Articles by Central Banking Newsdesk
IMF paper weighs impact of low rates on instability
Working paper suggests the ineffective regulatory framework in the US was more to blame for the occurrence and severity of the crisis than low interest rates
MAS committing over $150m to help foster innovation
Ravi Menon reveals plans to help create a ‘vibrant ecosystem for innovation’ including the provision of funds to help lure banks into basing their R&D centres in the country
Juncker tells Greece to vote ‘yes’ in referendum
European Commission head Jean-Claude Juncker calls on Greeks to vote in favour of latest proposals, urging them not to ‘commit suicide because one is afraid of death’
ECB research flags signs of Spanish decoupling
Recent recessions appear to have caused Spain’s economy to diverge from those of other major eurozone countries, working paper warns
Carney says regulations may have gone too far
It is time to ‘take stock’ of financial regulations to ensure they are not imposing unintended consequences, Bank of England governor says
Fed’s Powell lays out payments reform priorities
Jerome Powell highlights four areas in which US payments need to improve as work begins to upgrade the economy’s payment systems
IMF paper offers advice on transition to inflation-targeting regimes
Guide to switching monetary policy regime recommends gradual approach to ‘buy time’ for central bank adaptation
RBNZ to cut costs despite need to implement major new projects
Central bank plans to cut costs and use resources more effectively following tighter funding deal; strategy includes payment systems upgrade, new banknote series and first stress tests
ECB’s Constâncio calls for eurozone to cut back on debt
ECB vice-president says deleveraging has proceeded slowly so far due to growth concerns; emphasises debt reduction ought to be done using diverse measures, but says primary surpluses are key
BoJ paper sees signs of structural shift in pricing behaviour
Study finds rising exchange rate pass-through is in large part the result of a change in firms’ pricing behaviour, although why behaviour has changed remains unclear
San Francisco Fed research examines easing impact of Swiss reserves expansion
SNB asset purchases focused on short maturities still pushed down longer maturity yields, researchers find, which they say holds lessons for eurozone QE
Fischer: more research needed on stress testing
Fed vice-chair sees room for improvement in the design of stress testing; NY Fed’s McAndrews fleshes out possible research agenda
Greece closer to default as creditors throw out latest proposals
Leaked copy of counterproposal by Greece’s creditors complete with red-inked changes shows agreement as far away as ever, with less than a week until major IMF repayment
German life insurers vulnerable to interest rate shock, research warns
Discussion paper finds life insurers could have experienced a policyholder run in 2013 if interest rates had risen 2.1 percentage points; says QE might make it hard for insurers to protect themselves
IMF paper: Indian monetary policy transmission is improving
Working paper examines credit channel of monetary policy in India, finding ‘significant, albeit slow’ transmission to the real economy and a gradual improvement over the past few years
Central Bank of Nigeria excludes importers from FX markets
Latest bid to relieve pressure on the naira sees wide range of importers and those looking to invest in foreign currency bonds and equities banned from making foreign exchange transactions
Danish central bank urges government to 'rein in' economy
National Bank of Denmark recommends countercyclical fiscal policy, including reformed housing taxes, as private sector growth has become strong enough to create risks
Central Bank of the Philippines receives international remittances award
Filipino central bank secures award by World Bank, European Commission and the United Nations for its efforts to broaden and deepen the country's financial markets
Bulgarian governor wants quick successor appointment to hasten his exit
Ivan Iskrov calls on parliament to elect a successor before the end of his term in October, bringing an end to a turbulent period in charge
Chatham House paper tries to quantify Syrian economic breakdown
Devastation from war, displacement of millions and oil and gas production falling into the hands of Isis and Kurdish forces have combined to create economic disaster
IMF paper finds foreign investor base crucial for EM sensitivity to shocks
Working paper finds emerging markets that rely more on international funds and global banks are more sensitive to ‘global push factors’ such as US monetary policy
BoE’s Cunliffe sees more efficient UK firms in coming years
Deputy governor justifies MPC forecast that productivity growth will finally pick up in 2016 and 2017, pointing to the potential for efficiency gains within firms as the economy grows
Senior UK bankers face bonus clawback for up to 10 years
Final PRA/FCA proposals on remuneration set the clawback period at seven years with a potential three more for senior managers; Andrew Tyrie questions whether the rules are enough
New York Fed launches economy ‘snapshot’
New research publication uses charts and succinct summaries to capture the latest economic developments; first edition features insight from consumer survey