Central Banks
Machine learning can produce better forecasts – RBI paper
ML tends to outperform standard models, but combining forecasts is best, authors say
Macro-pru is no panacea
Many central banks need better macro-prudential policy frameworks and communication at a time of rising political interference
Georgieva emerges as sole contender for IMF top job
Bulgarian national set for managing director role as no challenger comes forward
UK lawmakers call for transparency on BoE governor appointment
MPs call on finance minister to make shortlist public as survey highlights trust deficit
IMF research flags urgent need for climate policy framework
Co-ordination of fiscal, financial and monetary instruments will be needed, say authors
BIS paper tracks new channel for funding ‘dry-ups’
A squeeze in one market can spill over to institutions with no direct exposure, authors find
Bank of Israel research derives growth estimate from survey data
Researchers construct real-time indicator that can be produced earlier than nowcasts
MAS launches initiative to help payment firms with compliance
Two-month pilot will help connect payment firms with legal service providers
30 years of forecasting: have central banks learned anything?
Forecasting models are constantly being upgraded, but forecast errors are still persistent. What more can central banks do?
EU regulators must co-operate more over money laundering – EBA head
EBA will set up cross-border AML “colleges” but governments need to improve mandates, says Campa
BoE paper models exchange rates with private money creation
Uncovered interest parity does a poor job of explaining exchange rates on its own, authors say
Inflation targets may have to rise, new study finds
Optimal policy would see targets rise by roughly the same amount as the decline in neutral rates, researchers say
Former Ukrainian governor says she was targeted in attack
Central bank says police must protect officials after Gontareva reveals she fears for her safety
IMF’s board of governors removes age limit for new managing director
Move could pave the way for the appointment of Europe’s nominee, Kristalina Georgieva
China lowers reserve requirements after premier’s intervention
PBoC cuts reserve requirement by 50bp to boost lending, its third move this year
Riksbank maintains tightening plans despite lower rates globally
Sweden’s central bank adds it will increase rates at a slower pace than it planned earlier in 2019
Fed floats new stress test reforms after industry pressure
Previous proposal drew criticism from major global banks
Eurozone needs low-risk asset, ECB paper says
New asset would allow banks to change holdings of sovereign bonds, researchers argue
EU should stick with Basel output floor – ECB’s Enria
ECB supervision chief urges lawmakers to implement contentious Basel III model constraints
BIS authors offer advice on escaping low inflation trap
Luiz Pereira da Silva and co-authors say “snapback” unlikely, given changing labour markets
Households respond more forcefully to rate cuts than QE – Dallas Fed
Fed should improve communications for QE and forward guidance, researchers say
Liberian judge releases three central bank officials on bail
Ex-governor Milton Weeks and other ex-officials bailed after “heated argument” in court