Articles by Daniel Hinge
BoE concerned by broken long-term investment incentives
FPC continues work on procyclicality and short-termism among pension funds and insurers, but participants at event in London suggest others may now need to pick up the baton
Collateral impact from eurozone QE still unclear, says Euroclear’s Evenepoel
Effect of new liquidity regulations and eurozone quantitative easing on collateral is still uncertain, but the market is ‘always creative’, according to Euroclear’s head of treasury
Historic BoE minutes shed light on troublesome money supply targets
Court minutes from the era of money supply targeting highlight the central bank’s struggle to control inflation amid unclear indicators and an occasionally fractious relationship with government
Eurozone moving towards ‘single market for collateral’, say central bankers
Panellists from Belgian, French and Dutch central banks discuss moves towards harmonised collateral markets in Europe at conference in Brussels
Repo market coping with liquidity regulations for now, panellists say
Participants at Euroclear’s Collateral Conference say repo markets have delivered new efficiency gains to keep collateral supply up, but the outlook over the coming year looks less certain
In search of a better measure of inflation
Hedonic adjustments offer a way of tackling bias in the CPI, albeit at a cost, but new research suggests even these may be misrepresenting inflation – with broad implications for the economy
BoE unearths new evidence on UK productivity puzzle
Latest inflation report includes new research suggesting temporary ‘compositional’ factors may be dragging on productivity growth; inflation path revised up slightly and growth down
Constâncio suggests new shadow bank powers for Esma
ECB vice-president again underlines need for supervisors to take on new tools and responsibilities for tackling shadow banks, but suggests at least some may be wielded by other bodies
Gieve: BoE rate hike likely to hinge on election outcome
Former deputy governor John Gieve says victor in May 7 poll will impact BoE’s tightening decision; panellists warn of high uncertainty as no party likely to win outright majority
Early contenders emerge as Irish governor announces departure
Central Bank of Ireland governor announces intention to retire later this year, with a handful of names already surfacing as possible successors
Riksbank ramps up QE
Asset purchase programme doubled but unexpected rate hold sees krona move higher; Riksbank highlights both signs of recovery and rising financial stability risks in new monetary policy report
Norges Bank’s Olsen backs ‘leaning against the wind’
Øystein Olsen presents evidence in favour of using monetary policy to lean against financial imbalances, which he says smooths inflation and output in the long run
Riksbank seeks greater clarity with redesigned monetary policy report
Shorter report aims to focus more on analysis and less on detailed data reporting, with new layout to boost readability; head of forecasting says design process drew on years of feedback
Lithuania bought 1.6 tonnes of gold as part of euro switch
Purchases representing around 25% of total gold holdings made during switch to euro; Bank of Lithuania investment director tells Central Banking investments are now more diverse
BoE minutes remind markets not to be complacent
Minutes show MPC firmly positioned for coming rate hike; economists suggest central bank may be warning markets they have overestimated willingness for easing
Fed’s Claessens challenges banking Balkanisation theories
Theories emphasising the collapse in cross-border credit since the financial crisis fail to capture a ‘secular trend’ towards emerging markets, says Fed senior adviser
Economists split on reality of cross-border co-operation
Panelists at an event in London see continued obstacles to countries working together effectively during a crisis, although regional co-operation could be a partial solution
Sri Lanka’s Mahendran cleared of direct involvement in bond scandal
Governor not directly involved with irregularities in treasury bond auction, but tighter supervision of central bank operations is needed, committee finds
Icelandic MP posits radical monetary reform
Report proposes scrapping fractional reserve banking and handing Central Bank of Iceland authority over money creation; central bank says it is not considering the plans further
Central Bank of Bahrain launches Islamic liquidity facility
Wakalah instrument chosen on basis of its effectiveness as a short-term liquidity management tool, executive director says, allowing banks to deposit excess reserves with the central bank
Bascand says RBNZ more alert to risks
Deputy governor says new risk management framework has improved central bank’s ability to deal with risk; discusses reserves management policy and ‘open relationship’ with government
BIS charts ‘boundaries of the unthinkable’ as risks rise
Quarterly review flags growing vulnerabilities and signs of credit booms in some economies; research finds limited impact of deflation on growth, pointing to importance of financial sector
Nalm Europe: Scope for improved risk modelling, says RBNZ’s Bascand
Central bank has already gone some way towards revamping its financial management but there is ‘scope to improve further’, deputy governor tells Central Banking conference in London
Turkey intervenes in FX markets as lira slide continues
Central bank caught between shrill government rhetoric and jumpy markets, cutting FX deposit rates and launching liquidity operations in an attempt to halt the sliding lira