Articles by Central Banking Newsdesk
Ingves deflects criticism of ‘complex’ Basel III framework
Basel committee chairman says it is naïve to think complex banks can be regulated by simple rules, following criticism of Basel III’s ‘overly complicated’ system of risk weights
Bank of Italy steps in to investigate ‘hidden' derivatives deals
Central bank to investigate Monte dei Paschi di Siena trades in collaboration with judicial authorities, as the Italian bank seeks €500 million in 'Monti bonds' to cover potential losses
Carney insists Bank of Canada will tighten policy despite holding rates again
Mark Carney says the withdrawal of monetary stimulus is postponed, but not cancelled, as Bank of Canada’s governing council holds rates again
IMF research finds inflation targeting can dampen risk premiums
Working paper suggests inflation targeting reduces a country’s risk premium, although this effect is stronger for emerging markets and where inflation targeting is successful in stabilising prices
Bank of Finland researchers examine role of liquidity creation in bank failures
Experience of Russia from 2000–07 suggests early identification of excessive liquidity creators can 'mitigate systemic distress'
Macro-prudential policy can prevent euro area imbalances, says Polish paper
National Bank of Poland study finds macro-prudential instruments can prevent periphery and core imbalances emerging in the euro area, but only if applied regionally
IMF predicts chequered growth performances in 2013
Updated World Economic Outlook forecasts wide disparities between countries’ growth performances in the next year; overall estimates revised down since October
Draghi optimistic as ‘darkest clouds’ in euro area subside
ECB president Mario Draghi praises the euro area’s achievements in 2012, and urges countries to be unrelenting in their pursuit of reform
UAE central bank launches lending cap consultation
United Arab Emirates central bank responds to finance community's concerns by sending a questionnaire to canvas opinion on home loans caps
Bank of England unwavering in support for inflation target
MPC members hold interest rate and asset purchases to keep inflation on course to reach 2% in medium term; King condemns replacing price stability with economic growth target
ECB working paper posits improved volatility measure
Paper proposes new measure of volatility that provides information on whole market rather than single maturities; authors say results are simpler and more robust than existing models
IMF paper considers macroprudential needs of resource-rich countries
Study considers Mongolia’s commodity boom, finding that risks arise from loose fiscal policy, increasing credit availability and a high risk appetite
Bank of Spain charts economy’s downward acceleration
Data for fourth quarter show economy continuing to spiral downward, with contractions in growth and demand gaining pace
Mauritian governor demands faster financial market expansion
Rundheersing Bheenick disappointed by slow bond market development; says central bank and others must increase efforts
Mervyn King makes final ‘regional' speech as BoE governor
King provides diagnosis, prescription and prognosis for the UK economy, and expresses fears over currency wars
Bundesbank president staunchly defends independence
Jens Weidmann speaks out against the increasing politicisation and expansion of central bank mandates
Nigerian central bank tells government to act on oil
Monetary Policy Committee cautions government against ‘complacency’ in tax revenue collection and says swift action is needed to support the struggling oil industry
Belgian paper finds Fed policy influenced by Taylor rule
Working paper presents evidence that Federal Reserve policy-makers are influenced by the Taylor rule when making monetary policy decisions
Irish deputy lays out arguments for banking union and SSM
Gerlach says while monetary policy and bank supervisory bodies should be separate, siting them together can bring benefits
ECB's Benoit Cœuré calls for sweeping structural reform of eurozone economies
Cœuré says monetary policy 'no substitute' for structural shifts in the economy, in order to maintain Europe's social contract
Thai governor wary of prolonged easing
Prasarn Trairatvorakul says Bank of Thailand must be aware of the risks continued monetary accommodation poses to financial stability; also targets greater payments efficiency in 2013
Stricter governance standards proposed in Cayman Islands
Cayman Islands Monetary Authority hopes to create a database with basic details on every financial institution it regulates; directors seeking to sit on six or more boards will be scrutinised
BoJ paper challenges FSB governance style
Discussion paper asks whether ‘new governance’ model used by Financial Stability Board is effective, and suggests possible avenues for reform
Finnish paper finds sterilisation bonds can benefit Asia
Bank of Finland discussion paper examines rising use of sterilisation bonds by six central banks in Asia and finds ‘encouraging’ evidence of their effectiveness