Articles by Central Banking Newsdesk
Financial frictions key to DSGE performance – NY Fed paper
Post-crisis period was a harsh testing ground for structural models, but the New York Fed’s DSGE model was at least equal to private forecasts, researchers say
Norwegian SWF invested $1.9 billion in unlisted real estate in 2017
The fund obtained a 7.5% return in a part of its portfolio that amounts to $28 billion
Algerian monetary financing may stoke inflation, warns IMF
In September 2017, Algiers resorted to central bank financing of budget deficits
BIS research finds ‘scant evidence’ of shift away from cash
Rise of electronic payments is not reflected in falling demand for cash
Swift publishes results of ‘landmark’ DLT project
Swift says it is no longer a question of if, but when DLT will reach maturity
ECB’s open market operations often raise banks’ liquidity – paper
Asset “haircuts” imposed by ECB often smaller than those in repo markets – researchers
Banks’ links to fintech echo run-up to financial crisis, EBA head says
EBA will work for consistent regulation of fintech by European countries, Enria says
BoE not to blame for gold standard-era crises in US – paper
Bank of England’s rate decisions between 1884 and 1913 were not responsible for “causing or aggravating” crises in the US, author finds
MMFs lower risky investments in low-rate environment – paper
After a 1% rate cut, money market funds decrease risky investments by 25 percentage points
Return of volatility helps shatter market illusions – BIS’s Borio
Quarterly review focuses on recent market gyrations; researchers outline new early warning indicators for financial stress
BoJ policymakers eye hopeful signs for inflation
Policy remains on hold as inflation shows some signs of greater strength; one member calls for further easing measures
Richmond Fed economists weigh idea to prevent bank runs
“Priority” bank accounts could force customers to reveal whether a run is developing
People: ECB clears way for de Guindos
Governing council says it has “no objection” to the Spanish candidate; Bank of England’s David Thorburn resigns; RBNZ gains a board member
Protectionism may have ‘serious consequences’ – Canada’s Lane
US tax reforms may affect Canada’s capacity to attract investment, warns deputy governor
Paper warns emerging markets of pitfalls of credit easing
While the effects of credit easing are benign for advanced economies, developing and emerging countries may experience macroeconomic repercussions
ECB removes promise to increase bond purchases if needed
Stronger economic growth confirms previous confidence of rate-setters, Draghi says; ECB president criticises threatened tariffs
Poland delays first hike by one year
Central bank reduces its inflation forecasts for 2018 and 2019, and the zloty falls
IMF advises rollback of Kenyan interest rate caps
Latest review finds caps have undermined the effectiveness of monetary policy and restricted credit access; Kenyan authorities ask for six-month programme extension
MAS steps in to calm job-poaching battle between insurers
Singaporean authority is concerned job-switching bonuses may be driving aggressive sales tactics
RBNZ paper investigates weaker pass-through since 2008
Banks’ use of more stable funding sources seems to have weakened the effect of policy rate changes since 2008
ECB criticises Irish draft law on mortgage arrears
Draft law could encourage moral hazard and harm legal certainty, says ECB
Mobile money taking off in Rwanda – report
Central bank documents an increase in both users and volume of transactions across mobile financial services
IMF recommends Colombia improve policy communication
Fund considers the central bank has further room to lower interest rates
Deregulatory bill gathers bipartisan support in US Senate
The amendment lifts the asset threshold beyond which banks are submitted to stricter oversight