Central Banks
Bank of Thailand holds main rate in split vote
Growth forecast dives again as Thailand battles Covid-19 surge
Central banks’ payments operations staffed more than oversight function
Advanced economies tend to have higher staff numbers in both functions
‘Unstable, unreliable and temporary’: paper explores global co-operation
Policy-makers should heed JM Keynes’ 1919 warning, say Michael Bordo and Catherine Schenk
Spain’s interior vulnerable to loss of cash access – Bank of Spain
Rural areas have older populations and rely more on cash, but banks are closing branches
ECCB extends digital cash to St Vincent
CBDC pilot expanded to fifth country as it struggles with aftermath of volcanic eruption
Why diversity matters for economic policy
The head of the Cleveland Fed's new Program for Economic Inclusion, Dionissi Aliprantis, explains why diversity should be an important factor in the US central bank's decision-making
Criteria for systemically important payment infrastructure differs
Thirty-one out of 37 central banks said they designate systemically important payment infrastructure
Fed reverse repo demand tops $1 trillion
New York Fed facility sets latest in series of record volumes
RBNZ to tighten loan limits as house prices continue to rise
Tougher loan-to-value limits could be followed by rate floors or debt service limits
FCA mulls removing decision-making powers from senior committee
Decisions regarding firms failing to meet FCA standards would be taken by FCA staff instead
IMF governing board signs off on ‘historic’ SDR allocation
Decision paves way for $650 billion worldwide infusion of liquidity later this month; mechanism for rich countries to pass on their share still unclear
Moldova raises interest rates 100bp
Central bank cites “persistent” inflationary pressures, though rate is below target
PBoC to support green finance with low-cost funding
Bank says it will extend its tougher regulation of crypto assets
Podcast: Why forward guidance needs guidance
Richard Barwell, head of macro research at BNP Paribas Asset Management, discusses the limitations of forward guidance and what central banks must do to improve their communications
Oversight functions stifled by lack of resources, some central banks say
Skills and resources were identified as limiting factors, as well as the challenges of a recently formed oversight function
The IMF’s $650bn SDR allocation and a future ‘digital SDR’
Focus is needed on widening SDR use in payments and the creation of a ‘digital SDR’, to support a large allocation of ‘official’ IMF SDRs, writes Warren Coats
Brainard reiterates that inflation is ‘transitory’
Fed board member speaks after PCE inflation figure of 4% released
Eurozone inflation up to 2.2% in July
Germany records 3.1% inflation rate, France 1.6%, Italy 0.9%
ECB stress test highlights importance of credit risk
Mid-sized banks suffer higher capital depletion due to lower income from interest and fees
Disclosures and taxonomies vital for climate risk understanding – RBNZ official
Central banks also need to ensure staff are skilled in climate risk
Liberia’s central bank expands monetary policy committee
Governor and deputy governor reappointed
SNB reserves hit Sfr1 trillion
Equity holdings now account for 23% of the portfolio