Central Banks
Local banks key to mitigating climate-related risks – BDE paper
Study finds “outsider” banks less responsive to needs of companies affected by wildfires
Legislation needed to break non-bank deadlock – BIS’s Borio
Panellists at BoE event highlight array of shortcomings with regulatory framework
Bundesbank and DNB announce large losses
Dutch central bank improves its profit forecast but Nagel anticipates continuing shortfalls
Philippine central bank launches sustainable finance taxonomy
BSP is Asia’s latest monetary authority to set out framework to help tackle climate crisis
Regtech strategy still lacking in majority of central banks
Stress testing, AML/CFT risk and reporting are top areas of application
RBA names Susan Woods as first chief operating officer
Independent review called for COO role to give senior officials more time for policy matters
Pandemic inflation fuelled by food and energy prices – BoJ study
Inflation in Japan and US driven by similar product market shocks, research finds
Politicians must be able to overrule RBA, say ex-governors
Ian Macfarlane and Bernie Fraser argue government should retain veto over Australian monetary policy
ECB suffers first loss in two decades as rate risk bites
Loss takes €7 billion chunk out of central bank’s equity
Suptech strategy adoption remains below 50%
Resource constraints and data quality issues are still barriers
Book notes: The ruble: a political history, by Ekaterina Pravilova
Indispensable reading for anyone interested in Russia and comparative, long-term historical accounts of monetary ideologies and practice
Monetary policy more effective when inflation is high – NY Fed
Study casts doubts on linear models that average out impact during periods of high and low inflation
RBI challenges IMF’s call for larger fiscal consolidation
Study argues bigger budget cuts not necessary if government focuses on development spending
BoE’s Dhingra says restrictive policy risks ‘scarring’ economy
MPC member warns that focusing on pay and services inflation could lead to “overtightening”
CBDCs may require hard limits, Netherlands Bank paper finds
Study says digital currencies could make people better off if transitions are well-managed
South Korean and Indonesian central banks hold rates
BoK says policy will remain restrictive for now, while BI highlights need to keep inflation stable
Nearly all central banks see CBDC as environmentally friendly
Few jurisdictions see initiative as comparable to banknotes’ lifecycle
Banking deserts increase in ‘majority-minority’ areas of US
Dearth of facilities disproportionately affects non-white citizens and people with disabilities
Carbon price has only ‘modest’ impact on inflation – IMF paper
Countries could use drop in energy prices to deliver on climate goals, authors say
Global house prices close to bottoming out, BIS stats show
Economists puzzle over absence of sharper correction
Thai PM calls for emergency central bank meeting to cut rates
BoT governor appears unswayed by call for monetary policy committee to meet ahead of schedule
Central banks fear CBDC will heighten cyber threats
European jurisdictions less likely to be deterred by security concerns
US CBDC ‘could enhance dollar’s international role’
Fed research claims issuing digital currency could increase demand for dollars more generally
Inflation memories pass from parents to children – research
Fear of hyperinflation influences behaviour across generational divides