House prices
Global property investors may undermine macro-pru – CGFS
House prices are rising and increasingly synchronised, BIS committee says
German house prices rise by slowest rate since 2014 – Bundesbank
Housing prices continue to rise but at slower rate, especially in major cities
DNB to tighten macro-pru over real estate fears
EBA says Dutch central bank fears overheating after house prices in large cities exceed previous peak
Twelve countries’ financial sectors under IMF spotlight in 2020
Fund reveals which nations will undergo financial stability assessments, detailing which areas will face greater scrutiny
ECB’s Mersch warns of negative side-effects of ultra-loose policies
Policies may be contributing to risk-taking, high asset-price inflation and inequality, board member says
Global house price growth slows, but China still surging
BIS figures show broad slowdown in growth, though prices are still rising fast in some places
China trims new benchmark rate amid inflation dilemma
PBoC cuts one-year benchmark rates again, but surging inflation remains an issue
Fed ramping up climate change research efforts – Lael Brainard
Climate change could impact neutral rate, governor says; Fed can’t afford to ignore the issue, San Fran Fed’s Mary Daly adds
Croatian governor warns ECB spillovers are raising real estate prices
IMF should advise less separation between macro-prudential and monetary tools, Boris Vujčić says
BoE paper explores collateral’s impact on labour market
Collateral value affects hiring decisions by small businesses, authors find
‘Non-salient fees’ matter for mortgage pricing – BoE paper
Many borrowers appear to be less sensitive to fees than to interest rates, and firms exploit this
RBNZ publishes debt-to-income dataset
Data provides insight into how households might react to a financial shock, central bank says
BoE’s Cunliffe says housing tools have worked
More evidence has emerged on “borrower-based” tools since they were first tested, deputy says
Canadian mortgage insurers need more capital to survive downturn, IMF warns
The three insurers need an extra $11 billion to meet capital requirements, stress tests reveal
Putting modern monetary theory to the test
Sayuri Shirai asks whether MMT might hold the solution to Japan’s stagnation
BoE may impose capital floors on UK firms – PRA chief
Sam Woods says some leveraged loans are based on “heroic” risk assumptions
RBNZ review lends support to loan-to-value limits
Macro-prudential tool has been helpful in promoting financial stability, study finds
Cambodian central bank voices concerns over possible Chinese spillovers
Central bank fears a sharp drop in property market could trigger financial system risks
Bank of Canada warns of corporate debt risks
Annual financial system report notes the growing corporate debt in Canada’s extractive industries
Swedish governor calls for comprehensive reforms to housing market
Higher house prices boost private debt, which now poses greatest financial risk, adds the governor
RBA warns about falling Australian house prices
Prices have declined since 2017, although unemployment and interest rates are at low levels
Low interest rates adding to high global stability risks – IMF
Monetary policy-makers must look at both short- and medium-term stability risks, says Tobias Adrian
UK Labour Party floats idea of house price target for BoE
Report from opposition party suggests central bank could target 2% house price growth
Most US community banks could withstand housing slump – researcher
San Fran Fed researcher says less than 1% of banks would be “severely undercapitalised”