Central Banking
Argentina raises interest rates in pursuit of lower inflation
Despite declining core inflation, higher fuel prices could pose a threat to the central bank’s 2018 target; central bank raises rates to 23.75%
China’s party congress hints at new PBoC chief
Contest narrows to banking regulator head Guo Shuqing and Hubei province party secretary Jiang Chaoliang
RBI welcomes $32 billion public bank recapitalisation
Government unveils funding package designed to free India’s large public banks from a heavy burden of non-performing loans
ECB’s Nouy advocates global banking supervisory co-operation
The international nature of the financial system demands regulation across borders
Sri Lanka working to introduce ‘proactive’ policy – governor
Central bank in the past tended to do “too little, too late”, leading to big swings in interest rates, says Coomaraswamy
QE and negative deposit rates have increased lending – ECB
Sub-zero deposit rate has created small boost, but only 10% of banks report higher lending volumes due to negative rates
BoJ says Japan is overbanked
The central bank says Japanese banks may have too many employees and branches
Better structure could protect investors in P2P market - BoJ paper
Use of “specific purpose companies” could help protect investors in the event of the collapse of a P2P platform
Florens Luoga named new Bank of Tanzania governor
Tax lawyer and academic picked to head the central bank as Benno Ndulu completes second term
RBNZ faces mandate review under new government
Coalition agreement retains Labour pledge to consider shake-up of Reserve Bank mandate
US income inequality boosted by top 0.01% – research
Income via “pass-through businesses” is a great contributor to top inequality
Bank of Israel grapples with low inflation
Latest figure is a welcome exit from deflation but the central bank does not expect prices to be back on target until 2018
Paper highlights disparity in which fields of economics women enter
New York Fed study examines female participation rates in economics through conference case study, suggesting there may be barriers for women entering finance
European financial system is bigger and more concentrated, ECB says
NPLs have declined, but remain high in Cyprus, Greece, Italy and Portugal
CCPs say central bank access needed to avoid liquidity crisis
Uniform access to deposit accounts and overnight liquidity vital, say market participants
Schoolgirl takes over management of Paraguay’s central bank
Alejandra Belén attended a board meeting and gave official address during her day in office; central bank takeover forms part of wider campaign
BoE paper examines regulation spillover effects
Case study analyses effect of Spanish balance sheet regulation on Mexico’s economy, showing housing credit contracted
Communication technology helps explain productivity puzzle – Fed paper
Properly accounting for ICT services produces “very large” boost to US labour productivity figures, authors say
Banking industry has ‘consistently failed customers’ – Ireland’s Sibley
Banks should focus on whether outcomes are desirable, not just whether they are legal, says deputy governor
UK’s FCA claims success after first year of ‘sandbox’
Regulatory ‘sandbox’ has had high success rate, but there have been some issues, says regulator
Widening exchange rate band is not a top priority – PBoC’s Zhou
Zhou makes first public confirmation he is set to retire soon; warns the country’s excessive optimism could lead to a “Minsky moment”
Cambodia launches first phase of payment inclusion network
New network will allow customers greater access to financial services through ATMs and POS to make interbank transactions
RBA needs representative for the poor – religious group
The proposed new board member would help the central bank understand the effect monetary policy has on the poor, says group
CBN orders banks to form central customer watchlist
Nigerian central bank ramps up payment system risk management with core customer database, which will put bank customers on a ‘watchlist’ in instances of misconduct