Articles by Central Banking Newsdesk
MAS holds policy on back of stubborn core inflation
Monetary Authority of Singapore says it will let the S$NEER appreciate at a 'modest and gradual' rate in its semi-annual monetary policy statement
Kuwaiti governor argues for credit ratings regulator
Mohammed Al-Hashel says rather than reducing reliance on credit ratings, he would like to see an independent institution established to ensure high-quality ratings
RBI paper: Rural wages main driver of Indian food inflation
Research published by the Reserve Bank of India says it ‘bears to reason’ there is a need to raise agricultural productivity to mitigate food price pressures
Eurozone shadow banks increase share of assets to 33%
Shadow-banking entities now own a third of the €57 trillion worth of assets in the eurozone financial system according to ECB report; expansion has ‘gathered pace’ since 2012
Top UK and US officials join forces to enhance resolution
Officials including Mark Carney and Janet Yellen meet in Washington to improve transatlantic cooperation in the event of a global banking collapse
European Court of Justice hears case against OMTs
European Central Bank’s programme for buying sovereign debt to be considered by Europe's top court; ruling could have implications for monetary policy
PBoC and Bank of Russia establishes $24.5bn swap line
Bank of Russia says deal provides opportunity to obtain liquidity 'whenever required'; trade between the two countries has more than doubled since 2008
Carney hails ‘major achievement’ on resolution stays
Isda protocol signed by 18 major banks aims to solve cross-border legal issues, preventing a ‘cascade of termination events’ that could undermine an orderly resolution
Spanish economists adapt model on business cycle conditions to forecast growth
Working paper published by the Bank of Spain extends an existing model on US business cycle conditions to forecast GDP growth in real time
Armenian central bank looks to spark inflation ‘rebound’
Central Bank of Armenia says it will continue ‘loosening’ monetary conditions as it looks to return annual CPI inflation to its 4% target
Amro revamped in agreement struck at IMF meetings
Macroeconomic Research Office will become an international organisation when agreement is ratified, 'contributing further to regional financial stability'
Plosser wants Fed to follow ‘rule-like’ monetary policy
Philadelphia Fed president says constrained discretion has been shown to produce better policy-making, citing Nobel prize-winning research
Zhou backs Chinese growth target in face of slowdown
PBoC governor says Chinese economy is on track to hit growth target of 7.5% in 2014, despite drag from the housing market; central bank deploys measures to boost real estate sector
IMF launches consultation with external advisors on Islamic finance
Fund working group looks to publish ‘staff discussion note’ on Islamic finance before the end of the year and organise a ‘high-level’ conference in 2015
BIS paper proposes defence against market panics
Proposal would see governments link level of borrowing to interest rates, breaking the vicious cycle of rising rates leading to increased default risk
Basel Committee toughens bank governance principles
Principles aim to instil stronger risk governance in banks, after FSB peer review identified room for improvement; focus on responsibility of boards and ‘three lines of defence’
Bank of Canada will consult public on future banknote designs
Bank of Canada launches a nationwide consultation on banknote design principles, after a report concluding that Canadians should have increased participation in the process
ECB to release assessment results on October 26
European Central Bank will publish results from asset quality review and stress tests later this month; Draghi says ‘further efforts will be needed’ from some banks
National Bank of Angola separates financial regulation from supervision
Central bank is restructuring its operating model, making a ‘clear separation between the exercise of developing standards and the role of monitoring [their] implementation’
Iceland renovates approach to financial stability
Már Guðmundsson comments on introduction of financial stability council and systemic risk committee in Central Bank of Iceland publications
BoE lifts lid on Scottish independence contingency plan
Plan warned of ‘potential instability’ from use of pound north of the border; central bank prepared emergency liquidity and clear communication strategy in run up to vote
RBA’s Ellis urges policy-makers to look beyond economics
Head of financial stability says there is ‘a lot’ to learn from other research fields, even if some techniques ‘end up being dead ends for our purposes’
BIS paper tackles redistributive effects of regulation
Working paper studies how regulation tips welfare in favour of the real economy or financial sector, and suggests how regulators might deliver a Pareto improvement
People: William English switches Fed roles; Argentina central bank adds new senior staff
William English will step down as director of the Fed board’s division of monetary affairs, but will remain as adviser; Central Bank of Argentina gets new director and general manager