Central Banking
BIS research says macro-pru could help African central banks
Paper shows African central banks are less likely to allow exchange rate deprecation when reacting to external shocks
San Francisco Fed research explores evolution of job-matching efficiency
As people out of the labour force are included, the volatility of the job-to-job transition rate falls, economists find
São Tomé and Príncipe redenominates currency
New banknote series sees new and old dobras swapped at 1:1,000 ratio; UK-based printer De La Rue to develop new series
Maldives president appoints new governor in defiance of parliament
Nominated governor needs parliamentary approval but troops stop lawmakers from meeting
ECB paper presents new measure for monitoring real estate vulnerability
Aggregated measure out-performs most models as predictor of past crises, authors say
Fed announces Libor alternative
Secured Overnight Financing Rate will measure overnight treasury financing transactions
Bundesbank moves 20% of gold reserves back to Germany
Bundesbank no longer stores gold in Paris
Draghi’s ‘whatever it takes’ is not credible – Nobel laureate
Chris Sims says ECB cannot be sure it will be able to stop a run on the euro until it is backed by a central eurozone fiscal authority
Recent low US inflation figures likely to be revised – Dallas Fed vice-president
Data allows “nowcasting” of inflation, paper argues
Central Banking Awards: deadline for entries fast approaching
Entries for the next round of Central Banking’s awards close in two weeks; we take a look back at some notable past winners
Kansas City Fed explores sources of wage dispersion in the US
Paper explores relative importance of “lifetime differences” and “match-specific” factors
EU countries must stop state-funded bail-outs, Bundesbank board member argues
Use of state funds to bail out banks “not in the interest” of legislators, Dombret says
Kenya’s central bank issues new cyber security guidelines
Banks will have to report breaches within 24 hours with senior management taking on a greater role
Riksbank’s deputy argues for changes to monetary policy regime
Mulled changes would remove distortions, analysts say
ECB criticises government of Cyprus over new central banking legislation
Collection of information on individual debtors is a “government task”, ECB says
Opaque money markets work well, Nobel laureate says
Bengt Holmström says policymakers should not try to make money markets more transparent
BoE economist argues against benefits of cryptocurrencies
Cryptocurrencies have “failed” to compete with fiat currencies as an alternative store of value
Sarb deputy says current ‘implicit’ deposit protection is ‘risky’
South Africa’s resolution framework one step closer to revamp; deputy governor says current ‘implicit’ deposit protection not sufficient
Public spending shocks work better when households are confident- paper
Government spending stimulus reduces household confidence as it confirms pessimism regarding the economy, paper argues
QE has positive spillovers into south-eastern Europe, ECB paper says
Some countries experience stronger inflationary effects than eurozone - researchers
QE has not increased eurozone inequality - ECB’s Constâncio
Low-income households benefit most from stimulus, ECB vice-president says
Finnish paper investigates key factors in financial development
Data points to rule of law and economic development are key factors, paper argues
Indonesian central bank cuts interest rates despite slight inflation rise
Inflation is expected to remain within target, Bank Indonesia says
People: Trio of deputies appointed at Sri Lankan, Korean and Bahaman central banks
Veteran central bankers appointed at Sri Lankan and Korean institutions; Bank of Bahamas also gets new second in command