Central Banks
The Brexit conundrum
The Bank of England has only limited room to respond to a hard Brexit
EU to cut price of cross-border euro payments
Amended law will also give customers information on currency conversion charges
Egypt sharply cuts rates on lower inflation
Central bank reduces key overnight deposit rate by 100 basis points to 15.75%
Volcker rule helped curb equity market risk – researchers
Banks had large trading exposures to equity market risk before the rule was introduced, they find
The answers to the 2018 Central Banking Christmas quiz
We reveal the answers to the Christmas quiz, and the winner
People: Stanley Fischer joins BlackRock in advisory role
Veteran central banker moves back to private sector; Jamaica begins search for new governor; El Salvador governor assumes presidency of regional council
Weak EU banks more likely to prop up ‘zombie firms’, ECB paper says
EU needs insolvency reform to reduce proportion of uncompetitive firms, researchers argue
IMF prepares to overhaul its financial surveillance
Fund agrees with IEO report that there is much room for improvement, but budget remains an issue
PBoC issues 20 billion yuan of central bank bills in Hong Kong
Bills could help improve the yuan-denominated bond yield curve amid a lack of liquidity in the Dim Sum bonds market
MAS establishes long-term corporate governance committee
New body will replace short-term councils formed every few years
RBNZ adopts new dual policy target
New Zealand’s central bank will now have maximum employment target alongside inflation goal
ECB paper presents new financial crisis early warning system
Model aggregates five types of systemic risk indicator, researchers say
BoE’s Vlieghe says bleaker outlook calls for more cautious policy
Weaker growth and Brexit uncertainty imply one or two hikes a year may be too fast, he says
Globalisation is helping to flatten Phillips curve – Fed paper
Price sensitivity to output changes is significantly weaker in high trade-intensive industries
Renminbi reserves are still relatively small
Renminbi investments still account for a much smaller fraction of global forex reserves than China’s significance in the world economy would merit
Estonian board nominates deputy governor to lead central bank
Candidate must now undergo three months of background checks by security service
US sanctions on Venezuela could be death knell for petro
Crypto asset is backed by oil reserves the country can barely commercialise
UK cash system needs revamp, says Payment Systems Regulator chair
Charles Randell tells lawmakers the regulator will look at entire cash provision infrastructure in 2019