Central Banks
Brazilian central bank cuts rate by 50bp again
Third consecutive 50bp rate cut enjoys unanimous support
Bank of England holds rates in second split decision
UK faces two years of above-target inflation and near-zero growth, forecasts the BoE
Hong Kong and Thailand to set up cross-border payments link
New QR code payment link is the latest addition to similar initiatives in the region
‘Conceptual complexity’ has risen in BoE publications, research finds
Conceptual complexity plays central role in expectations, understanding and trust, authors find
Malaysian central bank holds rate
Inflation in Malaysia has slowed but the ringgit is under pressure
AI could trigger explosive growth – and crush labour’s share
Past research may underestimate AI’s ‘transformative’ potential, economists say
Fewer than 100 staff work in currency divisions on average
Duties including upholding Covid-19 countermeasures in some jurisdictions
Fed holds rates steady again
Powell said the question the committee is asking is should it hike rates more
Cipollone joins ECB board
Italian economist succeeds Panetta, who takes over the Bank of Italy
People: New governor in Sierra Leone
Brazilian president nominates two new central bank directors; new head of statistics at ECB; and more
MAS tests upgraded unified QR code system
New code could allow merchants to accept different QR payment methods more easily
China vows long-term strategy to resolve local debt risks
Officials stress need to strengthen Communist party control over China’s financial sector
Average value of counterfeit banknotes rises
UV ink the most common security tool used in battle against fake banknotes
Fiscal policy may complicate fight against inflation, says Macklem
Bank of Canada governor warns projected spending may ‘not be helpful’ for monetary policy
Claudio Borio on financial cycles, operating frameworks and non-bank reform
The BIS veteran highlights a ‘unique constellation’ of challenges as central banks travel the ‘last mile’ in bringing down inflation – and says there are many more miles to go on non-bank reform
Ex-governor backs candidate who wants to abolish BCRA
Guido Sandleris says ‘continuity of Kirchnerism’ would be worse for Argentina
SNB cuts interest payments amid losses
Swiss central bank lost over Sfr12 billion in Q3
Book notes: The economic government of the world 1933–2023, by Martin Daunton
A deep dive into the politics, personalities, trade theory and trade practice of the era, but missing a crucial element: the collapse in the US stock of money
BoJ scraps rigid bond yield cap
Central bank further loosens YCC, ends daily bond buys and raises inflation forecasts
Polymer adoption stalls in 2023
Only two benchmark respondents have concrete plans to change substrate
Zimbabwe cuts policy rate to 130%
Reserve Bank reduces rate by 2,000bp as inflation eases, according to official figures
Court grants Evergrande five more weeks to avert liquidation
Hong Kong court gives Chinese developer until December 4 to revise restructuring plan
Former executives of troubled lender wanted by Vietnam police
Central bank is looking for investors to acquire failed Saigon Commercial Bank