Data
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
BoE authors outline machine learning framework
Paper offers guide to machine learning in central bank analysis, and sets out a few examples relevant to policy
BIS payment stats to embrace non-banks and faster payments
New methodology acknowledges role fintech has played in reshaping payments landscape; contactless payment data to be included
New NY Fed dataset shows weakening labour market
New York Fed unveils new, more granular labour market data; results so far indicate wage growth is still elusive
Regulators wary of machine learning in bank models
Banks acknowledge they “cannot hide behind a complex tool” to assess interconnectedness
Wage growth may be stronger than headline figures suggest
San Francisco Fed researchers point to evidence that headline figures may overstate wage weakness; UK figures provide a positive surprise
RBA’s Kent warns mortgages are still risky, despite offsets
RBA assistant governor says use of offset accounts does not remove the need for tighter lending standards; new securitisation database sheds light on housing market
FCA threatens further action against firms “misleading” customers
UK regulator says some banks are still incorrectly using currency transfer services, despite warnings last year; customers are “not fully aware” of being misled until registration has taken place
Verbs matter in forward guidance – Italian paper
Researchers look at verbs used in ECB statements from 2002 to 2015
BSP’s Espenilla: Philippine banking system is ‘very robust’
Central bank to use data-gathering portal to improve services and increase communication with the general public
Bank of Canada hikes for first time in seven years
Bank of Canada becomes the latest advanced economy central bank to hike as the economy proves robust and inflation moves towards target
CCP network study uncovers highly concentrated core of firms
First data-collection exercise of its kind reveals a concentrated core and more dispersed periphery, with the possibility of shocks spreading outward
Bank of Canada broadening intelligence gathering with new survey
Systemic risk survey will be launched next year, says deputy governor, emphasising market intelligence can never provide a “perfectly complete picture”
Bank innovation in consumer data will increase, EBA says
New laws will hasten pace of innovation but should increase consumer rights, EBA argues; market participants see laws as adequate but concerned about cyber security
UK audit office praises most of BoE’s ‘One Bank’ strategy
Report says Bank of England has been broadly successful in its transformation, although there have been some delays and changing culture is a long-term challenge
Recovery increasingly resilient; inflation predictions down – ECB
GDP forecasts revised up and ECB says recovery is “broadening”, but inflation projections revised down
OCC warns on cyber risks from subpar patches at US banks
Regulator says banks have good track record overall, but exams reveal weaknesses
MAS seeking to build data science community, says chief data officer
David Hardoon urges people to embrace data science and computing; authority is looking to build links with academia and financial sector to share ideas
Forecasting would improve with more regular data, says RBNZ’s McDermott
New Zealand is one of two advanced economies that uses quarterly data instead of monthly; current schedule has limited forecast improvements, RBNZ assistant governor says
Gaps in real estate data could threaten financial stability – Buch
Bundesbank vice-president highlights importance of monitoring credit conditions in tandem with house prices; G20 looks to data collected and distributed to fill gaps
Construction underway on Philadelphia Fed data centre
Federal Reserve Bank of Philadelphia publishes annual report; data centre approved in June 2016 will offer access to range of granular datasets
Type of uncertainty matters for modelling – Norges Bank paper
Author develops method to “disentangle” various forms of uncertainty, finding they can have good and bad effects
Danish GDP revision helps solve productivity puzzle – bank
Figures better capture details of the current account, leading to substantial revisions in GDP and productivity growth, the Danish central bank finds
IMF paper offers new ways of measuring capital flow volatility
Authors say more granular dataset and three different methods of calculating capital flow volatility allow them to gain new insights