Central Banks
Zimbabwe’s government replaces central bank MPC
Finance minister changes entire MPC as academic observer dismisses inflation target as “fantasy”
Adding QE can fix New Keynesian models – BoE paper
“Mild adjustments” to balance sheet are enough to avoid paradoxical results, authors find
Bank of Israel maintains stimulus despite rapid vaccination
GDP shrank by 2.4% in 2020, less than previously forecast
Carney takes job on Stripe board
Former BoE governor adds role at fintech firm to growing portfolio of positions
Ugandan governor given fifth term following national election
Uncertainty surrounds timing of Mutebile’s return to office, as deputy steps in at latest MPC meeting
Kenneth Montgomery on the Fed’s progress with instant payments
The FedNow project leader explains how the US will develop ubiquitous, real-time payments
IMF chief economist has ‘no concerns’ over inflation in US
Biden plan likely to cause 2.25% inflation, within Fed’s framework, Gopinath says
Saudi Arabia to launch instant payment system in days
New system will go live following successful pilot with Saudi banks – Sama
Norges Bank’s policy space ‘almost exhausted’ – governor
Norwegian governor warns public spending is increasingly dependent on sovereign wealth fund
Singaporean government names new SWF head
Chief of Temasek’s investment arm to take top role as Ho prepares to end nearly 18 years in charge
Kenya’s central bank transfers $45.6m to government
IMF approves pause in fiscal tightening as Kenyan authorities deal with impact of pandemic
Brainard sets out Fed’s approach to climate risk
Fed board member sets out agenda similar to that of other major central banks
Paper presents real-time bank stress measurement tool
Bank of Italy paper can measure deposit flows using RTGS data, researcher says
Bolivian central bank repays ‘unconstitutional’ IMF loan
Central bank says loan was illegal and threatens legal action against officials responsible
ECB profit falls by 30% in 2020
Decrease is mainly due to lower Treasury yields reducing income on dollar portfolio
SNB should adopt higher inflation target, report says
Senior economists recommend the Swiss National Bank reviews its policy strategy
New Nicaragua law may isolate local banks
Law could require domestic banks to maintain accounts of people under sanctions
Bank Indonesia resumes monetary easing
Central bank commits to further government bond purchases on the primary market
Book notes: Asset management at central banks and monetary authorities, edited by Jacob Bjorheim
This excellent book fills a critical gap existing since IMF guidelines on asset management were revised