European Central Bank (ECB)
Bank of Italy's Visco calls for full-fledged political union
Beyond banking union, the scope of a common eurozone budget - as well as the timeframe for its implementation - must be defined, says governor of Europe's fourth-largest economy
G-20 leaders vow co-operation to avoid monetary policy spillover
St Petersburg summit sees IMF concede advanced economies are now the major engines of global growth; European banking union is a top priority in the G-20's joint ‘action plan'
ECB holds rates as Draghi is ‘caught between doves and hawks'
ECB sticks to forward guidance as eurozone recovery deemed too 'green' to warrant a tightening of policy; announcement is imminent on the single supervisory mechanism
Financial crisis caused significant shift in the euro area Beveridge curve
ECB paper finds that labour market consequences of the crisis have been heterogeneous across countries, with Spain and Germany diverging the most
ECB's Cœuré defends OMTs in Berlin speech
Executive board member tells German audience that OMTs do not remove the incentive from governments to reform, and says risk transfer within the monetary union is unavoidable anyway
German voters want to keep the euro - but not to save it, poll finds
Two-thirds do not believe the next chancellor has mandate to support eurozone countries financially after the September 22 elections; a third supports break up of eurozone and return to deutschmark
ECB's Mersch calls for clearer separation of powers in bank resolution framework
European Central Bank executive board member believes current agreement in Europe on a resolution framework - 'decentralisation plus discretion' - is 'the wrong combination'
ECB looks to double the number of women in senior positions through quota
The bank is launching a ‘gender diversity action plan' to ensure 35% of mid-level management positions and 28% of senior positions are held by women by the end of the decade
Forward guidance successful in mitigating downside risks to price stability
Provision of time-based forward guidance reduces downside price stability risks but may result in upside risks during the medium term, finds ECB working paper
ECB research highlights Greenspan’s powers of persuasion
Researchers say Alan Greenspan was a ‘dominant’ chairman of the FOMC who frequently managed to convince regional Fed presidents to walk his own policy line
ECB paper finds capital controls can increase stock price volatility
Research paper finds that a tax on capital inflows can stabilise currency markets, but amplify shocks in single-country stock markets
Sector-specific variables more relevant than thought in determining default risk
The effect and magnitude of risk drivers across sectors is highly heterogeneous, which should be taken into account when designing stress-testing analytical tools, research paper argues
Fall in equities most significant global impact of euro crisis, says ECB paper
Working paper measures impact of euro debt crisis on global financial markets; says the transmission ‘hinges more on trade than on finance’
Opinion: The ECB should not hold back from eurozone bond purchases
There is no danger in the ECB buying large amounts of eurozone government bonds to bolster market confidence – so long as the right conditions are met – says Natixis chief economist Patrick Artus
Getting to grips with monetary policy?
Global co-operation on monetary policy remains out of reach
Europe could learn from Germany’s macro-prudential approach
Germany’s approach to macro-prudential oversight could offer insights into how to democratise ‘hard’ policy tools and enshrine independence at a time when more power is being transferred to the ECB
ECB conflicted by Cyprus bail-in
The ECB’s failure to secure a bail-out for the Cypriot banking system changes the template for sovereign rescue in the eurozone. It also has implications for a central bank that appears conflicted
BIS calls for monetary tightening not heeded by major central banks
The BIS's latest annual report voices the private concerns of the world’s leading central bankers. But it falls short on action that will hold national governments to task
ECB paper backs broader financing alternatives
Occasional paper says the ECB’s monetary polices has had an ‘uneven effect’ on eurozone businesses; calls for more diverse capital structures
German experience offers macro-prudential lessons for Europe, says Buba's Dombret
Germany's approach to macro-prudential oversight could offer insights into how to democratise ‘hard' policy tools and define the role of national central banks, says the Bundesbank's Andreas Dombret
Financial fragmentation persistent in face of loose monetary policy stance
ECB article provides evidence of heterogeneous interest rate pass-through in the four largest eurozone economies, based on new models
Peter Praet delves deeper into ECB forward guidance
The ECB executive board member explains why the central bank issued forward guidance and how it will work; emphasises the importance of money dynamics in determining future policy
Adopting electronic retail payments boosts real economy, says ECB paper
Working paper says efficient electronic retail payment infrastructure boosts GDP, trade and consumption; integrating and harmonising different markets amplifies these effects
Bullard says Fed should ape ECB press conference schedule
James Bullard of the St Louis Fed wants to see the Fed chair give a press conference after every meeting of the FOMC - not after alternate meetings, as is the case currently