Articles by Central Banking Newsdesk
BIS paper presents evidence on Uruguayan price setting
Authors develop survey-based measure of firms’ price-setting behaviour, which may prove useful for research on other emerging markets
Riksbank’s Skingsley says payments innovation needs balance
Central banks should use combination of “hands on” and “hands off” approaches, and strike a balance between innovation, stability and growth, deputy says
Review urges BIS to curb dominance of ‘house view’ in research
Panel including UK’s Charlie Bean finds BIS research has at times been “genuinely path-breaking” but should give economists more room to differ from the house view
ECB paper proposes new fiscal-monetary policy mix for eurozone
Researchers suggest non-defaultable Eurobonds issued by new fund
Villeroy de Galhau highlights factors behind slow growth
French governor highlights importance of wage-setting mechanisms
IMF raises projections for US and eurozone growth for 2017
US policy mix still uncertain, but IMF staff do not yet believe changes will trigger an international trade shock; growth projections for emerging economies revised downwards
Dutch paper looks at sovereign bank interdependencies
Researchers apply correlation between sovereign and bank credit default swaps
Riksbank dissenters raise range of concerns
Three officials objected to the Riksbank’s decision to expand its asset purchases at the meeting on December 20, for a variety of reasons, minutes show
US may not experience fiscal stimulus – Atlanta Fed president
Dennis Lockhart says the US economy has reached a “transitional” juncture; says declines in key growth factors are holding the economy back
ECB’s QE works best for strong banking systems – paper
Researchers track effects of ECB unconventional policy on eurozone countries
Brazil ups pace of easing as inflation drops
Size of cut surprises observers, though inflation proves more favourable than expected; rates still rising in real terms
Italian paper looks at securitisation of SME loans
Asymmetric information can be overcome by the use of observable data
Italian police arrest two over Draghi hacking allegations
Investigating official suspects wide-ranging conspiracy; attempts made to hack over 18,000 email accounts, local authorities say
Yield curve control has long history – BoJ’s Amamiya
BoJ’s policy of controlling long-run rates is not as unconventional as many critics argue, executive director says
Azerbaijan raids oil fund as central bank reserves dwindle
President allocates chunk of oil fund to top up central bank reserves, as pressure on the manat continues
ECB paper looks at ‘sub-sovereign’ bond yield spreads
Researchers find debt levels and risk aversion are important factors
BIS paper flags importance of “multi-layered” bank networks
Authors go beyond aggregate exposures to reveal “multiplex” interbank networks, which could allow more tailored policymaking
Turkish central bank acts to support lira as inflation jumps
Central bank launches fresh measures to counter “unhealthy price formations”; inflation surprise in December adds to pressure for monetary policy action
TK Whitaker, 1916–2017
Former Irish governor was key figure in his country’s economic modernisation; earlier served as senior civil servant in finance and pushed through far-reaching reform plan
Regional Fed presidents call for further rate rises
Richmond and Boston heads say the Fed should reach inflation target in 2017
Luc Coene, 1947–2017
Former Belgian central bank governor also had significant political career
Global value chains increasingly driving global inflation – BIS paper
Growth of global value chains limits the importance of domestic factors in creating inflation, complicating the jobs of central banks
Stronger 2016 profit helps SNB rebuild reserves
Profitable year helps central bank repair its distribution reserve after losses in 2015, though profits appear to have slipped slightly in the fourth quarter
BoE paper tackles big data on Swiss franc de-pegging
Trade repository data sheds light on liquidity problems and market fragmentation around the removal of the SNB’s Swiss franc floor in January 2015