Articles by Central Banking Newsdesk
Silvana Tenreyro picked for BoE MPC
LSE academic to take over from Kristin Forbes as external member of the monetary policy committee at the end of June
People: Fijian deputy takes over in interim as Whiteside departs; FCA chairman to step down
Fijian deputy governor takes over as interim governor as Whiteside departs; FCA’s John Griffith-Jones to leave next year; Fed’s payment system director to retire; and more
BIS paper: forces driving global liquidity are shifting
Paper examines factors behind changing patterns of global liquidity, finding improved prudential standards have cut volatility
BoE economist sees monetary policy benefits to demonetisation
Removal of high-denomination notes could help central bankers maintain policies of low inflation and interest rates near the zero lower bound
Aruba central bank keeping an eye on government deficit
Caribbean central bank says borrowing from the domestic market could put pressure on international reserves; says it will be monitoring the situation “closely”
FCA regulatory sandbox success paves way for new firms to enter
UK regulator to accept 24 firms for sandbox testing in second phase; first cohort has completed six-month testing period and will be reviewed before “transitioning”
Bank of Japan strikes upbeat tone as it keeps policy on hold
The Bank of Japan decided to leave policy settings unchanged at its June meeting, but sounded more upbeat on the outlook
MPC dissent grows amid BoE dilemma
Rates remain on hold but committee split 5-3 as some argue the BoE’s difficult trade-off has shifted in favour of tackling inflation
Norges Bank sees room for improvement when forecasting wages
Evaluation of forecast performance shows both the central bank and other forecasters struggled to produce accurate estimates of wage growth and unemployment
OECD urges RBNZ to adopt debt-to-income restrictions
The OECD said adding a debt-to-income limit to the RBNZ’s macro-prudential instruments could increase the resilience of bank balance sheets
Overvalued Swiss currency is keeping rates low – SNB’s Jordan
The Swiss franc remains “significantly overvalued”, despite low interest rates and forex interventions; expansionary monetary policy makes the franc “less attractive” for investors
Yellen willing to reassess 2% target
Fed chair says question of the right target level is one of the most important facing central banks today; wind-down of QE likely to be dull, she adds
FOMC votes for hike but stays cautious on outlook
Fed committee votes for second rate hike of 2017, but enthusiasm for further tightening appears to be fading
Wilkins offers optimistic assessment of Canadian economy
Carolyn Wilkins says Bank of Canada will assess whether current “considerable” monetary stimulus is still required; growth across sectors is an “encouraging” sign for the economy
Governance frameworks need to fill in for legislative gaps, says Trinidad’s Hilaire
Governor of Caribbean central bank says financial entities have to be willing to “police themselves” by encouraging a culture founded upon strong corporate governance
Qatari peg under pressure despite reassurances
Riyal drops below official level of the peg amid concerns over Qatar’s diplomatic isolation; central bank governor highlights deep pool of reserves
National Bank of Denmark warns banks on stress test results
Some systemic banks came close to breaching threshold requirements in latest round of stress tests, central bank says
Co-operation matters for macro-prudential impact – BIS paper
Gains from co-operation can be large but asymmetric benefits could create political economy problems, authors say
Bank of Lithuania carries out cyber security exercise
Banks passed tests but supervisors will continue to be on alert, bank says
ECB gives mixed reception to new macro-pru measures
Austrian proposals welcomed, but ECB raises concerns over Belgian draft law
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