Central Banks
Canadian economy may have more slack than headline figures suggest, says senior deputy
Bank of Canada's Carolyn Wilkins says measures of labour market slack show ‘greater unused capacity' than broader indicators
Venezuela fleshes out details of new floating exchange rate
Venezuela’s central bank will introduce a new free-float exchange rate, allowing people and companies to freely buy and sell dollars; economists say it will lead to depreciation
People: Sejko confirmed as Albania governor; Vietnam names deputy
Gent Sejko confirmed in post after being nominated in December; Nguyen Kim Anh becomes sixth deputy governor at State Bank of Vietnam; and more
Kyrgyz central bank throws open library to public
Demand for rare books from scholars and students leads National Bank of the Kyrgyz Republic to open its library to the public
Cyprus central bank governor sees confidence returning
Chrystalla Georghadji says historically large investments in the Cypriot banking sector are a reflection of the international community’s growing confidence in the country
Central Bank of Argentina promises to allow importers access to dollars
After three days of refusing all requests for dollars from domestic companies looking to finance imports, the Central Bank of Argentina promises to start gradually opening the tap
Esther George questions macro-prudential approach
Kansas City Fed president says macro-prudential approach ‘expects too much of tools for which our understanding is imperfect' in Philippines speech
G-20 leaders plan to scrutinise reform efforts
Leaders reaffirm commitment to reforms designed to raise global growth two percentage points and agree ‘robust monitoring framework’; OECD says reform progress has been patchy
BoJ nominee Harada: monetary stimulus, fiscal discipline
A review of Yutaka Harada’s published papers and articles reveals the Bank of Japan Policy Board nominee is likely to favour more stimulus from the central bank and less from the government
Irish central bank targets consumer-first culture
New report from the central bank reveals focus on culture within the financial industry; head of consumer protection tells Central Banking about the institution’s plans
National Bank of Angola to ‘coerce’ banks into parting with their dollars
Angola’s central bank will intervene when banks deny dollars to their customers, in the face of a shortage of foreign currency due to plunging oil prices
Ageing population may boost inflation, BIS paper finds
Working paper challenges received wisdom that an ageing population causes disinflation, with implications for the correct calibration of monetary policy
Stevens sees greater cross-border investment between Australia and China
RBA governor inaugurates Australia's first renminbi clearing bank in Sydney, saying it will raise awareness among Australian firms
BIS sees cross-border liquidity reverting to historical trend
Latest global liquidity indicators show low volatility combining with rapid cross-border credit growth; researchers challenge simple supply and demand theory of oil-price slump
FOMC forward guidance adds to 'market confusion', say leading US economists
The Fed lacks 'clearly formulated' normalisation strategy, paper to be published by Central Banking argues; calls for adherence to 'disciplined inflation targeting rule'
Sama governor calls for subsidy cuts
Fahad Al-Mubarak says the Saudi Arabian economy is being hampered by various inefficiencies, including excessive subsidies on energy and water
Dallas Fed report calls for better understanding of global finance
Globalisation annual report urges monetary policy-makers to take account of global financial flows and seeks a better understanding of interdependence
Greenspan: Eurozone could collapse without political union
Former Fed chair Alan Greenspan says it is ‘very difficult’ to imagine the eurozone remaining intact without political union, while it is ‘just a matter of time’ before Greece departs
Visco highlights ‘inadequate’ stock of human capital in Italy
Bank of Italy governor calls for better education and training to help develop the ‘right skills and capabilities’ necessary for the country to achieve higher growth
Danish central bank prepared to cut rates further in defence of peg
‘We haven’t yet found any absolute lower bound' for the deposit rate, Danish governor tells Central Banking, but acknowledges potential for strain on payments system
Belarus eyes policy overhaul
National Bank of the Republic of Belarus says it will exercise ‘tight control’ over the money supply in an effort to shackle inflation; questions over where this leaves exchange rate peg
Boston Fed’s Rosengren flags key elements of successful QE
Eric Rosengren sets out the most successful design features from the Fed’s experience of quantitative easing and hints ‘other parts of the globe’ may have acted too late
Good data vital for effective financial inclusion policies
With the World Bank soon to release the first update to its global financial inclusion database, Central Banking speaks to the Alliance for Financial Inclusion on the importance of good data