International Monetary Fund (IMF)
Global influence on local financial conditions is stable, research finds
Share of financial fluctuations caused by global factors has not markedly risen in last two decades
Income convergence in reverse among original euro members, research says
Fall in income disparities halted soon after 2002 and started to increase after financial crisis
IMF welcomes reform progress in Egypt
A flexible exchange rate and tighter policy have helped stabilise the economy
Central banks should not be underestimated – DTCC chief
Michael Bodson says central banks will always find a way to deal with crises, even without interest rates at their disposal; Hélène Rey says interconnectedness of system is a risk
Economics in central banking: Alberto Cavallo and Roberto Rigobon – Billion Prices Project/PriceStats
Through a vast and ongoing data-collecting exercise, PriceStats has helped central banks overcome many of the drawbacks inherent in traditional inflation series
Davos experts weigh risks of future crisis
High debt levels, a rise in real interest rates and China are on the agenda for the panellists, who believe another financial crisis is inevitable
IMF chief economist warns against ‘complacency’
Recent economic upturn should not be viewed as “new normal”, Obstfeld says, arguing policymakers should be looking to shore up defences
People: PBoC deputy appointed vice-mayor of Beijing
First woman nominated as deputy governor at the Bank of Mexico; Kganyago bags IMF job; Sarb gets new MPC member
Innovation in reserve management: HSBC
The global bank stepped in during Egypt’s economic crisis, arranging a private funding package that proved instrumental in turning around the country’s fortunes
Financial regulations have been procyclical historically – research
Regulations tend to weaken during economic booms and strengthen with crisis
Bundesbank panellists call for change in German ‘mindset’
Mario Monti says he would like to free Germans from their economic “straightjacket”, while Benoît Cœuré hints at need for rebalancing
Central banks lack ‘firepower’ to combat financial crises, says report
Without interest rate cuts available, the next financial crisis could be much “longer and deeper”, Global Risk Report says
IMF’s Obstfeld: effects of accommodative policy remain unclear
The IMF chief economist weighs up the productivity puzzle and whether monetary policy helped or hindered growth following the financial crisis
Tanzania revokes licence of five banks
Rising NPLs and insufficient capital ratios in small banks source of concern, IMF says
Balancing reserves’ effectiveness and transparency
Why do countries accumulate more and more reserves if they know intervention may prove ineffective? Iris Yeung speaks to Canada’s Eric Wolfe
2017: The year in review
Over the past year, the global economy regained some strength, and some central banks began to return their policy to normal; but it was not all smooth sailing
Ukrainian central bank warns over ‘lengthy delay’ to IMF aid
National Bank of Ukraine calls for urgent action on state-owned banks; governor’s post remains unfilled
Lagarde warns of recessions in African economies
Some countries’ GDP due to shrink despite headline growth, IMF chief warns
Iran needs financial sector reform – IMF staff
Central bank should have greater independence and supervisory powers, urge IMF staff
Credit no longer supporting Chinese growth – research
China’s economy has become “saturated with credit”, argues IMF research paper, with fiscal stimulus primarily boosting manufacturing
IMF suggests changes to Mauritian monetary policy framework
Lack of clarity in current framework risks “undermining” the credibility of monetary policy, report says; medium-term inflation target of 3% should be implemented
IMF warns Chinese banks are undercapitalised
The IMF report highlights the insufficient capital of Chinese banks, conflicting tensions of growth and stability, and the financial system’s complexity
People: Fiji appoints deputy; Commission proposes new SRB chair term
Esala Masitabua will become deputy governor in Fiji on January 1, 2018; European Commission proposes extending Elke König’s mandate as chair of the SRB; and more
Small open economies benefit from QE spillovers – IMF paper
Fed’s QE had a similar net positive effect in Canada to that in the US