Central Banks
BoE’s profits dip on higher banknote and research expenditure
But total expenditure comes in below budget due to lower headcount than expected
BoJ cuts inflation estimate as it holds rates
Goshi Kataoka is sole MPC member to call for looser policy
Fed acts to limit largest banks’ mutual exposures
Largest banks in the US face limits on their exposures, but smaller banks are exempt for now
Trump’s fiscal policy threatens emerging markets – Lagarde
Looser fiscal policy could increase market volatility and worsen global imbalances- IMF chief
Bank of Thailand allows securities firms to provide forex trading services
Central bank says rule change will improve market flexibility
ECB commits to tapering bond purchase programme
Unanimous decision says bond purchases will taper if data confirms medium-term outlook
China eases restrictions on foreign investors
New rules allow qualified foreign investors to move funds more freely out of China, a step forward on capital account liberalisation
Tunisia raises rates by 100 basis points to tackle inflation
Despite hike, real rates remain negative; international reserves decline to 71 days of imports
Woodford shows finite horizons matter when modelling
Removing rational expectations can change key economic results, says Michael Woodford
RBA unlikely to hike in short term on low inflation – governor
Current wage growth insufficient to hit inflation target on a sustained basis
IMF report says Mauritius central bank needs clearer resolution powers
Current framework restricts regulator from acting in a timely manner – IMF staff
Central bankers share vision for ‘business as usual’ big data
Panellists offer advice on how to build the infrastructure for good data governance
Fed hikes another 25 basis points
Hike comes as US inflation runs at target, and emerging markets complain of funding squeeze; Powell reveals change to communications approach
ECB unlikely to commit to QE end date in June meeting
Most economists expect gradual reduction of asset acquisitions, and an open-ended programme
Bank of Lithuania to regulate ICOs that mimic securities
Where coin offerings have properties of securities, the central bank will have oversight; financial institutions could have licence withdrawn if regulation is not followed
QE boosts bond prices above ‘fundamental’ level, Banque de France paper finds
Paper uses experimental techniques to simulate QE’s effects on bond markets
People: US Senate committee approves two Fed governors
Philippines appoints monetary board member; Cleveland Fed appoints director at Pittsburgh branch
BIS paper studies evolving renminbi exchange rates
It is “premature” to declare a stable zone for the renminbi, the paper concludes
Sarb should adopt mid-point in inflation target band – IMF
Inflation expectations could be lowered with the explicit adoption of a mid-point at an “opportune time”, fund says