International
Carney defends financial sector’s record on climate action
Finance ready to flow to green projects if politicians take lead, BoE governor says
Cœuré and Cunliffe to lead research group on CBDCs
Six central banks and the BIS will explore use cases and share knowledge
Brookings paper examines impact of governance structures on use of CCyBs
Countries with strong governance mechanisms are more likely to use the macro-prudential tool, researchers find
Remittances can cause volatility if concentrated – IMF paper
Flows of remittances are broadly stabilising for the receiving country, but not if they are too concentrated, paper finds
Non-bank growth slowed in 2018, says FSB
Riskiest forms of non-banks still growing, but overall assets went into reverse in 2018
IMF cuts forecast again, but says slowdown may be ending
Fresh downward revision to growth outlook set against “tentative stabilisation”, says Gita Gopinath
Climate risk models not up to scratch, warns BIS report
New research highlights models’ inability to accurately anticipate climate risk
Paper models monetary policy in a ‘Hank’ framework
Authors combine micro and macro “moments”, finding investment is “crucial” to policy transmission
People: Trump nominates Shelton and Waller to Fed posts
Judy Shelton and Christopher Waller nominated as Fed governors; further appointments in Nigeria and at the BIS
Central banks must learn lessons of BoJ’s inflation target rise – Fed paper
Failure to hit old targets and disagreement among policy-makers will harm credibility, paper argues
Cyber security suffers from inconsistent approaches, says IMF’s Lipton
Emerging markets struggle to implement international recommendations
BIS statistics committee to focus on fintech and big data in 2020
Irving Fisher Committee plans to complete its fintech work and update a 2015 survey
People: Modi’s government appoints new RBI deputy governor
Michael Patra takes position left by Viral Acharya in June 2019; EBA names new executive director
BIS adds members and boosts EME voices on committees
Emerging markets now better represented on key governance bodies
Demographic change could mark end of economic growth – NBER paper
Shrinking populations could cause knowledge and living standards to stagnate, author says
People: Israeli governor nominates Andrew Abir as deputy governor
Former Sarb deputy governor appointed chief executive of Absa financial group; and more
Economists call for action on risk of dollar liquidity crunch
Credit to non-banks and currency mismatches have grown, while oversight is “fragmented”, report warns
Machine learning model flags importance of yield curve for crisis prediction
Model has potential to allow policy action before crisis hits, BoE paper says
RBA: stablecoins must wait until framework in place
Australian central bank says it may step up CBDC research efforts
Proportion of women working in central banks dips
On average, women make up 45% of central bank workforce
Higher oil prices dampened impact of Fed spillovers in Gulf – IMF paper
Changes in Fed rates likely to have minimal impact on GCC growth with current oil prices, researchers say
Crises are non-linear, beware high debt levels – research
IMF paper warns against complacency on high debt levels
Rates have been falling for eight centuries – BoE research
Study casts doubt on major theories, including secular stagnation
Central bank research may be too focused on narrow topics – paper
Network analysis finds many central banks are limited in the scope of their research