Central Banking
Iceland hikes rates for first time since 2016
Central bank tightens rates as inflation continues to rise above target
Reducing central bank independence harms economies, Poloz warns
Turkish and Argentinian governments part of “worrying” trend, Canadian governor says
Rajan sees room for disagreement between RBI and government
But former governor says triggering Section 7 would be cause to be “very worried”
Costa Rican central bank hikes rates over inflation fears
Government faces opposition to fiscal reforms as currency slides
Lagarde calls for an end to trade tensions
IMF chief says countries should ‘fix’ global trade system, not ‘destroy’ it
Unconventional policy may reduce bank resilience, BIS paper finds
QE had different effects on “core” and “periphery” eurozone countries, researchers say
Eurozone may be close to potential growth – ECB paper
But all estimates of potential GDP should be treated with caution, researchers argue
Barbados has done ‘reasonably well’ meeting IMF targets, says governor Haynes
Central bank records reserves uptick in latest quarterly review, as government commits to IMF financing targets
Standard-setters can only partially support inclusion – BIS’s da Silva
Standard-setters can balance risks and opportunities, but cannot tackle deeper structural issues
NY Fed economist explores election night volatility
Treasuries suffered dramatic moves as Donald Trump was elected in 2016
Rwanda concerned by high NPL levels despite improvement
Central bank records 6.5% decrease in NPL levels but ratio remains above the 5% benchmark
Chinese banks fail tests as PBoC warns of ‘grey rhino’ risks
Half of banks failed the most severe stress tests; central bank says transition to new economy might unleash unexpected risks
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