Central Banks
European researchers examine impact of capital inflows on long-term interest rates
Bank of Portugal working paper says the foreign accumulation of eurozone bonds may have led to “excessive risk-taking” at a global level by depressing interest rates
OECD warns taper hits developing-world growth prospects
Paris-based club of advanced economies warns taper will combine with declining commodity cycle and anaemic eurozone growth to hurt the growth prospects of developing countries
Nakaso backs BoJ to exit QQE smoothly
Bank of Japan the only central bank with experience in exiting QE; Hiroshi Nakaso says it has an ‘extensive’ range of instruments at its disposal
Highly indebted poorer households pose risk to Israeli banking system
Bank of Israel says lenders should look more carefully at ‘payment-to-income' ratio, which is highest for those households most exposed to macro- and micro-level economic shocks
Lautenschläger sees TLTROs impacting real economy from next year
Executive board member warns targeted lending programme will ‘take longer’ than other policies to work through economy; markets question whether banks will demand the estimated €1 trillion
Icelandic police chief heads ‘bizarre' committee to choose next governor
Icelandic economists criticise choice of Reykjavik police chief to chair three-person panel charged with recommending the next central bank governor
Cut in capital requirements opens door for new UK banks
Regulators say efforts to lower barriers of entry for small banks, including lower capital requirements and easier application process, is spurring competition
Gualtieri elected chair of ECB watchdog committee
New Econ Committee members approve Italian socialist as chair; Gualtieri faces an early test of his composure as German politician Bernd Lucke is rejected as vice-chair
Luxembourg paper busts myth of money ‘parked’ with central banks
Researcher at the Central Bank of Luxembourg argues the increase in central bank deposits in the Eurosystem is not a reflection of banks’ lending habits
Thai governor stresses value of independence
Prasarn Trairatvorakul calls on the new Thai government to ‘protect’ the central bank’s independence, which he describes as ‘the very source’ of its credibility
New Zealand mulls coloured coins
Geoff Bascand reveals details about the RBNZ’s forthcoming banknote series; suggests new technologies could ‘supplant cash’ in years to come
Lagarde highlights threat of renewed EM volatility
IMF director lauds ECB assault on low interest rates and highlights importance of central bank communication as Federal Reserve continues to taper
Central bankers insist rates are staying put as BIS faces ‘loss of credibility'
Haldane says risk 'migration' could create a more robust financial system; Yellen, Draghi and Cunliffe believe monetary tightening would be the wrong way to turn
Mario Draghi can ‘use the force' in central banking ‘confidence trick'
Market participants say ECB president Mario Draghi is the ‘Yoda' of central banking for his adept use of ‘Jedi mind tricks'
People: Deputy governors appointed in Russia and India
China Investment Corporation appoints fifth executive vice-president; new director of insurance supervision at the Central Bank of Ireland
ECB's Cœuré says German lowflation threatens to trigger eurozone ‘race to the bottom'
Executive board member argues bank's June measures were necessary as Germany plays a 'benchmark role for peripheral countries in correcting their imbalances'
Bad news in US and Europe calms emerging markets, says Banxico deputy
Market calm in EMs ‘seems to increase with bad news from the pace of recovery in advanced economies', says Manuel Sanchez
ECB cuts frequency of monetary policy meetings
The governing council will set policy once every six weeks from January 2015; when combined with new rotation system national central bank governors will only vote six or seven times each year
Solomon Islands paper investigates monetary policy transmission mechanism
Second paper in a new series from the Central Bank of the Solomon Islands examines role of M1 and exchange rate on inflation and output in the Pacific archipelago