Central Banks
BIS calls for monetary tightening not heeded by major central banks
The BIS's latest annual report voices the private concerns of the world’s leading central bankers. But it falls short on action that will hold national governments to task
Central Bank of Peru’s Julio Velarde on the impact of Fed tapering
Peru is more insulated against shocks to its financial system than in the past but managing uncertainty has never been tougher, Central Bank of Peru governor Julio Velarde, tells Christopher Jeffery
The PBoC, the liquidity squeeze and market liberalisation
The PBoC was accused of poor communication and inaction when interbank rates spiked in June. But Hui Feng believes the central bank wanted to give regulated financial institutions a warning
A status report on Dodd-Frank and the Volcker rule
As the US and Europe move closer to co-operating on derivatives legislation, Vembar Ranganathan looks at the status of Dodd-Frank implementation aimed at curbing excesses in the derivatives market
HKMA primed for mobile payments surge
The Hong Kong Monetary Authority is enhancing the legal and supervisory framework needed for the safe development of retail payments for its echnology-savvy population
Bank of Lithuania’s Vitas Vasiliauskas on Europe’s push to banking union
As Lithuania takes on the presidency of the European Union, Bank of Lithuania governor Vitas Vasiliauskas speaks with Daniel Hinge about the efforts to end the euro crisis
New central bank policy mandates could cause vicious feedback loops
The trend for central banks to take on mandates for prudential policy in addition to monetary policy could cause dangerous feedback loops in the absence of a well-defined risk appetite
The Bretton Woods transcripts: debate about the World Bank and the BIS
Andrew Rosenberg highlights the secondary importance of negotiations to create the World Bank and cover ‘other discussions’ as well as Norway’s objections to having the BIS once the IMF was founded
Book notes: The Battle of Bretton Woods: John Maynard Keynes, Harry Dexter White and the Making of a New World Order
A fscinating account of the Bretton Woods conference from the point of view of its two main players: John Maynard Keynes and Harry Dexter White
Book notes: Bank of Finland 200 Years: Parliament’s Bank part II
An account of the central bank's dramatic history from December 1939 to the present day
International banks pose risk to global financial system, NY Fed paper finds
Evidence from 2007 suggests banks can more easily deal with a credit crunch in their home jurisdiction than they can overseas, which could be a weak point in the global system, paper finds
Sandra Pianalto to retire next year
Cleveland Fed president Pianalto calls time on a 30-year career at the bank; successor will sit on the FOMC in 2014
ECB paper backs broader financing alternatives
Occasional paper says the ECB’s monetary polices has had an ‘uneven effect’ on eurozone businesses; calls for more diverse capital structures
Central Bank of Peru grapples with Fed tapering while rooting for a US recovery
Peru is more insulated against shocks to its financial system than in the past but managing uncertainty has never been tougher, central bank governor Julio Velarde tells Central Banking
RBI study warns against rate cut to stimulate growth
Study by members of policy and statistics departments says any benefits of a rate cut would be offset by higher inflation; Rajan points to stronger economic institutions as the key
‘Striking similarities' between eurozone and the pre-1914 gold standard
Both monetary arrangements provide underdeveloped peripheral countries with easy access to capital from the core countries, triggering asset price booms via the banking system in peripheral countries
Thai governor hankers for return to ‘normal' monetary policy
Bank of Thailand's Prasarn Trairatvorakul says he wants to see an end to advanced economy QE as the central bank has come under increasing pressure to manipulate the baht
Philadelphia paper models export dynamics after large devaluations
Working paper says that exports responds ‘sluggishly’ to a large currency depreciation; creates a model to capture these dynamics and explore their macroeconomic impacts
RBA cuts growth forecast and suggests further easing could follow
Reserve Bank of Australia lowers its forecast for December’s growth rate; could follow up this week’s rate cut with another as labour market conditions weaken