Articles by Central Banking Newsdesk
IMF paper analyses US capital flows and debt
Fund working paper develops model of international capital flows and resulting impact on debt dynamics; finds equity and FDI returns allowed US to maintain high debt levels
Norway’s SWF adds $340m of property to portfolio
Norwegian sovereign wealth fund buys stakes in French property worth $340 million; aims to expand real estate investments into other European markets
Danish central bank acts to counter negative interest rate
National Bank of Denmark lowers certificates of deposit rate to -0.2%; raises banks' current account limits to help them keep funds away from negative rate
Hungarian central bank blasts government tax plan
National Bank of Hungary says government plans for financial transaction tax threatens central bank independence; levy is latest development in conflict between central bank and government
Markets recoil as major central banks ease policies
Chinese, European and UK central banks take monetary policy action; moves leave no doubt about gloomy global economic picture as eurozone stock markets fail to rally
Bulgarian governor praises success of macro-prudential policy
Ivan Iskrov describes Bulgarian experience of macro-prudential policy; says Bulgarian National Bank was ahead of curve in regulating financial system
IMF paper assesses drivers of banking equity returns
Working paper studies factors behind movements in bank equity prices; finds that despite general 'dismal' performance, equities of better capitalised and less leveraged banks perform best
Bank of Canada reports payment system developments
Report reviews Bank of Canada’s activities in promoting clearing and settlement systems; says operations support 'stability and efficiency' of financial system
Mexican deputy governor weighs challenges facing economy
Bank of Mexico’s Manuel Sánchez examines effect of capital inflows and eurozone problems on Mexican economy; says growth expected to continue at a moderate rate
Bank of Mauritius to investigate fair banking practices
Bank of Mauritius promises to investigate terms and conditions of contracts consumers sign, including fees, commission and charges levied by banks; following rise in complaints
Slew of central banks hold rates amid economic uncertainty
Riksbank, National Bank of Poland, Reserve Bank of Australia and Central Bank of Colombia all keep policy rates unchanged; central banks offer mixed message on global economy
Sarb makes $60m loss due to costs of forex intervention
South African Reserve Bank suffers loss in fiscal year 2011/12 due to cost of forex activities; governor describes economic challenges in coming year as ‘daunting’
Democratic Republic of Congo fights dollarisation
Central Bank of the Democratic Republic of Congo releases new high-denomination banknotes; move signifies efforts to limit dollarisation in the country but also poses inflation risk
IMF paper assesses eurobond proposals
Working paper considers five proposed methods of common debt issuance in Europe; argues there must be a “fundamental discussion” to avoid unintended consequences
Bangladesh governor stresses importance of SMEs
Atiur Rahman sets out steps to encourage growth of exports by small and medium enterprises; says central bank is active in promoting financial inclusion and supporting business infrastructure
Vietnam central bank statistics show positive outlook
Statistics published by the State Bank of Vietnam highlight steady economic recovery; nevertheless, central bank says “strong efforts” necessary to hit annual growth targets
Fed paper analyses core inflation measurement
Working paper attempts to produce optimal gauge of core inflation by excluding items with high variance; finds new index outperforms current measures ex-post, but is no better ex-ante
Second wave of CSDs sign T2S framework agreement
A total of 15 central securities depositories sign T2S framework agreement in second wave; system set to go live in June 2015
IMF issues updates on German and US economies
International Monetary Fund notes Germany’s “remarkable” economic performance; warns US over “tepid” recovery
Noyer sets out eurozone financial union necessities
Governor of the Banque de France identifies three main powers needed to ensure eurozone financial union; “massive firepower” needed by bank emergency fund
IMF paper examines Japan’s emergence from lost decade
Working paper considers reasons behind a surge in Japanese exports in 2001; finds domestic productivity growth most important factor
Fed paper evaluates impact of QE
Working paper examines data from first round of Federal Reserve’s asset purchase programme; finds both immediate and longer-run effect of purchases on yields
Israel’s Fischer calls for government to cut deficit
Stanley Fischer says Israeli government must cut its budget deficit to prepare for possible economic shocks from Europe; argues government should aim for deficit of 2.5% of GDP
RBI paper examines monetary policy transmission
Working paper studies channels of monetary policy in India; finds main impact made via interest rates but also identifies credit and asset-price effects