Central Banks
Market-based systemic risk metrics ‘crucial’ for supervisors
Paper finds measures are effective at predicting crises in the US over a long period
Peer-reviewed journals still top gauge for research impact
Smaller teams more likely to consider conference presentations as assessment tool
Banknotes: October to December 2024
A round-up of news and salient issues that have affected central bankers in the past three months
BoE stress test highlights liquidity risks in non-banks
“First-of-its-kind” scenario exercise reveals how repo financing could be insufficient during shocks
Australian parliament passes bill to reform RBA
Bank’s board to be split into two groups covering monetary policy and governance
Norway joins Target instant payments system
Country becomes first non-EU member to settle payments in Tips
Basel Committee examines use of CCyBs across jurisdictions
Report highlights how more jurisdictions are implementing positive neutral buffer rates
Hungary’s PM chooses finance minister as MNB governor
Appointment of Mihály Varga likely to improve bank’s relations with government after recent tensions
Cross-currency letters of credit gaining popularity in Asia
Divergent central bank policies see CNH LCs increasingly used to cover USD invoices
Inflation and GDP growth forecast errors decrease further
Forecast errors used widely for key model adjustments
People: October to December 2024
A round-up of central bankers in the news and on the move
Keep liquidity provision loose during shocks – ECB study
Central banks can lessen harm to economy by reducing liquidity premium, say authors
FSB praises Brazil’s efforts to supervise investment funds
Review points to progress in limiting leverage but says regulatory body needs more staff
BoK makes surprise 25bp cut to base rate
Majority of monetary policy board decides risks to growth warrant loosening in policy
One in five main models has endogenous financial sector
Benchmark highlights array of methods central banks use to model financial sector, but 40% still do not model the financial side of the economy
NBER paper offers ‘unified theory’ of liquidity traps
Researchers ask whether major economies are doomed to return to zero lower bound
PM ‘overruled MNB building’s heritage status’ – whistleblower
Governors’ meeting prompted expedited approval for panorama deck on listed site, says former official
Bank of Lithuania steps up AML/CFT measures for crypto
Bank to co-operate with financial crime investigators to oversee ballooning digital assets sector
Imported inflation waning but still present – BoE’s Dhingra
MPC member tells panel that another energy shock could still trigger renewed price hikes in UK
RBNZ delivers third consecutive rate cut
Central bank signals further easing early next year as inflation returns to target band
Nigeria tightens policy further as inflation continues to rise
Central bank raises rates by 25bp as annual headline inflation exceeds 33%
Central banks published fewer working papers and articles in 2023
Middle income and low income central banks published less
US rate hikes ‘lock in’ homeowners – Fed study
Tighter monetary policy raises house prices and reduces churn, research finds
Upping LCR will not address systemic risks – Hernández de Cos
Panellists shed light on liquidity risks in banks, non-banks and US Treasuries