Central Banking
Internationalising renminbi – Hong Kong leads the way
Hong Kong’s advantages in technology, talent and infrastructure make it best placed to form the primary transaction and risk management network for the overseas offshore renminbi market, argues Zhou Chengjun, IFF Academic Committee member and deputy…
An international system for all
Reform of the system that brought about the financial crisis in 2007–08 has not gone far enough, writes Zhu Xian, IFF vice-chairman and vice-president of the New Development Bank. Developing countries are demanding greater influence in global economic…
Assessing the RBNZ’s new dual mandate
Researchers weigh pros and cons of multiple central banking objectives
Zimbabwe signs agreement with IMF to strengthen macro framework
New agreement will complement government reforms to foster macro stability amid high inflation
Riksbank supports plan for LCRs in all significant currencies
Swedish central bank thinks liquidity coverage ratio should be 100% in all major currencies
Fed still open to rate hike this year
Lower for longer interest rates could lead to greater financial stability risks, FOMC members say
Google data can underpin eurozone GDP nowcasts – Banque de France paper
Researchers say method is particularly useful when official data is unavailable
Central banks will not rescue firms from future of payments – ECB’s Cœuré
Market disruption is likely as incumbent banks fight to remain relevant to customers who demand more from their payment service providers
Now is a ‘critical time’ for Ibor transitions – Bailey
Global regulators convene in Washington, DC to tackle the transition to new benchmark rates
Yellen weighs in on Trump’s potential Fed nominations
Those “who come with a political view” may not get much traction at FOMC meetings, Yellen says
Chinese inflation rebounds amid easing of monetary policy
CPI hits 2.3% in March, the highest level in five months, while PPI reverses its declining trend since late 2017
Draghi gives downbeat assessment of eurozone prospects
ECB stands ready to use “all instruments” to meet inflation target, Draghi says
ECB nominates Yves Mersch to supervisory board
Lautenschläger gains new responsibilities on governing council; Mersch must be approved by European Parliament and will retain legal portfolio
‘Does the Fed know more about the economy?’ asks San Francisco Fed
Researcher compares Fed and private sector growth forecasts
Low interest rates adding to high global stability risks – IMF
Monetary policy-makers must look at both short- and medium-term stability risks, says Tobias Adrian
Cyber fraudsters starting to rethink tactics – report
Swift research shows hackers have switched to transferring smaller amounts during normal business hours
UK Labour Party floats idea of house price target for BoE
Report from opposition party suggests central bank could target 2% house price growth
Norwegian deputy issues warning on high private debt
Official advocates gradual reduction of household debt to income, as a sudden shock is a risk
RBA begins push for ISO 20022 payments migration
Central bank wants to make the switch before Swift ends support for some message types
Informal sector changes inflation dynamics – BIS paper
Informality dampens impact of some shocks but also impairs policy transmission, authors find
ESRB sets out first steps towards common macro-prudential stance
Problems exist with turning conceptual framework into operational tool, report concedes
Somali government appoints new central bank governor
Former adviser to the prime minister must continue rebuilding the central bank in the war-torn country
Fed considering imposing local liquidity requirements on foreign banks
The proposal will likely be one of the first of its kind in international regulation
Basel Committee seeks feedback on streamlined version of Basel III
Sprawling array of PDFs was getting difficult to handle, committee says; some elements have been trimmed and ambiguities removed