Oil
IMF: Central banks ‘must' ease if inflation expectations drop
Easing should be conducted through ‘other means' than interest rates if they are at ZLB, Fund argues in WEO update, which downgrades global growth forecast for 2015 to 3.5%
Ex-finance minister replaces Angolan governor after shock resignation
José de Lima Massano resigns from the National Bank of Angola; the President accepts his resignation and appoints former finance minister to succeed him
Canada deputy warns lower oil prices likely 'to be bad' for the country
Timothy Lane says gains from recent price drop ‘will be more than reversed' as hit to local producers ‘spill over to the rest of the economy'
Carney: ECB has ‘tools and clarity of mandate' to hit inflation target
BoE governor says there is ‘every reason' to expect the ECB to take the ‘measures necessary' to tackle low inflation as he weighs in on several international issues in parliamentary hearing
Central Bank of Venezuela grants exchange rate boost to state oil company
Venezuela's state-owned oil company can now sell its dollars from certain export contracts at the highest exchange rate in the country; president hints at exchange rate reform
Oil price forecast errors impact wider inflation estimates, Banque de France study finds
When there is ‘large’ volatility in oil prices, the pass-through of forecast errors to inflation estimates increases, research finds
Bank of Mexico will run new oil fund
Central bank will be responsible for receiving, managing and distributing all income, excepting taxes, of the country’s oil and gas operations; will invest over ‘wider horizon’ than with past fund
San Fran Fed letter highlights impact of oil prices on inflation expectations
Researchers from the Federal Reserve Bank of San Francisco say consumers update their inflation expectations using a ‘few simple rules of thumb’ – one of which is linked to the price of oil
Saudi Arabian Monetary Agency welcomes diversification away from oil
Annual report reveals boost to growth and falling inflation in 2011; welcomes government intent to expand non-oil sector
Norwegian governor wary of over-reliance on short-term debt
Øystein Olsen says Norway has weathered recent crises well, but points to possible vulnerabilities in the banking sector and wider economy
National Bank of Kazakhstan’s SWF seeks new fund managers
Central bank issues tenders for two managers to oversee portfolios worth $50-150 million each
Nigerian central bank tells government to act on oil
Monetary Policy Committee cautions government against ‘complacency’ in tax revenue collection and says swift action is needed to support the struggling oil industry
Norway paper finds emerging markets drive oil-price volatility
Norges Bank working paper finds that changes in emerging market demand for oil has more than doubled the impact on real oil prices and production compared with the developed world
Central Bank of the UAE optimistic in first financial stability review
First financial stability review released by Central Bank of the UAE reveals positive developments; growth has recovered since 2009 slump while inflation is near-zero
ECB paper analyses impact of oil shocks on exchange rates
Working paper assesses impact of oil shocks on exchange rates between oil importers and exporters; finds no systematic appreciation pressure on oil exporters following a shock
A sovereign wealth case study from Ghana
Ghana decided to join the ranks of countries with a sovereign wealth fund after the country discovered oil in 2010. Efi Chalamish and Steve Opata describe how the fund operates
IMF research examines impact of China on commodity markets
International Monetary Fund working paper examines impact of aggregate activity in China on commodity markets; finds Chinese activity impacts majorly on oil markets
Iranian central bank escapes Swiss sanctions
Swiss authorities stop short of freezing assets of Central Bank of the Islamic Republic of Iran; note the institution's importance to the country's economy in reaching the decision
Research discusses elasticity of non-oil tax revenues in Trinidad and Tobago
Central Bank of Trinidad and Tobago working paper says future growth of non-oil tax revenue in the country should come from indirect taxes
IMF paper airs inflation fears for US monetary policy
IMF working paper finds continued loose monetary policy can only be maintained if inflation expectations are kept in check
IMF paper discusses strengthening Russia's fiscal framework
Working paper from IMF researchers sets out ways Russian fiscal policy is straying from best practice and suggests improvements
Former Venezuelan central banker joins board of commodities company
PetroMagdalena announces appointment of Central Bank of Venezuela veteran Nelson Ortiz as director
Bank of Japan paper studies currencies and commodities
New research paper from the financial markets department at the Bank of Japan examines the relationship between so-called commodity currencies and commodity prices
Bank of Canada working paper investigates market movers
New research looks into whether central bank communications or media reports impact markets more