Central Banks
Trump attacks Yellen in campaign ad as US votes for president
Candidate has repeatedly attacked Fed chair for “political” actions
Dallas Fed research seeks to improve real-time inflation forecasts
Economists break surveys of inflation expectations down into parts, finding stripping out the noise component improves forecasting
RBNZ’s Spencer sees need for better approach to FMI oversight
The framework, if put into legislation, would give the central bank and markets authority new powers of information-gathering and oversight
People: Sarb reappoints deputy for second term; Central Bank of Kenya looking to replace board
South African Reserve Bank appoints Francois Groepe to serve another term; parliament has approved five new members to the Central Bank of Kenya board, but formal process not yet complete; and more
Harnessing growing data volumes: The St Louis Fed
Huge demand for macroeconomic data that is easily accessible, international and granular is driving the rise of this global data hub. Daniel Hinge meets the Fred team
SNB paper models ‘sticky consumption’ in Switzerland
Assuming consumption habits are slow to change helps produce more robust results than other methods, author finds
BoE sets final rules for bank loss-absorbency
Final rules for bail-inable debt adjusted for longer transition and lighter load on smaller banks
Is the Central Bank of Argentina back?
The Central Bank of Argentina’s new governor, Federico Sturzenegger, has made strong progress in tackling runaway inflation and reversing the country’s monetary decline. But many challenges remain
BoE paper takes DSGE approach to deflation probabilities
Comparing simulations using a DSGE model estimated on different market-based measures of deflation probability helps to pick out causality, researchers say
Constâncio rejects higher inflation targets and instrument rules
Higher targets would not re-anchor inflation expectations, ECB vice-president says
ECB says draft Croatian law could harm central bank independence
Proposals would give state auditor “undefined powers” over central bank, ECB says
Data as a critical factor for central banks
Central banks must industrialise data-handling processes to deliver better decision-making, says Maciej Piechocki of BearingPoint
BoE’s Andrew Hauser says RTGS needs to move with the times
Executive director speaks on the risks and benefits of upgrading the UK’s core payments infrastructure; central bank is working on new technologies, including distributed ledgers
Fischer examines growth dilemma
Fed vice-chairman says behaviour of inflation and output as economy normalises may provide some answers
Vickers renews criticism of BoE systemic buffer
Blanket 3% buffer would better support ring-fencing, Vickers tells Tyrie
Last stand for central bank independence?
Political attacks on Janet Yellen and Mark Carney appear to be just the start of a sustained assault on central bank independence. It’s a battle the central bankers may lose
Big data in central banking: 2016 survey
Results and analysis of a survey examining how central banks view big data and data governance in their institutions
Bank of Namibia revises growth forecasts
Latest economic outlook warns lower production from the mining sector will have an impact on GDP levels for this year, but growth is expected to pick up in 2017
Mozambique governor hikes rates by 600bp as inflation hits record high
IMF spokesman says talks continuing over audit of government finances as newly appointed governor makes fifth and biggest rate rise of 2016
Weighting models by performance is better than taking simple averages, researchers say
Weighting models by performance is better than taking simple averages, researchers say
Brexit unlikely to spell end of London as a financial centre – BoE’s Cunliffe
“Clustering effects” should ensure London remains a major financial centre, says BoE deputy, though fragmentation poses a risk to activity throughout the EU
Cœuré sets out sovereign debt reform ideas as Weidmann strengthens call to end QE
Two senior eurozone central bankers set out different visions for radical change to the handling of European sovereign debt
Barro and Summers wrestle with productivity puzzle
Veteran economists seek to offer explanations and policy prescriptions for strong employment and weak growth in the US and elsewhere
Tuvalu eliminates foreign exchange restrictions
Tuvalu government repeals Exchange Control Act to adhere to IMF articles of agreement; move will help foster investment and international trade, fund says