Articles by Central Banking Newsdesk
Big data sheds light on income risk – Minneapolis Fed research
Better sources of data have allowed economists to gain new insights into how income risk changes over the cycle, says researcher
Open letter condemns public protector’s Sarb comments
Mkhwebane’s comments pose “grave threat” to South Africa’s economy, academics and economists warn, though they are open to mandate debate as long as it is “appropriate”
Macedonia’s Kadievska: DLT could ‘completely replace’ some intermediaries
Maja Kadievska analyses the pros and cons of distributed ledger technology, noting it could have the power to cause disruption to existing financial market infrastructure
Irish supervisor warns of return to light-touch regulation
Some banks’ handling of liquidity issues is concerning, says Sibley
Carney hails progress but Basel III must be completed ‘urgently’
FSB chair calls for more work on over-the-counter markets
Pass-through varies across countries and time – BoE paper
Kristin Forbes and co-authors study the shocks and structural factors that help explain variations in the exchange rate’s impact on inflation
Basel Committee flags shortfalls in implementation
European Union is yet to fully comply with the liquidity coverage ratio, while many jurisdictions are lagging behind in other areas
BoE bloggers suggest central banks could use equity-financed QE
Economists raise ideas for future balance sheet innovations, including digital currencies, helicopter money drops and equity-based quantitative easing
Too early to tell if eurozone NPL reforms are sufficient – ECB
Changes to legal systems are “not keeping pace” with new laws
Divided Central Bank of Colombia votes to cut interest rates
Worries about inflation not returning to target spur board to cut interest rates to 5.75%; external conditions remain a concern despite slightly better inflation data
Bank of Canada broadening intelligence gathering with new survey
Systemic risk survey will be launched next year, says deputy governor, emphasising market intelligence can never provide a “perfectly complete picture”
Household balance sheet adjustment a long process – Danish study
Research into patterns of consumption and saving before and after the 2008 crisis shows deleveraging can take a long time; consumption impact of rate hike is “modest”
Bank of England staff vote for strike action
Central bank faces four days of disruption among support staff, with the union threatening to “escalate” the matter to other departments
New Keynesian DGSE models need financial spillover channels – ECB paper
Models without powerful financial spillover channels will be “misleading”- researchers
Brazil cuts target as inflation plummets
New target now more in line with regional peers, says finance minister; corruption charges could threaten financial stability in the long run
Pakistan growth hits decade high – SBP report
Central bank says high growth, low inflation and solid investment are nevertheless overshadowed by falling exports, which have impacted reserves
Bank of Jamaica chooses overnight deposits for new policy rate
Bank of Jamaica continues to make changes to monetary policy framework with goal of fully fledged inflation targeting in mind
Bank innovation in consumer data will increase, EBA says
New laws will hasten pace of innovation but should increase consumer rights, EBA argues; market participants see laws as adequate but concerned about cyber security
IMF says remittances do not balance out losses caused by emigration
Remittances are key for providing support to LAC countries in terms of fiscal and financial stability; lack of labour resources and decline in productivity outweighs remittance support
Bond sell-off slows as markets digest central bank comments
Upbeat comments from ECB and BoE chiefs trigger brief tantrum, but bond markets now appear to be settling down
People: Fed appoints new CFO; Mishra returns to IMF after stint at RBI
Fed chooses Ricardo Aguilera as new CFO; Prachi Mishra returns to the IMF; Bank of Russia appoints new head of resolution department
Carney comments lead to sterling wobbles
Pound leaps as markets interpret comments as sign Bank of England governor is contemplating a rate hike later this year
Monetary policy ‘significantly’ affects the trade balance – paper
IMF paper links the effects of monetary policy on trade and its impaired transmission following the financial crisis
WEF report calls for global standards on blockchain
Authors say it is time for ‘global action’ in fostering fintech innovation; task forces need to be created to create global standards, while funding should be provided to help research