International Monetary Fund (IMF)
Financial stability risks on the rise, IMF warns
Global financial stability report warns risks have increased and ‘rotated’ in the past six months, with emerging markets now more vulnerable
Morocco takes ‘first step’ to flexible exchange rate
Moroccan central bank takes ‘first step in the transition to a more flexible exchange rate regime’ by revising its currency basket, as advised by the IMF
IMF sees strong dollar shaping global recovery
IMF chief economist sees benefits in exchange rate movements at launch of World Economic Outlook, but warns sharp alterations could ignite international tensions if they persist
IMF urges BCEAO to ‘closely follow’ macro-prudential risks
The Central Bank of West African States has increased the provision of liquidity to commercial banks, which in turn are buying more government debt, increasing risks to financial stability
IMF paper proposes refinements to potential output estimation
Researchers use an adapted ‘multivariate filter’ that aims to improve upon other methods of estimating potential output, although they admit the result is probably only the ‘least worst’ option
Lagarde warns mediocre growth could become ‘new reality’
The "global recovery continues, but it is moderate and uneven", argues the IMF managing director, warning mediocre growth has the potential to become the "new reality"
US has chance to maintain leadership despite China’s AIIB
London School of Economics’ Danny Quah tells Central Banking the US must not cling dogmatically to its view of the world if it is to remain influential – and sharing power need not be all bad
Balkanisation of bank lending has made recipient countries safer, says IMF
Analytical chapter from upcoming financial stability report highlights benefits of reduction in certain cross-border credit flows
IMF calls for demand boost to avoid 'new reality' of lower potential
IMF World Economic Outlook contains echoes of Larry Summers' view that the world's economies need shock therapy to avoid secular stagnation
Global FX reserves down, dollar allocations up
Valuation effects push US dollar portion of allocated reserves higher while euro slips
Jacques de Larosière on the international monetary system and the eurozone
Central Banking’s Chris Jeffery speaks to former IMF chief Jacques de Larosière about efforts to restore the global financial system and challenges for the eurozone at the Central Banking Awards 2015
IMF report urges review of euro timeline in Romania
Staff fear convergence could take longer than expected; encourage the transition to a ‘full-fledged’ inflation targeting regime at the central bank
IMF tells SNB to consider asset purchases
In the face of slowing growth and deepening deflation the Swiss National Bank should ease monetary policy, which could be done via purchases of foreign currency assets, IMF says
Central banks told to handle financial inclusion with care
Greater inclusion benefits the poor but could damage monetary policy or financial stability if it is not kept under control, BIS research and IMF officials warn
RBA research suggests options for IMF to overcome governance issues
Analysis of constraints on IMF actions suggests seeking backup from other international organisations could add to political clout, but quota reform remains a problem
IMF paper warns against ‘overburdening’ LatAm central banks
Working paper studies evolution of central banks in Latin America, and warns against jeopardising the credibility they currently enjoy by handing them new mandates
Paper examines role of capital in BHC lending decisions
Authors find an increase in capital requirements of bank holding companies is ‘likely’ to increase the interest rate charged on loans, resulting in a ‘significant’ reduction in lending
Iceland expects ‘significant’ progress in lifting capital controls this year
Healthy economy and sturdy banking system pave way for lifting of capital controls, but risks are 'tilted to the downside', IMF report says; central bank at a ‘difficult juncture’
IMF staff want ‘clear mandate’ for next Bulgarian governor
Statement at close of latest Article IV with Bulgaria outlines policies for restoring supervisory credibility in the wake of the failure of the country’s fourth-largest bank
IMF paper sees lower inflation boosting Indian savings
Working paper says a ‘sustained reduction in inflation’ would help create interest rate environment necessary to boost corporate profitability and encourage household savings
IMF sees deflation threat to Western Balkan recovery
Special report on economic transition in Western Balkans identifies deflation spilling over from eurozone as risk to recovery in the region; most of the countries experiencing negative inflation
Research considers effects of delaying fiscal consolidation on GDP
Working paper published by the IMF finds there are no ‘substantive gains’ to be had in GDP from delaying consolidation if multipliers are constant
Central Bank of Honduras revises inflation target to 5.5%
After signing an economic agreement with the IMF last year, and in consideration of lower oil prices, the Central Bank of Honduras has adjusted its inflation target for 2015 by 50 basis points
IMF researchers add eurozone detail to fund’s global projection model
Working paper adds ‘blocks’ for Germany, France, Italy and Spain to the model in an effort to capture the dynamics in the eurozone in greater detail