Central Banks
RBA trims inflation projections on low wage growth
Weaker outlook leads RBA to cut CPI forecasts to 1.75% in December 2018 from 2.25%
RBNZ HQ closes for three months after renewed asbestos scare
Around 200 RBNZ employees are again displaced from the Wellington office, following a similar evacuation in May
Trade uncertainty keeps Bank of Mexico on hold
Central bank leaves interest rates at 7.75%; revises up inflation expectations
Philippines central bank makes biggest hike of 2018
Central bank raises interest rates by 50bp on the back of mounting inflation pressures
Standard-setters update analysis of CCP network
Basel-based organisations find network has only shifted somewhat in the past year
Eurozone mortgage lending back to pre-crisis levels – ECB
New loans reached 4.5% of GDP in the year to March 2018; average since 2001 is 4.4%
Strong US economy reduces risks from normalisation – Barkin
Richmond Fed president points out consumers are increasingly concerned about tariffs
Turkish lira plunges again amid looming sanctions
Finance ministry to unveil ‘new economic model’, as central bank struggles to support the currency and officials seek to avoid fresh US sanctions
Big data in central banks focus report 2018
The third Central Banking big data focus report delves further into recent trends as central banks grapple with the question of upgrading their approaches to data
Data handling – A rethink
Official institutions are maturing as big data users but there is plenty more work to be done.
Barbados hands GDP baton to statistical agency
Central bank will abide by international best practice and use statistical service estimates
No rate hike likely until 2020, says RBNZ’s Orr
Central bank leaves interest rates on hold as concerns around growth and inflation emerge
Argentina creates new monetary policy committee
Central bank leaves rates unchanged on high inflation pressures
Saudi investment fund boosts technology portfolio
The fund has reportedly acquired 3-5% of US electric car maker Tesla
Right-wing commentator appointed to RBI board
Swaminathan Gurumurthy has been critical of the RBI in the past
People: China names new vice-governor
China appoints Liu Guoqiang as vice-governor; MAS establishes governance council, Ireland’s central bank gets new director for supervision; and more
Kenyan banks forced to reveal hidden loan fees
Kenya’s central bank begins effort to repeal interest rate cap
Australia’s labour market is tightening, governor says
Australia’s labour market is tightening, governor says, but higher wages are only evident in ‘certain pockets’ of the market
US could lose a third of growth to climate change – Richmond Fed article
Authors warn economic damage could be much more widespread than typically assumed