch
Paul Volcker, 1927–2019
The Fed chair made his name battling inflation, and left his mark on independence and post-crisis financial regulations
Paper looks at pro-cyclical consumption in Spain
Households reacted strongly to fears of job losses during economic crisis, Bank of Spain says
ECB paper presents new measure for global financial cycle
Researchers say global financial cycle and large capital flow episodes show consistent links