Articles by Central Banking Newsdesk
Russia says Bitcoin users will be suspected of money laundering
Central Bank of Russia joins roster of monetary authorities warning citizens off virtual currencies - but goes one step further in saying its use is against the law
PBoC commits to more market reform
The People’s Bank of China reiterates the importance of handing markets a ‘decisive role’ in resource allocation in the quest for sustainable economic growth; looks forward to 2014
Former Fed economists call on FOMC to dump Fed funds rate as main monetary policy tool
Joseph Gagnon and Brian Sack want the Fed to adopt the interest rate on its overnight reverse repo facility as its main policy tool and keep interest rate paid on bank reserves at same level
Draghi spells out QE possibilities
Mario Draghi says the European Central Bank could purchase banks' loans if they are packed in the ‘proper’ way, in contrast with market calls for GDP-weighted sovereign debt purchases
ECB demands ‘fast adoption’ of Sepa legislation
European Commission proposal to extend the deadline for Sepa migration by six months has caused ‘confusion’ in the markets, according to the ECB
IMF research maps US shadow banks
Research uses IMF-developed global flow of funds (GFF) conceptual framework to analyse the shadow banking system in the US
BoJ mulls ‘more thorough’ communication
Minutes from December meeting reveal policy board members’ concern over market scepticism towards the BoJ’s path back to 2% inflation; suggest clarifying reaction function
ECB's Cœuré weighs pros and cons of central clearing
Executive board member touts benefits, including multilateral netting of exposures, but also warns that differences in regulation may lead to regulatory arbitrage and race to the bottom
Bank of England will recalibrate forward guidance next month
Governor Mark Carney tells an audience in Davos he would prefer the next stage of forward guidance not to focus solely on unemployment, but on ‘overall conditions' in the economy
Restrictions on capital outflows more effective when supported by strong fundamentals and institutions
IMF working paper finds tightening of restrictions fails to reduce net outflows when macroeconomic fundamentals, good institutions, or comprehensive existing restrictions are lacking
Research shows CEE firms bribe bankers to get credit
Paper finds correlation between the prevalence of bribery in an economy and firms' bank debt ratios - suggesting firms bribe bank officials in order to secure loans
IMF board laments US-induced impasse on quota reform
Executive board asks the IMF board of governors to adopt resolution calling for ratification of reform package that would double quotas and overhaul fund's governance ‘without further delay'
Major central banks phase out dollar liquidity operations
ECB, BoE, BoJ and SNB will start scaling back the amount of dollar liquidity they offer to market participants in April in response to waning demand
Banks with more interbank relationships meet liquidity needs ‘more efficiently’, finds Bundesbank paper
Discussion paper examines the link between interbank relationships and liquidity needs, using data from German banks’ use of ECB main refinancing operations
Downside risks to Canadian inflation put central bank in a quandary
Uncertainty over inflation's next move leaves Bank of Canada waiting for more information before it decides to move rates
Colombian paper examines women in the workplace
Researchers say the large increase in the number of urban women participating in the workforce is predominantly a result of married women with low education levels getting jobs
Central Bank of Venezuela sees third president in nine months
Nelson Merentes, currently finance minister, will return to the bank, which he led for four years before leaving in April; meanwhile, the finance and ‘banking system' ministries are being merged
Solomon Islands wins IMF support for ‘contractionary’ monetary policy
Central Bank of Solomon Islands maintains tight monetary policy in face of excess liquidity; IMF welcomes stance but tells authorities to implement a wider exchange rate band
BoE's Fisher says falling unemployment needn't mean rate rises
Bank of England's monetary policy committee must plot a course between choking off the recovery and allowing inflationary pressures to rise excessively, says head of markets Paul Fisher
BoE's McCafferty says 'lagging' investment recovery ready to start
Worries over a lack in business investment growth are misplaced, according to MPC member Ian McCafferty, who says it is normal for it to lag growth in other sectors
Prices transmit information from the informed to the uniformed, say researchers
Bank of Italy working paper examines how the price system affects companies’ demand for information on the macroeconomy; contributes to business cycle theory
Cœuré wants to fast-track resolution fund
Benoît Cœuré calls for single resolution fund to be established within five years; Axel Weber predicts that some of the eurozone banks will fail the ECB’s asset-quality review
Dombret questions benefit of breaking up banks
Doubts that separation between investment and commercial banking would ensure that lenders can fail 'without disrupting the system'; says 'pure commercial banks' were at centre of crisis
Central banks found research prize in honour of Carl Menger
Deutsche Bundesbank, National Bank of Austria and Swiss National Bank announce the creation of a new prize for economic research, named after Austrian economist Carl Menger