Central Banking
US banks’ strategic similarities pose risks – NY Fed official
“Supervisors should be dynamic and continue to evolve as the supervised firms do,” Kevin Stiroh says
West African single currency plans move towards lift-off
Ecowas community launches competition for design of new currency aimed at strengthening trade and growth within the region
Flug defends Bank of Israel’s role as government economic adviser
Departing governor clashed with executive over public spending priorities
UK banks struggle in EU-wide stress tests
Italian banks also suffer heavy losses in EBA’s most severe test conducted to date; BoE says UK faced tougher test than others
Review into New Zealand bank conduct reveals failings
New Zealand’s central bank urges government to provide regulators with sufficient powers to address conduct, as significant weaknesses appear in the sector
Malaysian central bank to offer $250 million in housing loans
BNM holds internal inquiry into land deal as former prime minister is charged
Japan does not need more large-scale stimulus to avoid deflation – Kuroda
Below-target inflation still requires ultra-low interest rates and asset purchases
Fiscal deficits caused persistent pressure for Mexican inflation, paper finds
Central bank independence stabilised inflation, researchers find
Kganyago highlights the dangers of ‘state capture’
Sarb governor says country still suffering from twin deficits
US unemployment remains at lowest level since 1969
Hourly wage growth is at highest rate since 2009, but year-on-year inflation falls to 2%
BoE paper proposes nowcast method for GDP revisions
Dynamic factor model reveals information on how early estimates may be revised, authors say
Bank of Canada publishes 30 years of staff forecasts
Online database “further step” in transparency efforts, deputy governor Wilkins says
RBNZ makes major changes to leadership structure
Central bank to be headed by a senior leadership team
Payments changes far more important than bitcoin, Carstens says
Work on card and mobile phone payments is of “immense importance” – BIS general manager
US forward guidance had limited effectiveness, Fed paper finds
Households and firms took until 2012 to seriously consider new regime, researchers say
BoE launches comms push as it seeks face for £50 note
Central bank seeks boost to public engagement from nominations and ‘Future Forum’
BIS committee finds inadequacies in derivatives data
Challenges remain, despite significant progress, Irving Fisher Committee reports
Fed proposes lightening regulations for large banks
Lael Brainard objects to plans, warning they could leave taxpayers “on the hook”
Nigerian central bank in $8 billion court battle with telecoms company
South African firm says central bank’s demand over alleged breach of forex rules is “illegal”
Brazil holds rates on higher international volatility
Policy normalisation in advanced economies and trade tensions are main risks to recovery
BoE on hold as Brexit clouds outlook
Central bank may have to raise rates even in disorderly Brexit scenario, Mark Carney says
US policy has greater impact on non-US leverage than domestic policy, paper finds
The phenomenon is complex for policy-makers, authors say
Argentina’s 2019 elections pose extra challenge to revamped IMF programme
Increased stand-by arrangement intends to eliminate primary budget deficit in 2019
Nouy says time is right for Europe-wide deposit insurance
Governments should “consider some solidarity”, ECB’s chief supervisor says