Central Banks
Thailand’s macroeconomic policy at a ‘turning point’ – Santiprabhob
Policy will have to evolve to support the economy rather than stimulate it, governor says
RBI figures show demonetisation captured very little ‘black money’
Over 99% of banknotes were returned despite high cost to the economy
‘Stochastic lower bound’ impacts inflation – BoE paper
Assuming the lower bound is fixed might be unrealistic, authors say
Vietnam allows renminbi payments in border areas
Renminbi payments designed to cut risks and boost trade
Nigerian central bank demands repatriation of $8 billion
CBN says South African firm and local banks illegally transferred funds outside country
Argentina hikes to 60% as peso drops further
Monetary policy committee holds emergency meeting amid fresh trouble for the currency
Singapore aims to become e-FX hub for Asia, says MAS’s Loh
Jacqueline Loh says Singapore wants more price discovery to take place in the country
China’s ‘big five’ banks highly inefficient – Bank of Finland paper
Biggest lenders suffer from persistent inefficiency, researchers say
Policymakers should focus on slack even amid uncertainty – Fed paper
“Standard advice” from the literature may be flawed under current conditions, authors warn
Central Bank of the Philippines gets mandate to regulate payment systems
Payment systems could be placed on blacklist if they pose a risk to the financial system
RBA suffers payments outage after fire test
“Routine maintenance” led to loss of power at main data centre
Published rate path has similar effect to other communication – BIS study
Communication is important, but the “exact form” less so, according to research
Clarida confirmed as Fed vice-chair
US Senate approves appointment with 69 votes in favour, 26 against and four abstentions
Global crisis uncertainty harmed investment – BoE paper
Authors say their results offer a benchmark for possible Brexit-related uncertainty
Turkish lira back under pressure amid Moody’s downgrade
Central bank raises overnight borrowing limits; dwindling reserves could prove a challenge in the months ahead