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Argentinian central bank raises large banks’ reserve requirements
Central bank in talks with China over credit swap sells over $1 billion this week to defend falling peso
Next financial crisis “will be brewing” in shadow banking – Bullard
Fed has limited powers to tackle Silicon Valley threat to financial stability
Malaysian central bank liberalises forex regime
New governor also signals end to policy of forcing cap on foreign ownership of insurance firms
Quotes
The political spotlight is far harder on central banks now. It is not particularly to do with monetary policy, but to do with whenever you have to take a step in terms of resolving a bank. There will be losers.
Philip Lane, governor, Central Bank of Ireland
Having a reliable institutional mechanism that supports fiscal responsibility will allow attention to focus on whether the central bank is delivering on its mandate, which I welcome.
Brian Wynter, governor, Bank of Jamaica
The countercyclical policies used in the past to accumulate reserves – which rose to one of the highest levels in the world – were to ensure a gradual transition and an effective absorption of any shock.
Ahmed Abdulkarim Alkholifey, governor, Saudi Arabian Monetary Authority
Equilibrium’s a great concept, but the dynamic side has suffered because there aren’t really very good theories on how quickly ideas or events will unfold.
Hal Varian, chief economist, Google
We had to make a decision quickly when we became convinced that the minimum exchange rate was no longer sustainable… We would have been faced with enormous capital inflows and a self-reinforcing speculative attack.
Thomas Jordan, governor, Swiss National Bank
I think [transparency is] a two-way street. If you are more open, you can receive more feedback.
Agustín Carstens, BIS general manager
Editor's choice
James Bullard on 2% rates, tariffs and Fed leadership
St Louis Fed chief on fintech disruption, Fed balance sheet and agent-based modelling
Trendlines
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Comment
Capital markets union a la Willie Sutton
Trump and Erdoğan: cut from the same populist cloth
A mere tweak or a step toward normalisation?
Our Take
New Jamaican law could end Caribbean’s ‘colonial era’
Argentina falters at ‘historic’ moment for BCRA
Time for Central Bank of Argentina independence
BdF paper looks at ‘hawks, doves and swingers’
Atlanta Fed estimates US GDP growth remains above 4%
Norges Bank holds rates as inflation stays below target
Foreign monetary policy affects French and Italian lending – researchers
Tariffs will reduce US exports – New York Fed
Denmark’s exchange rate stable despite greater FDI inflows