Articles by Central Banking Newsdesk
RBNZ hikes rates for first time in three years
Reserve Bank of New Zealand raises its key rate to 2.75% and signals gradual tightening will continue until the rate has increased by 'about two percentage points'
Banque de France ‘is active’ in onshore renminbi market
French central bank has invested in Chinese government bonds through the onshore renminbi market; Bank of England angles for London clearing bank
MAS spearheads Bitcoin exchange regulation
Central bank is one of the first to act on regulating virtual currency exchanges, although controls are limited to money laundering and terrorist financing
Bundesbank stands firm on risks posed by non-standard policy
Annual report reiterates German concerns that non-standard policies pose a threat to central bank independence; Weidmann says wintry economic conditions are beginning to warm
Sovereign credit ratings have asymmetric impact, ECB paper finds
Working paper finds market volatility depends on whether the rating was an upgrade or a downgrade; identifies channels of contagion between countries
Cœuré delineates ‘the good the bad and the ugly’ of deleveraging
ECB executive board member says deleveraging is a double-edged sword and stresses the need for central banks to nudge financial institutions towards ‘good’ deleveraging
Lowe airs concerns about ageing population
RBA deputy says Australian population could become ‘inherently more risk averse’ as it ages, which could make it harder for the economy to generate productivity growth
Praet says ECB minutes could spell end for forward guidance
Executive board member Peter Praet says publishing ‘accounts’ of governing council minutes might reduce the need for forward guidance
Riksbank paper examines dynamics of foreign funding by Swedish banks
Study finds currency hedging needs of institutions and companies incentivise Swedish banks to issue securities in foreign currency
Turkish central bank award aims to promote research in central banking
Turkey award follows the Carl Menger Prize for Research launched by the Bundesbank, the National Bank of Austria and the Swiss National Bank in January
Cyprus names auditor-general as new central bank governor
Cypriot president moves fast to appoint Chrystalla Georghadji, the head of the state audit office, as successor to Panicos Demetriades, who resigned from his post earlier this week
Slovakian economists build new framework for estimating output gap
Researchers combine a variety of methods and information sets to ‘substantially reduce’ the uncertainty of output gap estimates on a ‘policy-relevant’ horizon
Brazil minutes highlight inflation 'resistance' concern
Central Bank of Brazil remains concerned about 'resistance' of inflation despite more than 400bp of rate rises, latest minutes show
Target2 'filled in' balance of payments gaps during euro crisis, NY Fed paper finds
Federal Reserve Bank of New York study finds adjustment to the pullback of private capital during the euro crisis made less harsh by Target2
BoE could act as lender-of-last-resort for Scottish banks
Bank of England's Mark Carney refers to European Union's discretionary approach during euro crisis; suggests independent Scotland would need to increase foreign reserves
Dombret calls for cap on bank loans to sovereigns
Deutsche Bundesbank board member advocates a cap on the amount banks can lend to an individual sovereign, as they should never ‘put all their eggs in one basket’
BIS economists give forward guidance mixed review
Research in quarterly review says forward guidance has shaped market expectations but warns it could ‘encourage excessive risk-taking’ in the markets
Bank of Israel cut rates despite 'rapid' increase in house prices
Four out of five members of the Bank of Israel's MPC backed last month's 25 basis point rate cut to 0.75% following weaker performance across range of indicators
Czech paper deconstructs exchange rate variability in advanced economies
Researchers find that economic fundamentals are only responsible for a third of the medium-term exchange rate variability, although this increases when the euro is involved
Bank of Canada revamps website
The Canadian central bank has sought to simplify the design of its website and make it easier for users to locate information across a variety of devices
RBA takes next step in opening up payments market
Shake-up of access regimes aims to give more room for competition in the Australian payments market; proposed changes still need amendments to legislation to go ahead
Fed not to blame for recent emerging market sell-off, says BIS
Recent rush of capital out of emerging markets was due to country-specific factors, not tapering by the Fed; Borio reiterates call for better policies, lamenting a ‘disappointing element of déjà vu’
Hämäläinen returns to ECB in latest SSM board appointments
Central bank fills three of its four slots for representatives on the SSM’s supervisory board, with former board member Hämäläinen joined by Canadian supervisor Julie Dickson, and the ECB's own Ignazio Angeloni
International perspective helps resolve domestic economic puzzles, says Canada deputy
Bank of Canada deputy governor John Murray underscores the importance of looking beyond borders when setting monetary policy