Central Banks
Menon to step down as MAS head
Chia Der Jiun will become Singapore’s central bank boss in January
Kazakhstan central bank governor replaced with presidential staffer
Move comes amid flurry of new appointments made this year
IMF paper offers ‘complete set of tools’ to model reserves demand
Authors say theirs is the first complete modelling framework for reserves demand
Deep learning models are ‘fragile’, BoE paper finds
Models suffering from “Rashomon effect” need better supervision, authors say
People: Paraguay confirms governor appointment
Nicaragua gives governor five more years; Malaysia appoints deputy; and more
Jackson Hole in the wake of policy rules
Symposium heralds a shift to relying on incoming data and judgement, rather than rules or even formal models, to hit inflation targets, writes Barry Eichengreen
China to ease mortgage rules and cut banks’ FX reserve ratio
Moves come on top of authorities’ recent support measures for property sector and stock market
Surprising the market can reverse standard effects of policy, paper finds
Part of the impact of Fed decisions comes from revealing economic thinking, authors say
Eurozone soft landing depends on Phillips curve – Schnabel
Executive board member says evidence is hard to read, calling for “robust” policy-making
Policy transmission weak in Caucasus and central Asia – IMF
Recommendations include improved communications, and intraday and overdraft credit facilities
A ‘unified ledger’ and the future of money
Blueprint set out by the BIS staff raises plenty of questions about the 'singleness of money'
Supply shocks drive greater dissent on FOMC – BIS paper
Tougher trade-offs appear to reveal differences in policy-maker preferences, authors say
SDR allocation boosted global economy – IMF report
Review finds allocation met its main objectives, but some countries are failing to deliver on pledges
PBoC pledges more financial support for private firms
Governor Pan Gongsheng says authorities need to unblock funding channels for private firms
Banknotes: July to September 2023
A round-up of news and salient issues that have affected central bankers in the past three months
People: July to September 2023
A round-up of central bankers in the news and on the move during the past three months
House prices suffer steepest fall since global financial crisis
BIS data shows sharp falls in many advanced economies, though prices are still up on 2010
Fed proposes long-term debt requirement for large banks
Governors Waller and Bowman express concern the rule doesn’t appropriately tailor regulation
Financial Stability Benchmarks 2023 report – how central banks confront risk
Central banks discuss resources, regulating banks and non-banks, macro-pru, crime and future risk
ECB paper explores best response to inefficient capital flows
Exchange rate pass-through is key to whether policy should tighten or loosen, authors find
Macro-pru tools can cut risk of credit bust – IMF paper
Authors explore whether building buffers can increase resilience over the medium term
Jordan revamps forecast model with richer interactions
Jam2.0 adds a fiscal block and captures more complexities of central bank policy
Climate change poses ‘acute uncertainty’ for economy – RBA’s Bullock
Incoming governor says climate change may lead to structural changes and affect neutral rate