Articles by Central Banking Newsdesk
Kazakh central bank to roll out blockchain-based savings
Central bank plans to allow members of the public to trade its short-term notes on a blockchain-based system by the end of the year
US Treasury proposals seek to water down Basel III
Proposals include axing parts of liquidity rules, reducing the use of stress testing and the possibility of allowing banks to opt out of the Volcker rule
People: Haldane keeps his MPC seat; new FSB chairs appointed
BoE’s chief economist Haldane keeps his MPC seat for another term; new FSB chairs picked as Norman Chan and European deputies step down; and more
Income is an important factor for housing demand in Turkey – paper
Profitability of housing investment in Turkey fell in 2003–14; Ceritoğlu suggests drop in home ownership is down to relative price changes
ECB paper calls for EU-wide bond-issuing agency
Authors propose the ECB and a bond issuer should work together to stimulate eurozone
ECB provides detail on stress-testing methods
Top-down approach helped supervisors challenge banks’ results, ECB says
Term premiums matter for inflation – BoJ paper
Term premiums domestically and abroad appear to affect inflation via the exchange rate channel, authors find
IMF economist builds agent-based banking system model
Model captures the diversity of agents and the use of rules of thumb; the author says the modular nature allows “straightforward” enhancements
Paper explores effects of capital controls on cost of international debt
Restrictions on capital inflows produce “substantial” corporate bond spreads but effects are mitigated for firms in EU or with English legal origins
Sarb monetary policy committee does not suffer from ‘groupthink’ – Kganyago
Sarb governor says there are often disagreements when it comes to policy decisions; central banks have now become “masters of communication”
Bank of Canada wary of hotter housing market
The central bank lists household indebtedness and regional price increases as two of its top concerns; Poloz says it is too early to say if more macro-pru needs to be implemented
BoE paper tackles multidimensional tail risk forecasting
Researchers set out method that can capture the multiple sources of risk feeding into a tail event and help understand how risks interact
Riksbank unveils results of web-scraping project
The big data technique for collecting prices could better capture volatile inflation components, allowing for more accurate forecasts, economists say
Sarb’s Kahn: current conditions ‘do not bode well’ for economy
Kganyago’s advisor says political uncertainty is likely to continue throughout 2017 with no clear sign business or consumer confidence will improve
Inflation overshoot should affect adaptive part of expectations, says Kuroda
Bank of Japan governor says there is still a long way to go until the price stability target is achieved
UK election roundup: all eyes on Brexit negotiations
Economists react as UK vote delivers a hung parliament, casting doubt on the way forward with Brexit negotiations and causing a drop in the pound
Draghi flags wage weakness as he defends easing measures
“Very substantial” accommodation still needed, says ECB president; central bank is devoting resources to understanding low wage growth
Obstfeld and Taylor back dual trilemma global finance theory
Economists still need to better incorporate financial stability into their thinking, the authors argue, with the concept of a financial trilemma helping to explain recent instability
Filipinos lack knowledge to make “informed” saving decisions – Tetangco
Survey results highlight the need for improved financial education programme; Philippines central bank to “enhance” outreach initiatives
People: Trump names Otting for OCC job; Sri Lankan assistant governor promoted
People: Trump names Otting for OCC job subject to Senate approval; Sri Lankan assistant governor promoted to deputy role; Barbados appoints acting deputy; and more
Surprise policy announcements impact cash demand and consumption - paper
Unanticipated policy announcements can significantly reduce a consumer's monthly ATM withdrawals
Culture has ‘significant’ effect on Swiss saving – paper
Researcher uses data from linguistically different Swiss groups
Wage growth remains a concern for Australia – Lowe
Governor warns low wage growth is hindering household consumption; there are some signs the labour market is recovering, with employment growth registering stronger in recent months
BoJ’s Sakurai defends aggressive monetary easing
A member of the policy board says yield-curve control allows flexibility for the central bank to implement monetary easing