International Monetary Fund (IMF)
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
IMF paper highlights weak monetary transmission mechanism in Vietnam
Vietnam has suffered from higher inflation than other Asian economies over the past five years – despite comparable growth rates
Finance sector balance sheets vital for monetary policy transmission, IMF paper shows
Balance sheet effects are comparable in magnitude to the traditional interest rate channel in transmitting monetary policy, say IMF researchers
IMF figures show advanced economies loading up on Australian dollars
Stock of foreign exchange reserves continues upward trajectory, with Australian currency finding favour in advanced economies, and the Canadian dollar in vogue in emerging nations
IMF plans overhaul of assistance to central banks and governments
Policy paper lays out plans for ‘single strategy’ combining technical assistance and training; pilot programme for new Capability Assessment Program aims to improve monetary and fiscal policy
IMF research quantifies distributional damage from fiscal consolidation
Working paper suggests efforts to cut budget deficits in advanced economies have raised inequality, cut the wage income share of GDP and pushed up long-term unemployment
ESRB issues macro-pru advice, as IMF warns over possible conflicts
European Systemic Risk Board recommends five ‘intermediate objectives' for macro-prudential policies in the EU; IMF paper warns of potential conflicts with micro-prudential measures
IMF paper weighs effect of shifting bank funding in eastern Europe
Researchers from the International Monetary Fund find banks rebalancing their funding sources away from foreign loans; warns global regulation may make this process too rapid