Central Banks
Praet says household heterogeneity key to understanding transmission mechanism
New Household Finance and Consumption Survey can bring new insights into how individual households are affected by economic shocks, says ECB chief economist
IMF paper sets parameters for model short-term real interest rate
Working paper sheds light on a ‘crucial' but overlooked question - and shows that the elasticity of interest rate volatility plays a crucial role in explaining real interest rate dynamics
Madagascan deputy steps up to top job
Vonimanitra Razafimbelo appointed acting governor, just over a month after her predecessor Guy Ratovondrahona died; appointment comes a week ahead of presidential elections
BIS' Caruana identifies ‘new' threats to central bank credibility
Central bank independence is under pressure from unprecedented monetary policies, says BIS manager; argues banks' ‘credibility in fulfilling their mandates' is at stake
Fed’s Beige Book reveals ‘modest’ employment growth
Summary of the economic conditions across the 12 Federal Reserve districts finds both employment and economic activity were ‘modest’ in September, while price pressures were ‘limited’
Swedish policy-makers clash on mortgage risk weights
Heads of Sveriges Riksbank and Swedish Financial Services Authority disagree over where to set the risk-weight floor on mortgages
ECB seeks head of new human resources office
Recruitment and operations section will be responsible for recruitment and ECB employees' contracts, salaries, and benefits; overhaul comes as ECB gears up for SSM implementation
BIS publishes data disclosure standards for CCPs
CPSS and Iosco set requirements for which quantitative data central counterparties should release and when; aims to increase transparency around the risks associated with them
BoE breaks ground with live Twitter Q&A
Bank of England chief economist Spencer Dale will answer questions on monetary policy and forward guidance through the central bank’s Twitter account tomorrow morning
CNB's Lízal sets out case for forex intervention
The use of forex interventions to ease monetary conditions in an open economy is a rational choice at the zero lower bound, Czech National Bank board member tells finance conference
Fiscal profligacy biggest threat to central bank independence, says Dudley
Netherlands Bank president Knot is concerned by the possibility of negative capital in central banks, but New York Fed's Dudley says the sustainability of national budgets is a bigger problem
Cyprus finance minister says governor Demetriades is 'under scrutiny'
Harris Georgiades says expanded central bank board will improve governance; argues banks will succeed in raising equity as capital controls are lifted
Mix of micro and macro indicators improves chances of spotting bank distress early on
ECB working paper presents ‘early warning model' using bank and country-level data for predicting individual bank distress in Europe
BIS praises ‘complex’ payments reform in Macedonia
New payment system implemented near the turn of the century created a more efficient and sophisticated industry; potential EU membership driving additional reforms
RBA mulls further rate cuts as dollar keeps rising
Minutes of the latest monetary policy meeting show concerns remain over strong Australian dollar; new record low interest rate remains possible
San Fran economists suggest labour market leading indicators
Economists identify the six best indicators for assessing the degree to which labour market conditions are improving; find the existing rate of recovery will continue ‘if not accelerate’ in coming months
Bank of Lithuania prepares for move into equities
Central bank announces plan to invest in riskier assets after returns on its foreign reserves drop close to zero; follows gradually increasing trend among central banks
BoE's Martin Weale still unsure over Carney's forward guidance by consensus
Bank of England's forward guidance dissenter explains ongoing qualms over how forward guidance works at the BoE, as he is re-appointed to a second term
Blanchard, Cecchetti, Frenkel and Taylor debate limits of central bank independence
Illustrious panel at Bank of Mexico conference debates pros and cons of central bank independence; Cecchetti says full independence is ‘at odds’ with democracy
G-20 inflation measure paves way for co-ordinating policy
New statistic aims to fill ‘data gap' identified in wake of the global financial crisis; follows growing calls for globally coordinated monetary policy as countries fret over effects of QE
European Council approves ECB's single supervisory mechanism
The SSM is a precondition for enabling the European Stability Mechanism to be able to directly recapitalise banks - breaking ‘the vicious circle' between banks and sovereigns, Council says
Riksbank hits back over ‘systematically inaccurate' inflation forecasts
Swedish central bank rebuffs claims from the National Institute of Economic Research, that it has overestimated inflation for more than a decade with implications for interest rates and growth