Central Banks
The puzzle of monetary policy
The centrepiece of macroeconomic management, inflation targeting by central banks, remains virtually unchallenged despite the crisis of the past five years. This needs to change, argues John Gieve
Filipino banks offered help after tropical storm
Variety of measures put in place to ensure banks in areas affected by tropical storm and severe monsoon can assist with rebuilding efforts; penalties for missed payments set aside for example
Where the BIS falls short
Robert Pringle compares the analysis and policy recommendations offered by the BIS in its latest annual report with those in his new book, The Money Trap
The beginning of the end for renminbi internationalisation?
The People’s Bank of China has surprised market watchers by taking critical steps to liberalise the renminbi and interest rate policy in the country
Central bank's crucial role in Myanmar's new economic reform
The Central Bank of Myanmar is on the verge of securing operational independence and a budget that will enable it to double its headcount to help it oversee rapid economic reform
Keeping sight of the real inflation target
The appropriate construction of CPI indexes is vital to maintain public confidence in inflation targets. Jill Leyland points out issues in current index construction
Can Japan afford to grow?
Japan has managed to maintain living standards during its two ‘lost decades’, but its efforts to do so now represent obstacles to achieving sustainable growth. By Ryo Watabe.
Germany's concerns about the ECB’s bloated balance sheet
The ECB’s unconventional monetary policy actions have caused a stir in Germany. The Bundesbank's Joachim Nagel speaks with Klaus Engelen about the risks the ECB now faces
National Bank of Ukraine's Sergei Arbuzov on economic development
Sergei Arbuzov, governor of the National Bank of Ukraine, talks to Catherine Snowdon about past mistakes by the government and how the country is working to develop its economy
The flaws in the Fed's new macro stress test proposals
New macro stress test proposals by the Fed and ECB appear to conflict with rules put forward by the UK, and are raising concern in countries where financial institutions are relatively robust
Book notes: End This Depression Now!
One of the rock stars of economics has written another hit
Dallas Fed research questions Chinese growth data
Economic letter uses proxy for industrial production to estimate Chinese growth; suggests official figures may understate the extent of the slowdown
Central Bank of Chile paper tests inflation forecast models
Working paper compares inflation forecast accuracy of new autoregressive model and “traditional” univariate models; finds improvement in short run but mixed results over longer horizon
BoJ’s Shirakawa calls for 'drastic deregulation' to promote growth
Masaaki Shirakawa sets out possibilities for encouraging increased investment to promote growth and inflation expectations; firms reluctant to borrow despite monetary easing
IMF paper studies impact of US interest rates on sub-Saharan Africa
Working paper assesses degree to which exchange rates in sub-Saharan Africa respond to changes in US interest rates; finds movements depend on openness of capital account
Outgoing Serbian vice-governor fearful over repercussions of law change
Bojan Marković voices concerns over long-term impact of changes to Serbia’s central bank law; says rushed passage of legislation and change in senior management could cause problems
Central Bank of Cyprus calls in external investigators
Professional services firm to look into the circumstances that led two Cypriot banks to seek state support; investigation starts today