Articles by Central Banking Newsdesk
SBP notes caveats to decade-high growth
Expansion of Pakistan’s economy continued in fiscal 2017, although the central bank is concerned about a widening current account deficit
Low-paid jobs may explain flat Phillips curve – research
As recovery continues, this phenomenon should dissipate, authors say
Half of UK consumers ‘potentially vulnerable’ – FCA survey
First survey of ‘financial lives’ finds over 25 million people at greater risk of financial difficulties
New Russian banknote provokes anger in Ukraine
Ukrainian central bank prohibits institutions from handling new note, which depicts scenes from Crimea region; design was chosen by the public in 2016
Goldfajn stresses current target remains ‘credible’
Central bank pushed back against calls for the target to be raised during 2016 debate
Irish deputy governor warns hard Brexit is ‘entirely plausible’
Ed Sibley voices concerns over new costs and frictions in European markets; EBA warns against setting up “shell offices” as response to Brexit
Higher rates contributed to recovery in Latin America – IDB economist
Less hawkish policies can fail to generate growth but push up inflation, research finds
G7 governors and ministers set out principles for assessing cyber security
The guidelines build on ‘Fundamental principles of cybersecurity’, published in October
OECD urges UK to maintain ‘close ties’ with EU
Latest assessment of UK economy warns of damaging impact of Brexit vote; Ángel Gurría says close future relationship “absolutely key”
Inflation target supports price setting and wage formation – Ohlsson
Target contributed to economic recovery in Sweden, Riksbank deputy governor says
PBoC’s Zhou warns China’s leverage is ‘relatively high’
Governor says corporate sector debt has ballooned partly due to local government financing vehicles
Rand still at risk despite recovery – Mminele
Sarb deputy warns against complacency as risks to exchange rate linger on the horizon; both internal and external threats remain
Carney warns against splitting London’s euro clearing
Europe would suffer more than the UK if euro clearing moves to the EU post-Brexit, Bank of England governor says
Williams: weak productivity, population growth keep rates low
The “new normal” implies a federal funds rate at 2.5%, says San Francisco’s John Williams
Basel Committee in ‘last few metres’ of post-crisis marathon
Secretary-general says it would be unwise to quit with the finish line so close, but adds the committee won’t be running another marathon for a while
FSB members press ahead with new cyber-risk rules
Over 70% of FSB members say they plan to launch new measures in the next year; private sector emphasises need for better training
People: FSB appoints new secretary-general
ADB’s East Asia department and International Association of Deposit Insurers also gain new heads
Colombian banking sector not at risk despite homogeneity – paper
Economist examines diversity of Colombian banking sector and notes “distance” between banks is low; lending and funding portfolios are most similar, author says
Philippines central bank seeks to allay concerns on FDI slowdown
Foreign direct investment into the Philippines dropped 37.9% in the year to July; government is struggling to meet ambitious growth targets
Riksbank simulates a payments crisis scenario
Central bank deems offline payments and withdrawals a suitable alternative to credit cards
Blanchard and Summers call for rethink of stabilisation policy
Both economists question consensus on fiscal prudence and advocate stricter financial regulation
BoE paper sheds light on global policy transmission
Comparison of UK and Hong Kong based on bank-level data finds evidence of both portfolio and funding effects
Fed’s Powell: normalisation will be ‘manageable’ for emerging markets
Fed governor says current capital flows appear to be in line with fundamentals; corporate debts a vulnerability but “situation is not alarming”
ECB strongly criticises Slovenian draft law on central bank
Proposals would put legal burden of proof in banking crisis cases on central bank, ECB says