Articles by Central Banking Newsdesk
IMF designs new instrument amid rise of regional financing
The “policy co-ordination instrument” is designed to allow the fund to offer technical support to countries looking to unlock funding from regional arrangements
FCA set to replace Libor by 2022
The interbank lending rate was manipulated by major banks during the financial crisis to give a healthier picture of their credit quality
People: French deputy takes on stock market oversight; Myanmar set for change
French deputy made chairman of stock market regulator; new board and three deputies appointed at Myanmar central bank; Svein Andresen to depart the FSB
Malawi stock exchange needs urgent revamp, governor stresses
Lack of interest in stock market could cause financial stability issues as pension and life insurance funds grow, says Kabambe
Bank of England appoints new COO and deputy governor
Central bank announces replacement for Charlotte Hogg following her resignation in March; new deputy also set to take over from Minouche Shafik
Evolution of monetary policy in advanced economies spells trouble for emerging markets – paper
Research explores the impact future monetary policy will have on emerging markets, concluding many will be forced to implement defensive measures
Neutral rate down to around 3.5% in New Zealand – RBNZ deputy
Rate is challenging to estimate but central bank’s models and surveys suggest it has fallen in recent years to around 3.5%
Trump says Yellen still in the running for renewed term
US president says he would consider reappointing Janet Yellen, although Gary Cohn and “two or three others” are in contention
Jaime Caruana defends pre-crisis record as Bank of Spain governor
Former governor says ultimate responsibility was on the “deficient” management of the regional savings banks, which relaxed their lending standards
Flexible working may shift Nairu, ECB’s Mersch warns
Technology may increase insecurity and weaken collective bargaining, says senior ECB figure
BoE’s Brazier warns lenders of ‘spiral of complacency’
UK lenders may be starting to let standards slip as memories of the crisis fade, Alex Brazier says
Task force calls on Fed to upgrade settlement system
Faster payments task force urges Fed to expand settlement service to all hours and open it to new participants; Fed may need to play an “operational role”
Fintech not an ‘immediate threat’ to monetary policy – paper
Research from the Bank of Canada explores the impact fintech could have on central banks’ responsibilities, deeming it “too early to judge” the effect on mandates
Uzbekistan to press ahead with forex reforms
Authorities plan to “frontload” efforts to unite black market and official exchange rates, allowing the central bank to focus on stabilising prices
IMF research flags technology’s role in falling labour share of income
Automating routine tasks is cheaper for companies, which reduces jobs for middle-skilled workers and contributes to higher inequality in advanced economies, paper finds
China-led Asian Financial Cooperation Association launches
AFCA aims to strengthen regional financial co-operation and participate in global financial governance
Singapore’s inflation sees sudden drop in June
Sharp fall in inflation was due to the falling prices of housing maintenance and repairs, triggered by the timing of government rebates
BNM governor warns global bodies against ‘one-pill-cures-all’ mindset
Wealth of information from multilateral institutions has aided decision-making, but narrow definition of the ‘right’ policies could lead to worse outcomes, Muhammad Ibrahim says
RBNZ pushes back on IMF financial assessment
Central bank says it stands by its “three-pillar” approach to market discipline, but will look at ways of enhancing co-operation and other aspects of the framework
Belarus turns to blockchain for information sharing
Central bank uses technology for new information sharing network with plans to deploy the tech to other areas, including securities market
US regulators hand Volcker rule exemption to foreign firms
Agencies are conducting a review of how the Volcker rule is applied to foreign investment funds, as some appear to be captured unintentionally
Fiscal challenges a worry for Trinidad and Tobago – report
Central bank cites rising debt and failed fiscal consolidations as reasons for ratings downgrade that could make borrowing costs higher on international markets
People: Philippines appoints new deputy, Central Bank of Ireland promotes regulators
Philippines central bank appoints new deputy to replace Espenilla, Central Bank of Ireland makes senior appointments in regulation departments following reshuffle, and more
IMF gloom on US and UK balanced by brighter spots elsewhere
IMF raises projections for China, Japan and eurozone as the UK and US falter; maintains global growth forecasts at 3.5% in 2017