International Monetary Fund (IMF)
IMF paper: Indian monetary policy transmission is improving
Working paper examines credit channel of monetary policy in India, finding ‘significant, albeit slow’ transmission to the real economy and a gradual improvement over the past few years
IMF paper finds foreign investor base crucial for EM sensitivity to shocks
Working paper finds emerging markets that rely more on international funds and global banks are more sensitive to ‘global push factors’ such as US monetary policy
IMF paper says ‘one size does not fit all’ with macro-prudential frameworks
Working paper examines use of macro-prudential policy in Hong Kong, the Netherlands, New Zealand, Singapore and Sweden
Eurogroup president looking for Greece deal ‘in next couple of days’
Jeroen Dijsselbloem says new Greek proposals are a ‘positive step in the process’ of the bailout review in a short press conference; government heads next to meet in Brussels
IMF's Viñals says central banks must be 'market-makers of last resort'
Monetary policy and regulation have amplified illiquidity, says IMF's Viñals
China to work with IMF on SDR evaluation, top official says
Comments by top foreign exchange regulator follow reports that IMF sent team to China for ‘technical discussions' last week
IMF's Blanchard urges compromise in Greek negotiations
Both sides need to make tough choices but more funding and some form of debt relief necessary, says IMF chief economist; Mario Draghi emphasises need for long-term EU institutional change
US ‘unwilling to compromise' on derivatives rules, China vice-minister of finance says
Differences in accounting practices remains an urgent issue, Zhu Guangyao argues in a new China report; contributors critical of dollar's ‘exorbitant privilege' as sole reserve currency
China grapples with balance of financial reform and risk
The Chinese government is keen to encourage financial markets to catch up with manufacturing’s sophistication. But balancing liberalisation with stability and growth is proving complex
Chinese policy-makers offer olive branch on regional development
Jin Liqun and Zhu Guangyao say they will work with Bretton Woods institutions as the new infrastructure and development banks look to generate infrastructure investment in region
The rising international role of the renminbi
The global reach of Chinese investment and the renminbi have expanded rapidly over the past few years. The currency’s journey is seen by some as a reflection of China’s global ambition and expansion
Zhu Guangyao on global financial governance, divergent monetary policy and IMF reform
China's vice-minister of finance Zhu Guangyao speaks about the state of the global economy, deflation, and China's role in finance reform and the international monetary system
China's ‘One belt, one road’ vision to strengthen co-operation
The ‘One belt, one road' vision reflects both the demand from countries to release infrastructure bottlenecks and improve connectivity, as well as a need for China's own development and security
South-South development co-operation in transformation
China's approach in South-South development co-operation focuses on using ‘what China owns and knows best' by combining trade, investment and development co-operation
Noyer: IMF’s decision on SDR not politically motivated
Banque de France governor Christian Noyer acknowledges ‘symbolism’ of the IMF’s currency basket, but stressed the composition is based on technical work and not politics
IMF deputy warns ‘leakages’ could undermine macro-prudential policy
Mitsuhiro Furusawa says macro-prudential tools could force financial activities into a less regulated sector or country, but adds little is known about benefits of ‘leaning against the wind’
Economists expect last-minute Greek deal
With Greek finances still looking close to collapse, Central Banking asks a group of economists what the consequences of a last-minute agreement or default might be
IMF paper urges central banks to adopt sharia-compliant facilities
Authors warn lack of sharia-compliant monetary policy tools is hampering efficient liquidity management among Islamic banks, but is an area that requires further research
IMF tells Fed to wait until 2016 to hike rates
Fund says keeping rates lower for longer would provide ‘valuable insurance’ against disinflation; encourages Fed to hold more press conferences and publish quarterly monetary policy report
IMF's Patrick Njoroge nominated as Kenyan governor
President picks IMF adviser Njoroge from a shortlist of five candidates, which included current and former deputy governors; name passed to parliament for vetting
IMF researchers highlight high cost of unnecessary fiscal consolidation
For countries with very low borrowing costs, allowing debt ratios to fall ‘organically’ via growth is likely to be less damaging to the economy than harsh austerity, authors say
IMF paper argues technological slowdown not main driver of weak productivity
Working paper finds slower US productivity growth is more due to reduced efficiency in combining factors of production than a declining pace of technological progress
IMF sees limits to Norway ‘leaning against the wind’
Article IV conclusion says macro-prudential policy should be first line of defence, but governor Øystein Olsen still sees role for monetary policy
Dutch committee recommends 90% LTV limit on mortgages
Netherlands financial stability committee advises government to gradually reduce loan-to-value limit to 90%, despite IMF recommending cut to 80%