Central Banks
NY Fed paper: ‘replacement hiring’ affects productivity wage gap
Replacement hiring can explain much of the gap between wages and productivity, authors say
Russia changes security operation, makes senior appointments
Bank of Russia deputy governor appointed and monetary policy head retires
PBoC seeks to reassure bond investors amid default concerns
Pan Gongsheng says the central bank has not seen any “special abnormalities”
Riksbank leaves rates unchanged at -0.5%
Growing dissent as two of six board members advocate tighter policy
No failure of governance in English-speaking Caribbean, says Wynter
Jamaica’s governor says dismissal of Barbados and T&T peers reflects government agendas; “has been a scandal” in Curaçao and Sint Maarten
Book notes: China’s Great Wall of Debt, by Dinny McMahon
McMahon is too pessimistic about the chances of China managing to get its great wall of debt under control, writes Michael Taylor, but he is undoubtedly right about the scale of the challenge
UAE plugs in to IMF’s enhanced data standards
IMF’s chief statistician hails the move as an “important step forward”
Russian central bank starts using biometric database of bank customers
Citizens can submit face and voice data to banks to be authorised for remote transactions
RBNZ plans update to monetary policy and prudential regulation
Changes are among several priorities outlined in 2018–21 statement of intent
Abandoning forward guidance has helped market communication – Poloz
Governor underscores the importance of language and says forward guidance can sometimes confuse markets
National Bank of Angola settles $426 million debt with Namibian counterpart
Failed currency agreement resulted in huge accumulation of debt as a fall in oil prices stifled Angola’s access to US dollars
Sri Lanka governor hits back at critics amid GDP muddle
Governor dismisses accusations that deputy made mistakes in compiling GDP figures
Low rates contribute to higher deposits in Denmark
Bank deposits amount to 60% and household deposits 45% of GDP
New Jamaican law could end Caribbean’s ‘colonial era’
Granting the Bank of Jamaica operational independence to pursue an inflation target could transform central banking in the Caribbean
Bank of Jamaica’s Wynter on the path to inflation targeting
Bank of Jamaica’s governor talks about revamping accountability, communications and operations as the central bank embraces inflation targeting
People: new RBI deputy; Ingves to chair Toronto Centre
ECB appoints director general of micro-prudential supervision; HKMA has new executive director of financial infrastructure; Liberia appoints new board
Central banks do not have tools to change productivity growth – Haldane
BoE chief economist says governments are responsible for productivity, challenging proposals in recent report
Latvian prosecutor charges central bank governor with corruption
Bank making accusations was closed by regulators in 2016