Central Banks
Man on a mission: Axel van Nederveen, swaps evangelist
EBRD treasurer spreads the good word about local currency derivatives markets
Audit of Lebanese central bank reveals huge shortfalls
US, UK and Canada place personal sanctions on ex-governor Salameh
China’s new lending slumps to lowest since 2009
Analysts believe PBoC has limited room to cut interest rates amid current yuan weakness
BoE’s RTGS system goes down for nearly six hours
Database problem prevented high-value payment system from opening at usual time
Brazil governor promises to end high-interest rotating credit
Campos Neto tells legislators central bank achieved “soft landing” on monetary policy
Most central banks say they have enough financial stability staff
Some face problems including lack of resources, uncompetitive salaries and complex training needs
Focus is needed on improving central bank forecasts
Charles Goodhart believes tougher action over forecasting errors is preferable to policy-maker performance-related pay
Bank of Mexico holds rates
Board decides not to follow Chile and Brazil’s rate cuts despite falling inflation
Canadian CBDC would not improve inclusion, paper says
Bank of Canada research finds most citizens already have access to e-payments options
US credit card debt passes $1 trillion for the first time
NY Fed says credit is stabilising at pre-pandemic levels despite historic figure
US CPI inflation rises slightly
Rising shelter prices cause more than 90% of increase, but SF Fed predicts they will fall
Too early to declare victory over inflation, says RBA’s Lowe
Outgoing governor warns sticky services inflation could shift Australians’ expectations
BoE paper analyses banks’ forecasting accuracy
Banks with better governance, including more senior women, make better predictions, authors find
Ghana opposition demands governor resign
Parliamentary leader threatens march after Bank of Ghana reports $5.4 billion loss
Italy’s government changes bank windfall tax proposal after outcry
Banking executives criticise plan’s design and say new proposals are still unclear
Fed unveils new crypto supervision programme
Smaller banks need Federal Reserve authorisation before issuing stablecoins and dollar tokens
DRC orders huge policy rate rise at unscheduled meeting
Increase is needed to combat accelerating currency depreciation and inflation, MPC says
RBI holds main rate as food prices drive inflation surge
Indian central bank imposes cash ratio on banks as Das says food-driven shock may be temporary
RBNZ unveils climate stress-test scenario
New Zealand’s largest lenders will be tested on exposure to extreme weather and transition costs
High-frequency traders impose costs on others – BIS paper
Study of dark pools finds HFTs almost never provide liquidity, while raising the cost for all
IMF to make changes to financial assessment programme
Fund says FSAP should focus on smaller financial companies, business models and risk management
China slips into deflation
Risk of Japan-style deflation exists but can be avoided, analyst says
Cuba limits cash transactions and ATM access
Central bank measure provokes scepticism and concern
Shelter inflation set to fall significantly – SF Fed research
“Conservative” model predicts shelter inflation will be 0% in the US by summer 2024