International Monetary Fund (IMF)
Mozambique cuts rates again as inflation undershoots target range
Inflation in Mozambique has fallen below the central bank's target range despite IMF predictions to the contrary; measures in place to improve monetary policy transmission
The Bretton Woods transcripts: debate about the World Bank and the BIS
Andrew Rosenberg highlights the secondary importance of negotiations to create the World Bank and cover ‘other discussions’ as well as Norway’s objections to having the BIS once the IMF was founded
IMF shuts up shop in Budapest as Hungary clears its debt
Central Bank of Hungary repays remainder of its €1.44 billion loan ahead of schedule; IMF’s Budapest office will close at the end of August as part of ‘a message to voters’
IMF reports show French and German banking sectors are key to European stability
IMF urges France to do away with tax disincentives to deposits in an effort to broaden banks' funding sources; emphasises Germany's role in forging a robust eurozone financial architecture
BoJ on target as IMF urges Abe to loose his other arrows
IMF says fiscal and structural reforms are necessary to create ‘durable’ increase in inflation; encourages Bank of Japan to begin internal discussions over its exit plan
IMF spillover report highlights tough balancing act for leading economies
Report examining international effects of policies in China, the eurozone, Japan, the UK and US, says easy monetary conditions essential but warns of future side-effects
Intertwined Caribbean need stronger cross-border regulation, argues IMF paper
While stressing that greater financial interconnectedness could have a beneficial impact, the paper warns of regulatory arbitrage and underestimation of systemic risks in the region
Cyprus gold still in play to help fund troika bailout
First review finds good progress made in repairing the Cypriot financial sector; central bank will take on a wider supervisory role but may have to sell gold to contribute to the country's bail-out
IMF endorses Fed monetary policy in Article IV report
Staff report highlights risks associated with exit, including negative impact on the Fed's balance sheet, which could cause a political 'backlash'
IMF looks to ECB for more monetary easing
IMF encourages the ECB to cut interest rates and launch a new round of long-term low-interest loans to buy more time for eurozone banks and legislators
IMF paper considers impact of quota change
Executive board has expressed ‘considerable support’ for an increase in the weighting of GDP in its quota formula; staff policy paper simulates the most likely changes to the formula’s make-up
Collateralisation of borrowing may reduce bank resolution costs
This ‘net benefit' should result in lower overall funding costs and thus a lower probability of distress despite increasing encumbrance of the bank's balance sheet, according to a recent IMF paper
IMF user guide takes stock of current toolkit for systemic risk monitoring
Paper provides guidance on selecting and interpreting monitoring tools; a continuously updated inventory of key categories of tools; and suggestions on how to carry out systemic risk monitoring
IMF ‘cookbook' paper outlines basic recipe for macro-pru policy
The paper provide new evidence on the effectiveness of different policy instruments using survey data
IMF paper highlights importance of macro-pru and monetary policy co-ordination
Researchers find that policymakers tend to use macro-prudential instruments more quickly ‘if the ability to conduct monetary policy is somehow constrained'
BoE's unanimous vote to keep QE unchanged raises eyebrows
The MPC said an investigation of additional policy options would make it unwise to expand QE at the moment; At the same time IMF calls for more stimulus
IMF says China needs new tools to get a grip on credit growth
Staff report on China highlights need for a new growth model centred on private consumption; calls for the PBoC to adopt interest rates as its key policy instrument
Lagarde advocates closer European integration
IMF managing director tells Romanian audience the ‘right future’ for Eastern Europe is greater integration with its EU neighbours; implores region not to turn its back on European project
Central Bank of Hungary moves to shut IMF's Budapest office
Central bank governor György Matolcsy says Hungary has almost completed its stand-by arrangement, so the IMF's work there is done; Hungary's relationship with the fund has been turbulent
Paper finds global beats local in determining short-run sovereign bond spreads
Global factors tend to drive spread changes particularly during periods of severe market stress
IMF cuts global growth forecast as capital outflows hit EM economies
Global growth is projected to remain slightly above 3% in 2013; fund says risks of a longer growth slowdown in emerging market economies ‘have increased'
IMF's Lagarde supports negative rates in eurozone
IMF Article IV for the eurozone backs Draghi promise to keep rates low and says negative rates would support demand and ward off deflation; ECB chief concerned that financial transactions tax will hurt monetary policy efficacy
No ‘credit crunch' in the Middle East after Basel I, IMF paper finds
Despite higher capital adequacy ratios, banks expanded credit and asset growth, according to new research
Overlooked global factors have major impact on long-term interest rates, IMF paper says
Research paper says the explanatory power of domestic variables on rates is weak compared with global fiscal and monetary policy stances