Europe
Lane stresses broad consensus on ECB policy
Comments come after criticism from German and Dutch central bank governors
Dutch governor attacks ECB’s new stimulus
Klaas Knot says rate cut and QE is “disproportionate to present economic conditions”
ECB cuts rates to new record low and re-starts QE
Deposit rate decreased to –0.5% and open-ended asset purchases launched at €20 billion a month
ECB corporate QE also transmitted through bank lending – ECB research
Spillover effect independent from banks’ balance sheet quality
ECB expected to cut rates and restart QE to boost inflation
But Draghi’s ambitious stimulus package faces growing opposition from governors in surplus countries
High public debt hampers fiscal stimulus in eurozone – Bank of Portugal research
High debt deepens crises, increases spillover effects and cuts scope for counter-cyclical fiscal policy
Macro-pru is no panacea
Many central banks need better macro-pru frameworks
30 years of forecasting: have central banks learned anything?
Forecasting models are constantly being upgraded, but forecast errors are still persistent
EU regulators must co-operate more over money laundering – EBA head
EBA will set up cross-border AML “colleges” but governments need to improve mandates, says Campa
Inflation targets may have to rise, new study finds
Optimal policy would see targets rise by roughly the same amount as the decline in neutral rates
Eurozone needs low-risk asset, ECB paper says
New asset would allow banks to change holdings of sovereign bonds, researchers argue
EU should stick with Basel output floor – ECB’s Enria
ECB supervision chief urges lawmakers to implement contentious Basel III model constraints
People: Banque de France deputy nominated to EU Commission
Additional appointments in Turkey, the US and at the Financial Stability Board
BoE forced to reveal latest analysis of no-deal Brexit
Carney writes that preparations have helped reduce likely impact of “worst-case” no-deal
Lagarde tells lawmakers eurozone must reform
Candidate for ECB president hints at possible greater openness to civil society groups
DLT and financial markets governance – Mutual dependency and the role of supervisors
Maciej Piechocki, Moritz Plenk and Aaron Janowski of BearingPoint examine the need for regulatory authorities to develop a clear strategy on how to become part of distributed ledger technology platforms, take advantage of the resulting enhanced data…
ECB’s Mersch attacks Facebook over ‘cartel-like’ libra structure
Senior ECB official accuses currency project of “treacherous promises”
Lagarde calls for eurozone-wide fiscal capacity
Eurozone nations should have counter-cyclical fiscal instrument and common treasury – Lagarde
Eurozone inflation to remain at 1% in August – official data
Below-target inflation may support loosening announcement by ECB on September 12
ECB and EU auditors sign deal on supervisory data access
Auditors will view sensitive documents in controlled environment, ECB says
Fears about eurozone countries weigh on credit creation – research
Perceptions of weakness at individual banks are less important – Bank of Portugal paper
Europe’s regulators grope for value of software
EBA looks for right approach to classifying financial firms' software investments
Communication has to be two-way – ECB’s de Guindos
Communicating with markets influences behaviour, affecting signals received in return, says vice-president
ECB gives eurozone banks more time to deal with new NPLs
Leading European lawmaker welcomes relaxation in ECB’s provisioning requirements