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Daily Archives: May 15, 2013

Hitting the limits of "outside the box" thinking? Monetary policy in the crisis and beyond

Hitting the limits of “outside the box” thinking? Monetary policy in the crisis and beyond. Speech by Jaime Caruana, General Manager of the Bank for International Settlements, to OMFIF (Golden Series Lecture), London, 16 May 2013.

  • “Central banks have had to “think outside the box” to address unprecedented financial instability and to provide monetary stimulus in trying times. Monetary accommodation has been critical to stabilise the financial system and the economy. But questions remain about the efficacy of such policies as long as balance sheets and structural headwinds are not more fully addressed. Monetary accommodation can only be as helpful as the balance sheet, fiscal and structural policies that accompany it. Looking ahead, central banks will continue to face daunting challenges as they navigate in uncharted waters, including how best to integrate new perspectives on the financial cycle and global spillovers into their monetary policy frameworks.”
  • Related postings on financial system
  • New on GAO – Defense Headquarters, Financial Audit, Strategic Sourcing

    Defense Headquarters – DOD Needs to Periodically Review and Improve Visibility Of Combatant Commands’ Resources, GAO-13-293, May 15, 2013 Strategic Sourcing – Financial Audit – Congressional Award Foundation’s Fiscal Years 2012 and 2011 Financial Statements, GAO-13-554, May 15, 2013 Strategic Sourcing – Leading Commercial Practices Can Help Federal Agencies – Increase Savings When Acquiring Services,… Continue Reading

    NOAA – April temperatures were coolest since 1997

    April was cool, wet and had more snow on the ground for the contiguous U.S.; April temperatures were coolest since 1997 “The April average temperature for the contiguous U.S. was 49.7°F, which was 1.4°F below the 20th century average. April 2013 ranked as the 23rd coolest such month on record and marked the coolest April… Continue Reading

    Updated Edition of Benchbook Now Available

    US Courts: “The 6th edition of the Benchbook for U.S. District Court Judges, a publication of the Federal Judicial Center, is now available online. The book, last updated in 2007, is a concise and practical guide to situations federal judges are likely to encounter on the bench. The Benchbook covers procedures that are required by… Continue Reading

    BIS – Consumer Inflation Expectations in Turkey

    Consumer Inflation Expectations in Turkey. IFC Working Papers No 10, May 2013 “The expectations obtained from surveys play an important role as leading indicators for the application of the monetary policies. The ability to measure inflation expectations is an integral part of central bank policy especially for central banks that are implementing inflation-targeting regime. A… Continue Reading

    NTSB – Safety Report on Eliminating Impaired Driving

    “On May 14, 2013, the 25th anniversary of our nation’s deadliest drunk-driving crash, which killed 24 children and three adults in Carrollton, Ky., the NTSB’s five-member board voted unanimously to issue bold recommendations to help the United States reach zero and eliminate alcohol-impaired driving. Bold steps are needed: On average, every hour, one person dies… Continue Reading

    CDC – Sleep and Sleep Disorders

    CDC- Sleep and Sleeping Disorders: “Insufficient sleep is associated with a number of chronic diseases and conditions—such as diabetes, cardiovascular disease, obesity, and depression—which threaten our nation’s health. Notably, insufficient sleep is associated with the onset of these diseases and also poses important implications for their management and outcome. Moreover, insufficient sleep is responsible for… Continue Reading

    Data Journalism: GIJN’s Global Guide to Resources

    Global Investigative Journalism Network: Global Guide to Resources, by Kate Willson “As our governments and businesses become increasingly flush with information, more and bigger data are becoming available from across the globe. Increasingly, investigative reporters need to know how to obtain, clean, and analyze “structured information” in this digital world. Otherwise, they and the news… Continue Reading