Articles by Central Banking Newsdesk
FOMC signals rates likely to stay on hold until 2023
Latest Fed projections say inflation likely to stay below target for several years
People: Shelton unlikely to have enough votes for Fed role
Judy Shelton’s nomination in doubt; Fed appoints new director of monetary affairs; Bermuda Monetary Authority promotes insurance director
New Zealand becomes first country to mandate climate risk disclosures
Several governments are working to enshrine TCFD framework in law
Investment fund sector needs stress tests – Bundesbank paper
Researchers say their model finds investment firms can magnify losses from global asset price shock
EM reserves ‘crucial’ in mitigating Covid-19 outflows, says Mauritius governor
Foreign exchange buffers helped to mitigate volatility in financial markets
BIS research maps out links between banks and non-banks
First attempt at global mapping reveals significant scale of interconnections
Reserve managers weigh options to escape low yields
Longer-duration and emerging-market bonds may offer the way forward to portfolio managers
Estonian governor criticises government’s fiscal stance
Spending was too high before coronavirus, and is making all citizens poorer, argues Madis Müller
Mauritius governor defends central bank’s funding of government
“Unprecedented times” require “unprecedented set of measures” including $1.5bn funding of government, says Harvesh Seegolam
BoE reveals Covid-19 expenditure
Central bank spent over $14,000 a week on additional cleaning
Half of reserve managers use bespoke index benchmarks
Those using external managers can choose bespoke, but public indexes remain predominant
UK regulators extend complaints review after pressure from lawmakers
Outgoing complaints commissioner says proposed changes raise “significant policy issues”
Consumers must be informed of access to cash changes – FCA
FCA warns decisions around closure of cash services must be ‘fair’ to customers
Riksbank starts corporate bond purchases
Swedish central bank will buy $1.1 billion in these bonds until June 30, 2021
Flu pandemic of 1918 hit poor economies hardest – ECB paper
Researchers say evidence indicates lower income countries may be worst hit by Covid-19
Netherlands nominates Frank Elderson to the ECB board
NGFS chair would replace Yves Mersch, whose term expires in December 2020
Bank of Canada looking at inequality, governor says
Monetary policy review is considering impact on wealth and income inequality, says Tiff Macklem
Supply curves may be convex – ECB paper
Findings imply that Phillips curve is convex and fiscal policy is state-dependent, authors say
People: UK regulators appoint new complaints commissioner
Central banks in Madagascar and Barbados get new board members
CFTC report calls for US regulators to take urgent climate action
US should join NGFS, impose carbon price and mandate firms to disclose green risks, report says
Central banks are using biased estimates of pass-through – BIS paper
Standard measures exchange rate pass-through fail to account for market power, researcher argues
BoE’s Stheeman sets out expectations on cyber resilience
Policy-makers will be guided by cyber stress-testing and “impact tolerances”
Central Bank of Brazil launches climate change agenda
Proposals include creation of sustainable liquidity facility and adding climate factors to reserves management
Modellers should not exclude pandemic-era data – ECB paper
Excluding pandemic data from time series would “vastly underestimate uncertainty”, authors argue