Investment
DNB signs ‘responsible investment charter’
Managers of Dutch central bank funds must use environmental, social and governance criteria
Norway’s SWF excludes rubber company on environmental grounds
Singapore-based rubber producer thought to have taken unacceptable risks
IMF paper looks at central banks’ use of forex reserves
Reserves used more for liquidity than for investment in decade since financial crisis, researchers find
Summers and Rachel set out fresh evidence on secular stagnation
Policy-makers may need to rethink their approach in a world of ultra-low real rates, authors say
IMF urges Bank of Korea to pursue ‘accommodative policy stance’
Fund urges central bank to implement “light” macro-prudential policies
BoE official warns of Brexit investment impact
Investment is unlikely to bounce back to pre-Brexit levels, Haskel says, regardless of whether a deal can be agreed before the deadline
Technology in reserve management: Outlook for 2019
Reserve managers look to cloud for solutions, but security issues remain
Trump’s tariffs may have caused inflation – researchers
Estimates indicate tariffs may have already contributed 0.1 percentage points to CPI, authors find
BoE paper outlines results of uncertainty experiment
Decision-maker panel seeks to gauge business uncertainty in the context of Brexit
Lifetime achievement: Zhou Xiaochuan
The former People’s Bank of China governor stands out for his high levels of integrity, intellectual rigour and bold reforms that have served the public interest in China and elsewhere
BoE offers bleak forecasts as Brexit 'fog' deepens further
Rates stay on hold as central bank eyes growing damage from Brexit uncertainty
Low rates can harm productivity, say Liu, Mian and Sufi
Low rates may end up discouraging investment across the economy, authors say
Central bank of the year: Monetary Authority of Singapore
Singapore’s central bank stands out for its pioneering fintech efforts combined with its consistency of performance in monetary policy, financial stability and supervision
Central Bank of Nigeria funds post-graduate economics centre at university
President praises CBN’s “huge investments” in economy as rival pledges change of governor
Risk manager: Saudi Arabian Monetary Authority
A multi-year overhaul of the Saudi central bank’s risk architecture has come to fruition, resulting in radical changes in behaviour
Professional services initiative: World Gold Council
Having identified seven different ways of accounting for monetary gold among 70 central banks, the WGC developed guidance to bring greater consistency to accounting practices
Innovation prompts firms to hold more cash – IMF paper
Firms must hold enough liquidity to insure against risky research and development
Custody initiative of the year: Citi
The US financial group used its global presence and technological edge in 2018 to deepen existing relations and obtain new mandates
Norges Bank excludes three companies from SWF
Central bank sanctions firms due to human rights and environmental violations
Low rates can encourage risk-taking – BoE paper
Author models the risk-taking channel of monetary policy alongside a “bankruptcy channel”
The PBoC’s efforts to solve the ‘impossible trinity’
Chinese central bank intervenes to manage offshore renminbi rate; uses swaps, rather than selling reserves in latest currency interventions
The ‘great fintech wall of China’?
Deploying fintech wrappers could help to solve part of the People’s Bank of China’s capital control dilemma; trials possible in Greater Bay Area
Trade tensions may reflect international system design flaws
Former PBoC governor Zhou says global system faces “grave challenges” while former EC president Barroso says current framework “is not working”
China remains “committed” to globalisation, says Zhou Xiaochuan
Debt sustainability to be discussed at second Belt and Road Initiative summit next year; WTO deal still needed