Central Banks
RBNZ paper investigates weaker pass-through since 2008
Banks’ use of more stable funding sources seems to have weakened the effect of policy rate changes since 2008
ECB criticises Irish draft law on mortgage arrears
Draft law could encourage moral hazard and harm legal certainty, says ECB
Mobile money taking off in Rwanda – report
Central bank documents an increase in both users and volume of transactions across mobile financial services
Latvian governor unable to attend ECB meeting due to corruption inquiry
Parliament will debate governor’s continuation in role this week
Lithuania to launch ‘digital’ commemorative coin
Central bank will host a “hackathon” to decide on technology to underpin the digital asset
IMF recommends Colombia improve policy communication
Fund considers the central bank has further room to lower interest rates
Deregulatory bill gathers bipartisan support in US Senate
The amendment lifts the asset threshold beyond which banks are submitted to stricter oversight
Bank of Canada on hold as council remains cautious
Officials see the need for further rate hikes in future, but say trade policy in the US is creating uncertainty for Canada
Haldane embraces idea of ‘citizen councils’ to support BoE’s work
Chief economist hopes the initiative will facilitate a “two-way dialogue” between the central bank and the general population
Standard setters welcome effort to halt correspondent banking decline
Efforts to standardise data gathering aim to cut cost of correspondent banking, as latest FSB figures show further decline
Intellectual property investment fuelling growth in Australia – Lowe
RBA governor says lack of growth in “tangible assets” is turning investment towards the information technology market
ECB largely supports Commission’s proposals for ESRB
ECB president would become ex officio head of systemic risk body
Yield curve inversion still tends to signal trouble ahead – Fed economists
The term spread has a “strikingly accurate record” for forecasting recessions, and this time looks to be no different, say researchers
Divestments based on ethical grounds reduce returns of Norway’s fund
The exclusions trimmed cumulative returns on the equity index by 3.3% since 2004
Malaysia central bank dismisses concerns over government cash handout
BNM says cash handout idea was “first mooted” by its board, dismissing the suggestion it was designed to “tempt” the Malaysian people
Tunisia raises rates by 75bp to tackle inflation
First hike under new governor comes as prices rose year-on-year by 7.1% in February
ANC shelves Sarb nationalisation plan
South African Reserve Bank safe from ownership restructuring for now, as ruling party takes time to consult with other members of the ANC and “key stakeholders”
Quarles reveals plan to simplify Volcker rule
The Volcker rule is too complex and “is not working well”, says Fed vice-chair; regulators preparing a package of “material changes”