International
IMF economist: central banks may have misdiagnosed secular slowdown
Lower neutral rates may have been caused by central banks lowering rates, researcher says
EMEs can resist spillovers with prudential policy – BoE paper
Some prudential policies work better than others, researchers find
Expectations and term premia both drive spillovers – BIS paper
Different components have greater impacts in advanced and emerging economies, authors find
Seven threats from big tech’s libra
Can central banks avoid a ‘big tech’ monetary meltdown?
BIS launches green bond fund for central banks
Institution aims to use fund’s clout to influence development of green investment standards
Book notes: Economics for the common good, by Jean Tirole
The book should be well received amid the recent rise in populism
Kristalina Georgieva confirmed as IMF managing director
World bank chief exec says boosting fund’s financial strength and tackling crisis risk are priorities
BIS authors detail new data on non-bank exposures
Banks have highly concentrated exposures to non-financial counterparties, researchers say
Central banks urged to adopt DLT-based CBDC
Industry figures argue central bank money is needed for token-based securities settlement, but central bankers are sceptical
Carney calls for more nuanced approach to green metrics
Binary green-brown distinction is not enough to drive transition to low-carbon industry, BoE chief says
Swift conducts 13-second cross-border payment
Trials saw payments go from origination through to clearing and settlement in seconds
IMF officials call for ‘far-sighted’ digital currency regulation
Stablecoins could put weaker currencies at risk and increase illicit activities, IMF officials warn
BIS’s Borio warns of ‘troubling’ negative yields
BIS quarterly review highlights new peaks in negative-yielding debt and examines CLO risks
Rate round-up: Fed triggers further global easing
Fed cut prompts flurry of action, with many central banks hinting at a more dovish stance
ECB’s Cœuré weighs stablecoin risks
Executive board member calls for improved global payment systems, while preserving global policy priorities
30 years of central banking
Central banks face credibility tests on a number of fronts
BIS’s Restoy calls for further action on resolution frameworks
Work on finalising crisis-management framework is not complete, says Financial Stability Institute head
BoE paper: ‘tails’ matter when studying global financial cycle
Authors look to the tails of the distribution to understand exchange rate risk in the global cycle
Global growth will strengthen in 2020, says strategist
Central banks should be cautious about responding to manufacturing slowdown, Kevin Gardiner says; Fed likely to cut again in September 18 decision
Regulators meet in Basel to grill stablecoin backers
Conference convened by G7 stablecoins group included Libra Association, Fnality and JP Morgan
BIS paper: DLT opens possibility of ‘embedded supervision’
Distributed ledger data would be useful for supervision, but must be trustworthy, author says
Central banks are ‘riders on the storm’, say Jordà and Taylor
Central banks control less than half the overall variation in interest rates, authors find
Book notes: Narrative economics, by Robert Shiller
The book is good fun to read, but some elements are a little disappointing
BoE’s Hauser urges firms to adapt to forex market fragmentation
Less sophisticated firms are paying much higher spreads, executive director says