Central Banks
2019 a bumper year for coins – RBNZ data
Over 120 million coins were minted for New Zealand’s central bank last year
CPMI tracks further decline in correspondent banking
Number of active correspondents down over 20% since 2011, latest data shows
Book notes: Quest for restoring financial stability in India, by Viral Acharya
A definitive contribution to the political economy of central banking in emerging economies, but Acharya does not acknowledge the challenges moving forward
Colombia cuts rates to record-low 2%
Below-target inflation allows new central bank action to boost growth
Raising inflation expectations may depress growth – Jackson Hole paper
More nuanced communication would help public understand state of the economy, say researchers
Record-low inflation may require ECB to boost PEPP purchases
HICP index expected to decline year on year by 0.2% in August; core inflation at record-low 0.4%
BoE open to heterodox tools in new research agenda
Traditional tools of economic analysis “cannot always answer every question”, says Andrew Bailey
Uncertainty hampering Fed’s and Congress’s stimulus
Research says uncertain outlook created by pandemic has been a key contributor to size of recession
RBA hones in on data management as part of 2021 strategic plan
Central bank will look to bolster technology infrastructure
Average inflation targeting could cut inequality – Fed paper
‘Hank’ models tend to be supportive of Fed’s new approach to inflation targeting, research finds
Klaas Knot on ECB policy-making, the FSB and central bank ‘capture’
DNB president talks about the temporary nature of unconventional policies, the importance of inflation target ‘bands’, the role of central banks as ‘circuit-breakers’ and ECB decision-making under Christine Lagarde
Japan’s economy needs bolder policies
PM Abe announces decision to step down with many goals still unachieved
Don’t wait too long to normalise balance sheets – Bailey
Central banks need to unwind balance sheets when tightening policy, BoE governor warns
Central bank comms need “second sea change” – Canadian governor
Pandemic has shown importance of transparency and communications, Tiff Macklem says
ECB ready to adjust its policy instruments – Philip Lane
MAS chairman warns that post-pandemic labour markets will need new public policies
Covid-19 could depress growth for decades – Jackson Hole paper
“Pyschological scarring” could severely stunt future investment, researchers argue
Malta’s banking sector should withstand pandemic – central bank
Central bank says some lenders may struggle, but results of stress tests show most banks are secure
Regulators must deal with AI risks – HKMA report
AI systems must keep “humans in the loop”, expert tells Central Banking
Bank of Korea forecasts GDP will contract by 1.3%
Central bank leaves interest rates on hold but says growth outlook remains uncertain
Fed adopts average inflation target
Powell says FOMC will also allow employment to run above estimated maximum level
Argentina requests new IMF programme
Government and central bank say economic stabilisation is not possible without recovery