Central Banking
Namibia weighs in on DLT debate
Central bank deems unregulated virtual currencies “unsafe” but sees merit in underlying technology
Hawkish signs appear in BoE’s latest communication
Committee still split 7–2 in favour of keeping policy on hold, but members flag possibility of a hike at the November meeting
IMF report studies country responses to volatile capital flows
Set of case studies emphasises value of macro-prudential policy in resisting credit booms across emerging and advanced economies
Only 30% probability of eurozone inflation hitting target in next year, paper says
Italian researchers present composite index based on 15 indicators of price dynamics
Denmark central bank issues warning as economy heats up
The National Bank of Denmark cautions the labour market is tight and the economy may be close to overheating
DLT not ‘necessary’ for central bank digital currency – BoE economist
BoE economist says there are many technological requirements for successful digital currency, but ultimately there are serious economic questions to answer too
Cleveland Fed’s Mester upbeat on prospects for US economy
Loretta Mester backs continued gradual rate rises and the commencement of balance sheet normalisation “in the near future”
Swaziland central bank needs macro-prudential powers – IMF
Fund urges authorities to fast-track reform to give central bank financial stability mandate; reliance on customs union leaves economy vulnerable
BIS’s Restoy warns against ‘supervisory straitjacket’
Rules-based frameworks for banking sector intervention may “unduly constrain” regulators, the head of the Financial Stability Institute says
People: Fijian interim governor appointed permanently, Azerbaijan deputy leaves
Fiji’s Ariff Ali appointed on permanent basis; Azerbaijan deputy steps down; Bank of England retains PRC members; and more
Bank of Spain was one of toughest pre-crisis regulators, report argues
But counter-cyclical provisions were not high enough to cope with crises, Bank of Spain says
Chile puts board members in spotlight with decision-making overhaul
Changes aim to make communication more transparent while aligning central bank with international best practice; eight meetings will now take place each year
Housing reform ‘will stabilise’ market – Danish central bank
The new taxation system aims to reduce price volatility by 20% and stem rising house prices in cities
Sarb returns to court amid secret meeting claims
New court documents allege South Africa’s public protector might have had “ulterior purpose”; secret meeting with presidency revealed
Bank of Canada rebuts ‘epic fail’ communication claim
Central bank’s head of comms rejects criticism from Bank of Montreal that policymakers failed to properly signal its recent rate hike
Kosovo governor Hamza resigns to become finance minister
Deputy governor for financial supervision named as interim head
Bank of Finland paper deems bitcoin ‘revolutionary’
Bitcoin cannot be regulated, say economists, who give the volatile cryptocurrency a glowing review
Savings and good governance are best policy against natural disasters – IADB
Chile was able to overcome a major earthquake in 2010 without resorting to international funding
Australian first-home buyers have better finances, study finds
RBA research paper finds fewer people are transitioning from renting to owning houses, but those who do tend to be more financially stable
PBoC dials back on forex controls
Renminbi ends 11-day rise after the central bank relaxes reserve requirements; analysts view move as attempt to end one-way trading
Philadelphia Fed launches new research institute
Research body is tasked with better understanding consumer behaviour, particularly in relation to financial markets
Benoît Cœuré: exchange rate pass-through has fallen for eurozone
ECB board member calls for reconsideration of IS curve modelling
Irish governor calls for fiscal prudence
The government’s debt target may need to be revised, argues Lane
Racial wage gaps in US caused by ‘harder-to-measure’ factors
Lack of opportunity plays bigger role than education and profession in racial inequality, paper finds