Central Banking
Philly Fed paper tests accuracy of Phillips curve in forecasting inflation
Philadelphia Federal Reserve study shows accuracy of Phillips curve models in forecasting inflation is highest during economic downturns
De Nederlandsche Bank paper measures flow of trade-based money laundering
De Nederlandsche Bank study shows money laundering through licit exports and imports offers way around stricter anti-money laundering regulations in financial markets
Video: BBA gives first, exclusive views on the ICB report
In an exclusive interview, the BBA discusses whether the ICB should have looked more closely at other separation models for its final report on financial stability in the UK
Developing country representatives lament poor banking oversight
Intergovernmental Group Of Twenty-Four On International Monetary Affairs And Development says IMF surveillance of financial institutions is scuppered by weak implementation framework and practices
IMF launches mobile phone application
International Monetary Fund releases mobile application; allows Apple iPad users access to statistical data
Kenneth Rogoff receives financial economics prize
Harvard University professor Kenneth Rogoff awarded 2011 Deutsche Bank Prize in Financial Economics
Australia less likely to catch US cold: RBA’s Battellino
Reserve Bank of Australia deputy governor Ric Battellino says weaker economic ties between US and Australian economy suggest Australia is less exposed to recessionary effects
Long-term yields plunge as Fed initiates Operation Twist
Federal Open Market Committee to buy $400 billion in long-term government bonds in exchange for shorter-dated paper as yields on 10- and 30-year Treasury bills decline
IMF says time is ‘running out’ to stabilise world economy
Global Financial Stability Report makes urgent plea for action to tackle vulnerabilities that threaten the global financial system; reveals €200 billion ‘impact’ on EU banks from sovereign debt crisis
Worldwide warnings of escalating risk
International Monetary Fund and European Systemic Risk Board caution authorities over worldwide risk dangers; urge swift and decisive action
Aussie dollar gains result in $4.78 billion loss for central bank
Reserve Bank of Australia records massive loss during 12 months to June due to decline in valuation of foreign asset reserves
Bank’s Dale explains vote reversal
Bank of England chief economist Spencer Dale says materialisation of risks to UK growth outlook motivated decision to hold rates
Crisis accelerated EMU development: ECB paper
European Central Bank study says financial crisis gradually sped up institutional development of Economic and Monetary Union
Debt tolerance levels in Central America: IMF paper
Fund study shows level of debt reduction needed to achieve investment-grade credit-rating status
Canada banking regulator hires central bank official
Mark Zelmer will leave central bank; becomes assistant superintendent of the regulation sector at the Office of the Superintendent of Financial Institutions
Greece talks with Troika back on track
Negotiations over Greece‘s sixth tranche of bailout funds are set to resume as Troika leaders agree to return to Athens
Bernstein sounds warning to new Danish government
Governor Bernstein says there is no need for fiscal stimulus; urging government to pull back from election process stimulus promises
Asset Purchase Facility focus of BoE QE discussions
Bank of England minutes reveal Monetary Policy Committee considered changing maturity profile of asset purchase facility
ECB policy would shatter big CCPs, critics warn
Plans to have CCPs based in the jurisdiction of the currency they clear would pull apart multi-currency services, experts warn, after UK Treasury challenges ECB
NBD paper assesses impact of credit card surcharge on cash payments
National Bank of Denmark study shows new credit card surcharge did not cause shift towards greater cash payments
IMF paper on enhancing DSGE modelling
Fund study identifies benefits from adopting a richer set of data in dynamic stochastic general equilibrium models
Canada’s Carney points to some optimism from global outlook
Bank of Canada governor Mark Carney says there are significant growth opportunities for Canada despite deterioration in global economic outlook
Bank of Portugal paper reviews effects of transport costs on trade
Bank of Portugal study rejects the pure iceberg cost approach used to measure transport costs for exporters
Former deputy chairman to stand trial over Securency scandal
Central London court commits Bill Lowther to stand trial; hearing scheduled for early December