Central Banks
Riksbank unveils new series of notes and coins
Majority of Sweden’s banknotes and coins to be updated by the end of 2016; new 20 krona note to be introduced and two krona coin to re-enter circulation
Poll: Should inflation targets be scrapped?
As advanced economies battle low inflation and interest rates remain constrained by the ZLB, should central banks rethink monetary policy orthodoxy?
Latest round of Greek bailout talks collapses
Discussions over extending Greece’s bailout collapsed late last night after the country's finance chief Yanis Varoufakis rejected a plan by the Eurogroup to continue with the current programme
Minneapolis Fed research criticises China's 'quid pro quo' policy
Staff report finds ‘significant impact’ on innovation and welfare from China’s continued policy of exchanging market access for technology – good for China, but not for advanced economies
Bahrain governor launches campaign for women bankers
Rasheed Al Maraj gives his backing to an initiative designed to promote gender equality in Bahrain’s financial sector; country has a patchy record when it comes to women’s rights
Banque de France paper tackles ‘elasticity of poverty’
Researchers examine the extent to which growth in different sectors translates into a reduction in poverty for countries in Africa; commodity-driven economies particularly bad for the poor
Macro-prudential policies can ‘tame’ the financial sector, says ECB's Constâncio
Monetary policy should be used to control the price of goods and services not asset prices; macro-prudential policies can address financial imbalances in spite of dearth of shadow banking tools
Australia opts for ‘tactile’ notes to assist the visually impaired
Australia follows Canada in offering tactile features on polymer banknotes despite apparent rejection of the idea by the Bank of England
MAS takes first steps towards crowdfunding regulations
Proposed regulations aim to strike a balance between encouraging a valuable source of finance for small businesses and managing the high risks associated with securities-based crowdfunding
IMF too sluggish to be global lender of last resort, say Allen and Moessner
The IMF’s response to the financial crisis was too weak and too late, leaving the Federal Reserve to pick up the slack, William Allen and Richhild Moessner argue in the Central Banking Journal
A more effective strategy for the Fed
The Fed should adopt a Taylor-rule approach to ensure policy adjustments are only made due to changing macroeconomic fundamentals. This would mean it should raise rates and alter its communications
The RMB and the SDR review 2015
Yide Qiao and Jiafei Ge present a case for the renminbi joining the ranks of the US dollar, euro, sterling and yen in the IMF’s SDR basket, when the constituents are reviewed later this year
Central banks are on the losing side of government pacts
Quantitative easing by the ECB and the Bank of Japan brought market cheer. But, absent meaningful structural reform, is miring central banks deeper into an ever-more dangerous policy cycle.
Justin Lin on China, economic growth and the international monetary system
Former World Bank chief economist on why a multiple currency system could increase monetary instability, China should be wary of full capital reform and infrastructure investment will boost growth
Reviving the faltering euro economy
There are three options to address Europe’s core problem: real differences in production costs. None of them involve asset purchases by the European Central Bank, writes Allan Meltzer
Evaluating the IMF’s performance in the financial crisis
The results of the IMF’s Independent Evaluation Office investigation into the Fund’s handling of the global financial crisis are deeply flawed.
Ukraine unveils nine-member MPC
Central bank reveals composition and meeting schedule of new monetary policy committee, a body created to help ‘streamline’ the decision-making process
Will new reforms lift the veil of secrecy at the Bank of England?
The Bank of England has unveiled a broad package of reforms to its transparency. Daniel Hinge speaks with transparency experts to assess the changes
Three strikes against the Federal Reserve
If you want to know why US economic recovery has been so sluggish, look no further than the policies of the Federal Reserve, argues Allan Meltzer
Are central banks the ‘Figaro’ of the financial markets?
Central banks continue to play a vital position in the functioning of markets. While this raises significant concerns about moral hazard it is not an unfamiliar role from an historical perspective
Book notes: Don’t start from here, by David Shirreff
A pointed, passionate plea for a simpler banking system that deserves to be taken seriously
Book notes: Emerging Africa, by Kingsley Moghalu
Sub-Saharan Africa is no basket case, but neither is it poised to follow China and India on their meteoric economic rise, Kingsley Moghalu argues in his forthright book