Articles by Central Banking Newsdesk
Iran must contain liquidity growth to safeguard inflation success, IMF’s Lipton says
Speaking at the Iranian central bank, David Lipton discusses how inflation can be anchored in single digits, after steadily declining in past year
Czech president names two central bank board members
Czech president Milos Zeman appoints two new members to the central bank’s board; both are former colleagues of rumoured next governor Jiří Rusnok
Annual Target2 volumes fall, ECB announces
Transactions on the eurozone’s real-time gross settlement system fell to their lowest-ever level in 2015; ECB concerned this could threaten cost recovery
Bank of Canada review explores inflation target renewal
Four articles consider various elements of the central bank’s inflation targeting framework; one charts growing influence of nominal wage rigidity on average wage growth
Banks’ debt maturity needs extension – but not too much, paper argues
Eurozone banks’ debt securities need slightly longer maturity periods, but extensions envisaged under Basel III may be excessive, a Bank of Italy paper argues
Czech central bank anticipates near-zero inflation in coming months
Czech central bank says monetary policy should have been easier; anticipates inflation falling towards zero in coming months but rising by end of 2016
BoE’s Weale: t-distribution may outperform normal
Representing monetary policy committee’s judgements using the t-distribution implies GDP outcomes are skewed to the downside and inflation to the upside
RBI moves to curb concentrated credit risk
Central bank hopes new prudential measures will reduce banks’ “very high” exposures to large corporations and encourage firms to turn to capital markets for funding
Philippines announces new rate corridor
Central bank will introduce new lending and deposit facilities in June, with interest rates set either side of a lower policy rate
MAS official sets sight on expanding cyber insurance
Bernard Wee considers how demand- and supply-side challenges hindering the cyber insurance market are being addressed
Mester favours ‘error band’ around FOMC projections
Cleveland Fed president Loretta Mester would like to some kind of “error band” introduced around FOMC projections, to reflect the uncertainty the committee is grappling with
Traditional banks played leading role in creating US credit boom, paper finds
Traditional banks played a larger role than ‘shadow’ banks in originating US loans in the lead-up to the financial crisis, paper published by Deutsche Bundesbank says
Meltzer criticises Burns and Bernanke over Fed independence
Allan Meltzer criticises the former Fed chairs for giving independence away; wants to incorporate a rule into policy-making, while Peter Conti-Brown favours governance reforms
Spanish paper explores low TFP growth during expansion
Working paper notes total factor productivity fell between 1995 and 2007 despite solid growth rates in the economy; highlights misallocation of production factors within industry
Fed board gets financial stability division
The office of financial policy and research, established in 2010 to co-ordinate work across the board, is reclassified as a financial stability division; Fed cites “growth in responsibilities and staffing”
RBA's Edey signals end to lengthy card review process
Assistant governor lays out issues review will address when it is published next week, following two-year process
BoJ keeping options open on new technologies
Deputy governor Hiroshi Nakaso says the Bank of Japan is not planning to issue a digital currency any time soon, but is exploring the possibilities created by technological innovations
IMF urges San Marino authorities to tackle NPL problem
Staff encourage a policy based on stocktaking, provisioning and recapitalisation; central bank may needs outside help with AQRs, they suggest
Malaysian governor explores sustainable finance tools
Muhammad bin Ibrahim sees potential for asset class backed by carbon credit-based solutions but structured using Islamic finance principles
Canadian university to establish central banking chair
Western University, in Ontario, to create post following donation from Jarislowsky Foundation; institution counts Glenn Stevens and Stephen Poloz among alumni
Syrian central bank slashes exchange rate as currency pressure grows
Central bank allows sharp depreciation of currency and adopts more flexible approach to setting peg, clamping down on black market trading
BoE paper: CCP legal framework may need work
Process of handling default is legally robust in many cases, but has room for improvement in others, authors say
ECB paper presents evidence of risk-taking channel in US
Working paper finds interest rates affect the quality of bank credit in the US; researchers exploit confidential data on banks’ internal ratings of loans
Liikanen anticipates more changes to come from digitisation
Many new actors in the payments system in recent years have still made use of existing instruments, Bank of Finland governor says – although this could change in the future