Euro
Higher CPI unlikely to change Danish loose monetary policy
Consumer prices rise in July at the highest rate since December 2012 on food prices and package holidays, but analysts expect it to fall again over the coming months
Belgium’s mint to close in 2018
Coin production will be outsourced to save money, given decline in production, losing no jobs in the process, Mint official says
ECB and ESRB present database on European financial crises
New database will be key tool for macro-prudential authorities
Weaker franc gives SNB newfound leeway
The central bank may be able to slow or halt its massive foreign exchange acquisitions as the Swiss franc hits its lowest level against the euro since January 2015
BoE’s Broadbent: globalisation has been largely a good thing
Bank of England deputy says flexible labour market has helped dull the pain of adjustment to trade shocks, while lower prices have most benefited the poorest groups
Any London forex trading move would be ‘gradual’ – ECB
City’s place in global submarine cable network is likely to be key, researcher says
Wholesale funding ‘dry-ups’ driven by bank quality, ESRB paper argues
Researchers use data on certificate of deposit market between 2008 and 2014
US dealers wade into European CCP relocation debate
CFTC hearing warns of increased margining costs and a pre-Brexit client onboarding crunch
Exogenous constraints affected asset purchase programme, Irish paper says
Research letter looks at impact of extended scheme
French regulator lays out plan to capture London euro clearing
AMF calls for equivalence to be scrapped for biggest CCPs and trade repositories
Reserve managers see politics shaping currency allocations
European political uncertainty weakens confidence in euro, with sterling pressured by Brexit; dollar’s popularity resurgent, despite Trump’s economic policies
Book notes: Architects of the Euro, edited by Kenneth Dyson and Ivo Maes
This biographical study of the 10 key players in the development of the Economic and Monetary Union provides a contrast to more historical analyses
ECB set for €50 note launch
The European Central Bank is to launch the fourth banknote in the new Europa series on April 4; the new note will retain design elements from previous series, but will feature revamped security features
Danish central bank conducts $670 million FX intervention
Danish central bank conducts largest intervention in FX market since June 2016; analysts say demand for krone will continue, but interest rate hike is unlikely
Cash is here to stay – SNB’s Zurbrügg
SNB official says reports of cash’s “death” are “exaggerated”; central bank has no plans to stop printing banknotes as its popularity remains
Bank of Italy paper looks at impact of monetary policy shocks
The impacts of eurozone and US shocks have diverged since the onset of the financial crisis, the working paper says
ECB reports 20.7% drop in number of counterfeits
Number of counterfeits ticked up in the second half of 2016, but annual figures are down; €50 note still dominates in terms of counterfeit volume, with new note to be released in April
New data sheds light on policy spillover channels – BIS paper
Expanded data published by the BIS show how US dollar, euro and yen affect cross-border lending flows
Hans Tietmeyer and his ‘mission’ for euro stability
Otmar Issing on how the former Bundesbank president helped to drive Germany’s social market economy and was instrumental in the stable introduction of the euro
Hans Tietmeyer, 1931-2016
Former Bundesbank president played key roles in German reunification, European single currency and reform of international financial regulation
African central banks have cut euro exposures, says Uganda’s Kavuma
Combination of negative interest rates and falling reserves hit euro holdings but most central banks still avoid investments within Africa
Czech Republic closer to euro adoption but still not ready – CNB
Economy is converging with Europe but costly accession to single supervisory mechanism means country is not ready to begin formal process, CNB says
Researcher uses dynamic factor model for ‘nowcasting’
Research makes three additions to widely-used model
Spanish paper looks at eurozone inflation expectations
Pan-eurozone factors are more important than country-specific forces, paper says