Central Banks
IMF’s Adrian on the systemic threat posed by a ‘weak tail’ of financial institutions
The IMF’s financial counsellor speaks to Christopher Jeffery about bank runs and emergency interventions, market and oversight failings, and the need for action on run rate assumptions, interest rate risk, deposit insurance, crypto regulation and a ‘weak…
US CPI inflation slows to two-year low
Shelter costs contribute to sticky core inflation, but headline CPI comes in below expectations
Central banks have ‘long way to go’ on gender equality – IMF paper
“Multidimensional survey” finds eight major central banks are unequal on many metrics
China appoints Li Yunze to head new financial regulator
Li is set to supervise most of China’s financial industry
Around half of communications staff hold master’s degree or above
Over 40% of staff were hired with a communications degree on average
Advanced economies face slowdown and stubborn inflation
Jagjit Chadha analyses the shifting outlook for the world economy, with more hard work ahead for central banks
Defaults, reduced growth and less lending ahead, Fed says
Recent bank failures were caused by poor risk management, report finds
Eurozone interest rates should increase further, says Nagel
Bundesbank president stresses ECB will start reducing balance sheet at a faster pace from July
French magistrates will charge Lebanese governor, report says
Investigators questioned Salameh’s brother over embezzlement and money laundering claims
Brazil’s president selects ally for central bank board
Lula has repeatedly attacked central bank independence as well as the governor
China and Hong Kong set to launch Swap Connect
New trading link will make it easier for foreign investors to hedge interest rate risks
Riksbank makes mistake publishing policy minutes
Swedish central bank says it takes the incident seriously and will strengthen procedures and controls
Non-banks key to ‘absorbing’ sovereign debt – BIS paper
New database of key players in sovereign debt markets reveals EME reliance on non-banks
Most people visit central banks’ websites via search engines
Clicks on social media platforms drive around 7% of traffic to central banks’ websites
Macro-pru helps dampen global shocks – BIS paper
Authors find capital controls are less effective than prudential tools at offsetting shocks
Most central banks give background briefings on key initiatives to journalists
Practice is dominant across central banks from advanced and emerging economies
Another financial crisis hiding in plain sight
Steve Kamin analyses how the risks that sank SVB were plain enough to those who looked for them
Book notes: States and the masters of capital, by Quentin Bruneau
Chronicling the practices and players involved in privately financed sovereign debt
World Bank board elects Ajay Banga president
Former Citigroup and Mastercard executive succeeds controversial Malpass
Colombia hikes rates in split decision
Meeting was last for finance minister Ocampo, who lost job in reshuffle
Norges Bank increases rates by 25bp
Norwegian central bank says weaker exchange rate may require higher rates than expected
NBER paper proposes ‘resurrecting’ non-linear Phillips curve
Original version of the curve is “strongly non-linear” and helps explain current inflation, authors say