Central Banks
Philippine central bank holds rates and cuts inflation forecast
BSP governor signals possible August rate but refuses to comment on board member allegations
Half of central banks regularly review monetary framework
Vast majority conduct reviews but many are ad hoc
Payments Benchmarks 2024 – model banks analysis
Breakdowns of key data from the payments benchmark shed light on how the function is governed
Economists explore 200 years of data on sovereign defaults
“Serial restructurings” are on the rise, with investors taking an average haircut of 45%
Bank and non-bank links pose systemic risk, NY Fed warns
Researchers find interdependence between the two sectors is growing
Removing discount window stigma is difficult – NY Fed
Authors recommend creating a new facility and mandating regular usage
Luxembourg governor becomes victim of deepfake attack
German dialogue and unnatural mouth movements reveal fraud
Morocco cuts interest rates after a year of holding
Inflation now below 1% due to lower food prices and tighter monetary policy
Transitioning to renewables could reduce shock impact – research
Authors say Brazilian economy may serve as a model in the clean energy transition
Most asset purchase programmes are winding down
Around a quarter of respondents have open APPs but most are shrinking
Monetary policy-makers should track bubbles – Dallas Fed paper
Economists warn of possible ‘explosive bubbles’ and evaporating wealth
IMF releases $1.1bn to Bangladesh
Fund calls for tight policy to bring down inflation
Build up CCyB gradually over financial cycle, says ECB paper
Even partially built-up buffers help during a shock, researchers argue
BIS predicts AI will be inflationary in long term
Expects accelerated inflation dynamics as firms adjust prices in response to shocks
Seven island central banks sign green finance roadmap
Central banks agree to boost efforts on knowledge exchange and resource sharing
Over 25% of central banks pre-brief government on policy decisions
Briefing patterns differ across institutions, as two central banks start practice
Digital euro ‘may require’ battery-powered cards for offline use
Eurosystem could develop its own app to manage digital euro accounts
Laotian central bank raises rates amid high inflation
Inflation in Laos has been above 20% due to weak local currency
People: Sri Lanka appoints two new deputy governors
Nithya Navaratnam named deputy head of BIS banking department
Japan ready to intervene in FX markets, finance ministry says
Top currency official issues warning as yen hits 34-year low against dollar
One-third of central banks offer liquidity to non-banks
But most keep the list of counterparties strictly limited
MNB posts historic $4.74 billion loss in 2023
Central bank act amendment precludes immediate recapitalisation