Central Banks
IMF urges Algeria to abandon monetary financing
Fund says a weaker dinar would support efforts to reduce debt
Sarb says blockchain project exceeds expectations
System has capability to process twice the number of transactions as the current RTGS system
Some macro-prudential policies may increase income inequality – DNB paper
Researchers look at data from 69 countries from 2000–13
RBI pledges to create public credit register
Existing system is fragmented, making it hard to accurately assess a borrower’s credit history
Switzerland weighs bold monetary experiment
On June 10, Switzerland will vote on whether to revolutionise its monetary system and hand the central bank a monopoly on money creation
Creating a diverse workforce isn’t easy – San Fran Fed’s Daly
Improving diversity in the research department has taken concerted effort, says Mary Daly
Riksbank says Nordea’s relocation to Finland could increase financial risks
ECB expected to decide later this month whether to grant banking licence to Nordic lender
BoJ’s bond purchases impact credit spreads – paper
The BoJ’s corporate bond holdings have reached $29 billion, or about 0.6% of GDP
Riksbank considers joining eurozone’s real-time payments network
Stefan Ingves says central bank may have to investigate issuing a digital currency
First female governor appointed to Bank of Macedonia
Deputy governor appointed after lawmakers reject second term for incumbent
DNB develops new instant payment network
Banks will be able to process payments within seconds by mid-2019, the central bank says, but evolution of cash infrastructure will continue
Is the US dismantling Dodd-Frank?
Richard Heckinger asks whether recent amendments to the Dodd-Frank Act amount to technical tweaks or full-scale rollback
Good policy makes Phillips curve harder to identify – BoE’s Tenreyro
MPC member argues fears the Phillips curve has disappeared are “largely misplaced”
Banque de France paper sketches policy routes for post-crisis central banks
“New orthodoxy” would see unchanged policy goals, but more freedom to lower interest rates
Bank of Botswana urges government to reduce reliance on diamonds
Central bank believes demand for commodity is likely to dwindle in the future despite global recovery
Visa outage highlights fragility of electronic payments
European network experiences outage for several hours on June 1, due to hardware failure; consumers forced to withdraw cash to make payments
Labour supply elasticity may hamper wage growth – Riksbank’s Ohlsson
As economic demand rises it can be satisfied by a higher number of workers