Oil
Central Asian currencies under threat as Azerbaijan abandons peg
The Central Bank of Azerbaijan’s decision to drop its dollar peg and move to target a basket could have knock-on effects throughout the region, where currencies are already under pressure
Canadian economy may have more slack than headline figures suggest, says senior deputy
Bank of Canada's Carolyn Wilkins says measures of labour market slack show ‘greater unused capacity' than broader indicators
National Bank of Angola to ‘coerce’ banks into parting with their dollars
Angola’s central bank will intervene when banks deny dollars to their customers, in the face of a shortage of foreign currency due to plunging oil prices
Sama governor calls for subsidy cuts
Fahad Al-Mubarak says the Saudi Arabian economy is being hampered by various inefficiencies, including excessive subsidies on energy and water
Prasarn dismisses threat of deflation as headline rate goes negative
Thai governor pens letter to finance minister after headline inflation falls to -0.4% in January; IMF sees ‘scope for further easing' as two MPC members dissent on rate hold
IMF backs Canada cut despite overvalued housing
Fund says central bank's decision to lower rates for first time in four years is ‘in line with staff advice'; says housing market overvalued by up to 20%
Energy producers should lower interest rates following drop in oil prices, suggests Norges Bank paper
Given spillovers to rest of economy, optimal policy calls for a reduction in interest rates, finds study; central banks face ‘trade-off' between stabilising inflation and closing output gap
Belgian research examines policy response to oil price shocks
To curb the wealth-shifting effect of oil price shocks ‘optimal policy calls for a large but short-lived increase in the real interest rate’
Canada cuts rate for ‘insurance’ against oil price drop
Stephen Poloz says the fall in oil prices in ‘unambiguously negative’ for the Canadian economy as central bank unveils first rate change in over four years
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