Central Banks
Reserve Bank of Australia governor backs 2–3% target in final address
Reserve Bank of Australia governor supports inflation-targeting regime in last public address; moving the target could open the door to further changes down the line, warns Stevens
Swift CEO gives network top marks despite Bangladesh Bank theft
‘No room’ for complacency says Leibbrandt, noting it is now up to the banks to upscale their security infrastructure
Bank of Thailand's Veerathai on the Thai economy, governance and payment reform
Bank of Thailand's governor speaks to Christopher Jeffery about the resilience of the Thai economy, governance and payments infrastructure reforms, plus why he does not agree with the IMF
US unconventional monetary policy most effective in financial crisis, paper argues
Conventional and unconventional monetary policies in the United States work through distinct channels, with different levels of effectiveness in crisis conditions, researchers argue
UK watchdog looks to new technology to ‘transform’ bank competition
Use of “open APIs” can enable easy data-sharing, which regulator hopes will give consumers clarity on bank charges and boost competition – though some see flaws in the plan
Argentinian central bank removes $5m dollar conversion cap
New measures aim to make it easier for businesses to acquire dollars; bank removes cap on dollar conversion and reduces paperwork involved
Monetary expansion: Is the sky the limit?
Unconventional monetary policies in advanced countries have resulted in benefits and costs for the global economy and financial markets. Manuel Sánchez assesses if the benefits are worth the risks.
Money market interactions can explain behaviour of interest rate spreads, researchers argue
Paper analyses the interplay of unsecured and collateralised money markets; information obtained “can explain behaviour of interest rate spreads”, authors say
Malawian central bank sees legal risk to payments reform
Malawi payment infrastructure making ‘significant strides’, annual report says, but lack of legislation poses a risk
Rajan hopes new MPC will make next RBI policy statement
Reserve Bank of India keeps rates on hold in Rajan’s last decision before stepping down; he hopes the monetary policy committee will be up and running by next decision in October
Payments revamp should cut costs in Thailand, governor says
In an interview with Central Banking journal, Veerathai Santiprabhob lifts the lid on payment system reforms aimed at strengthening infrastructure and promoting debit card usage
Co-operation: The competitive edge against counterfeiting
A collaborative approach to banknote projects with trustworthy partners frees up time and resources, pools and mitigates risk, and helps to fulfil the most demanding expectations from stakeholders and the public. Most importantly, it decisively stiffens…
IMF paper explores link between imports and pro-cyclicality of productivity
Research finds firm-level import decisions explain “non-trivial” fraction of fluctuations in aggregate productivity in South Korean manufacturing sector between 2006 and 2012
BoJ board split ahead of ‘comprehensive assessment’
Opinions from last meeting show members divided on how to hit 2% by fiscal 2017, and if it is even possible; “comprehensive assessment” may include measures to support squeezed banks
Nigeria tightens regulations on money transfer operators
Central bank's move will leave only three companies to deal with a remittance market worth more than $20bn annually, an analyst says
BoJ research uses ‘global game’ to explain zero inflation
Model of monopolistic competition implies co-ordination between firms may lead to zero inflation
ESRB recommends EU states reciprocate Estonian capital buffer
European Systemic Risk Board’s recommendation is only second time it has suggested regulators should reciprocally adopt a new macro-prudential measure
Sarb mulling changes to cash distribution process
South African Reserve Bank review finds ‘inefficiencies’ in current framework; changes could include alterations to the bank’s ‘branch footprint’ and supply chain
Bank of Mauritius governor examines human capital problem
Human resource managers face ‘daunting challenge’, says Basant Roi while emphasising people need to have ‘extraordinary qualities’
Central banks must better manage tensions over their autonomy
Kingsley Moghalu says emerging market central banks need to strike a difficult balance between autonomy and legitimacy – but the government must play a role as well