Central Banks
Chile cuts monetary policy interest rate to 6.5%
Unanimous decision comes in wake of economic upturn
Polish MPC splits over legal process against governor
Three MPC members call for Glapiński to account for prediction of large NBP surplus
Most central banks have policy independence
But some respondents provide details of pressure they have faced to change policy
AI threatens labour’s share of income, research finds
AI could increase inequality and social unrest, Philadelphia Fed paper argues
BIS project aims to redesign global payments infrastructure
“Most ambitious” innovation hub project to date will test BIS’s “unified ledger” concept
Monetary policy may have counterintuitive housing price effects – research
Researchers from the Dallas Fed say indirect effects may undercut policy’s aims
Digital payments in Saudi Arabia rise to 70% of retail transactions
Transactions processed through national payment systems hit 10.8 billion
MAS launches AML data-sharing platform
Banks can share data on suspicious activities by customers, Singapore’s central bank says
Middle income central banks lag on diversity and green policies
But code of ethics and whistleblower schemes remain common standards
Riksbank asks government for recapitalisation
Governor called for stronger self-financing capacity in January
Nigerian central bank imposes capital levels on lenders
Move comes after MPC calls for renewed efforts to recapitalise banks
BoE plans upgrades to data collection process
Overhaul includes work on validation, communications with firms and common data standards
Two Fed governors say there is no need for rapid rate cuts
Cook and Waller call for caution but welcome some labour market developments
RBA to shift to ‘ample reserves’ operational framework
New approach will be simpler to operate and reduce market volatility risk, assistant governor Kent says
Governors’ salaries tend to rise with country income
Low income developing countries less likely to disclose data
Federal Reserve posts largest operating loss ever
As of March 21, the Fed owed $157.8 billion to an accounting device, a “deferred asset”
Dallas Fed analysis explains puzzle of strong US economy
Authors say US has enjoyed favourable supply-side conditions that others missed out on
Rates round-up: Hungary and Moldova cut rates
Sweden holds rates but lowers inflation forecast
Digital money could boost Pacific island economies – IMF research
Loss of correspondent banking relationships may be offset by digital money infrastructure
PBoC chief urges Asian nations to push for IMF quota reform
Pan Gongsheng says a redistribution of quotas at the IMF is long overdue
‘No frowning’ on banks for discount window borrowing – Fed official
More banks have completed paperwork to access Fed lending facility than a year ago
African central banks most likely to manage sovereign wealth fund
FX reserve management, currency supply remain leading functions in most jurisdictions
BoE says risk of ‘sharp correction’ in asset prices has risen
Drop in asset prices could trigger renewed “dysfunction” in core markets, central bank says
US fiscal stimulus boosted vehicle price pressures – Fed research
Vehicle sales driven by consumer and small business stimulus, say Fed researchers