Articles by Central Banking Newsdesk
Reserve Bank of Australia deputy governor targets productivity boost
Philip Lowe says the country will need a ‘substantial increase’ in productivity growth if it is to replicate the rapid growth in real per capita income achieved in the past two decades
IMF paper highlights benefits of model-based approach to monetary policy analysis in LICs
New paper taking Kenya as an example finds benefits of a model-based approach to monetary policy analysis in low-income countries, including in countries with money-targeting frameworks
Diminishing importance of US in world economy mutes knock-on effects, finds BoJ paper
Tightening monetary policy in the US in the 1990s had significant adverse effects in the rest of the world - but the following decade, despite increased global integration, the effects were less
ECB prepares ground for new €10 banknote next year
New €10 note will be the second in the Europa series after the launch of the €5 note this May; Partnership Programme launched today will seek to smooth its introduction among stakeholders
Carney backs new leverage ratio powers
Bank of England announces review of its powers over bank leverage ratios; Mark Carney says that FPC control over the tool is ‘necessary to properly implement a robust capital framework’
Riksbank reviews 20 years of inflation targeting
Sweden’s central bank publishes four research papers on different countries’ experience of inflation targeting and monetary policy; Lars Svensson and Michael Woodford are among the contributors
Bundesbank’s Dombret defends Germany’s current account surplus
Andreas Dombret says the strength of German households, businesses and public sector is a stabilising factor for the eurozone as a whole; calls for acceptance of the structural differences between economies
Chan laments lessons left unlearned from financial crisis
Hong Kong Monetary Authority chief executive Norman Chan says he will continue warning against excess levels of debt, even though it is now widely seen as part of the solution to the crisis
ECB's Cœuré says European institutions must be more accountable
The financial crisis has led European institutions to intrude more into member states' economic and fiscal policies, with 'redistributional consequences' - so democratic accountability is 'key'
Kuroda says Japan is on track to hit price target
Bank of Japan governor says the central bank’s QQE has brought about ‘positive developments’ that are spreading throughout financial markets and the real economy; sees inflation hitting 2% by 2015
Greek paper finds Turkish economy bucks EU trends
Academics use a GVAR model to examine interlinkages between southeast European economies and how they react to eurozone macroeconomic policy; Turkey bucks trends followed by EU members
Fed’s George backs ‘diversity of views’ in supervisory process
Kansas City Fed president Esther George says it is important that the interests of all stakeholders are reflected in a country’s supervisory structure
Fed could step in if US government hits debt ceiling, minutes show
Federal Reserve policymakers held unscheduled meeting the day before US Congress suspended the national debt limit; agreed the NY Fed trading desk could 'address disruptions in market functioning'
Bank of England appoints three new executive directors
Two new executive directorships are created at the Bank of England - for special resolution and information technology - and Jo Place is promoted internally to head up the human resources operation
ECB paper proposes new metrics for competitiveness
Researchers say that conventional indicators of competitiveness are losing their relevance as production spreads across borders, and propose two new measures based on concept of global value chains
Draghi wants European public backstop for stress tests
ECB president Mario Draghi says both national and European public funds should be in place ahead of the comprehensive assessment to ensure it is a ‘credible exercise’
Weidmann and Draghi go head to head on ECB policy
Draghi, Asmussen and Weidmann lay out their views on the right direction for eurozone monetary policy; Bundesbank president accused by Paul Krugman of 'sadomonetarism'
RBA 'open-minded’ to currency intervention
Reserve Bank of Australia governor Glenn Stevens says the central bank would consider intervening in the exchange rate, and insists it ‘remains part of the toolkit’
Canadian paper calls for ‘simple and digestible’ communication on financial stability issues
The paper says central banks should use plain language and build a coherent narrative when communicating financial stability concerns or policies
Yellen wins Senate committee approval
US Senate Banking Committee backs Janet Yellen as the next Federal Reserve chair; latest FOMC minutes reveal support for a cut in the interest rate the Fed pays on excess reserves
OTC derivatives reform contains ‘real world challenges' says Fed governor
Jerome Powell says worldwide reform efforts will turn OTC derivatives market infrastructure into a ‘pillar of strength in the next crisis' if implementation challenges can be overcome
OECD’s White says ECB supervision is back to front
William White says ECB should be managing the current crisis rather than trying to prevent the next one; warns that the global economy remains vulnerable, partly because of central bank actions
'Sticky' deposit rates could cost US households dearly when Fed raises rates
Unwillingness among retail banks in the US to pass on rising market interest rates to depositors costs the country's poorest savers up to $100 million a year, Fed economists find
Yellen wins over key sceptic in bid for Fed confirmation
Republican senator and noted opponent of doveish monetary policy says he will vote for Janet Yellen to lead the Fed based on her commitment to transparency and ‘rules-based' monetary policy