Central Banks
‘Does the Fed know more about the economy?’ asks San Francisco Fed
Researcher compares Fed and private sector growth forecasts
Low interest rates adding to high global stability risks – IMF
Monetary policy-makers must look at both short- and medium-term stability risks, says Tobias Adrian
Cyber fraudsters starting to rethink tactics – report
Swift research shows hackers have switched to transferring smaller amounts during normal business hours
UK Labour Party floats idea of house price target for BoE
Report from opposition party suggests central bank could target 2% house price growth
Norwegian deputy issues warning on high private debt
Official advocates gradual reduction of household debt to income, as a sudden shock is a risk
RBA begins push for ISO 20022 payments migration
Central bank wants to make the switch before Swift ends support for some message types
Informal sector changes inflation dynamics – BIS paper
Informality dampens impact of some shocks but also impairs policy transmission, authors find
ESRB sets out first steps towards common macro-prudential stance
Problems exist with turning conceptual framework into operational tool, report concedes
Somali government appoints new central bank governor
Former adviser to the prime minister must continue rebuilding the central bank in the war-torn country
Fed considering imposing local liquidity requirements on foreign banks
The proposal will likely be one of the first of its kind in international regulation
Basel Committee seeks feedback on streamlined version of Basel III
Sprawling array of PDFs was getting difficult to handle, committee says; some elements have been trimmed and ambiguities removed
Bahraini women gain prominence in financial sector
Number of local women employed increases by 2.2% in 2018, central bank data shows
IMF cuts growth forecasts for most economies
Japan and China are the only two to receive a more optimistic outlook from the IMF; global economy at a “delicate moment”, says Gita Gopinath
FCA signs new agreement with Asic as Brexit looms
UK regulator ensures continuity for trade repositories and alternative investment funds
BoJ downgrades economic outlook as regional growth disappoints
Haruhiko Kuroda remains positive and says robust domestic demand could offset some of the weaknesses in exports
Risk management worsened in 2018 at large EU banks – ECB
Supervisory review of EU banks shows fall in quality of governance, but no rise in funding risks
US wage growth ‘possibly double’ what is reported – Dallas Fed
Researchers use dataset that includes those who move house to calculate wage growth
Irish central bank warns no-deal Brexit would harm growth
Central bank expects strong Irish growth if ‘disorderly Brexit’ is avoided, but inflation is still weak
Euro’s ‘heft’ has been underappreciated – BIS’s Borio
Several roles of the euro as an international currency are underappreciated, says Borio
Walking the talk – engaging with indigenous communities
Mike Hannah says engaging with disadvantaged communities is increasingly recognised as important for a central bank’s work
BoE evaluating ‘utility’ cash distribution model
Model has helped streamline operations in countries where cash usage is on the decline, including Finland and Sweden
Trump urges Fed to restart quantitative easing
It would turn the economy into a “rocket ship”, the president says
Kenya’s financial inclusion rate passes 80%
Mobile banking has helped inclusion rates increase by over 200% over the last 13 years, but the technology has also introduced new risks
The IFF China Report 2019: New globalisation – The path to the future
Multilateral rules and multilateral bodies will need to be upgraded in the coming years to better represent the shift in economic gravity towards Asia, which has emerged as the largest contributor to global growth during the past decade.