Central Banks
People: Israel appoints new chief supervisor
IDB appoints chief operating officer; IADI gets new head; and more
Most central banks have payment and settlement supervision mandates
Payment system laws contain oversight powers in two-thirds of jurisdictions
ECB paper examines green regulation’s productivity impact
Tougher rules seem to hurt productivity, but might raise it over longer horizons, researchers say
‘Stubborn’ inflation puts an end to Canada’s tightening pause
Bank of Canada raises main rate by 25 basis points as it predicts inflation will fall to 3% in the summer
Fed contemplates rate hike or ‘skip’
Top officials indicate the terminal rate is not yet reached – but a pause is possible
Saudi SWF merges golf outfit with US rival
PIF ends legal disputes and becomes a leading power in the sport
Central banks’ pandemic interventions averaged 6% of GDP
IMF paper finds relief measures were three times bigger than in global financial crisis
Payment ecosystems remain relatively unchanged over past year
Most central banks help price RTGS services and many do for credit transfers and direct debits
Governance Benchmarks 2023 – presentation
Subject matter specialist Dan Hardie discusses central banks’ powers, governors, profits and staffing
IMF plays key role in Ukraine aid
Ukraine is first country to receive large loan under new lending standards
AI may demand ‘entirely new’ regulatory approach – IMF’s Gopinath
Deputy managing director says artificial intelligence risks “broad negative effect” on employment
Eurozone consumer inflation expectations down ‘significantly’
ECB data shows median 12 months ahead expectations fell to 4.1% in April
RBA raises interest rate to 11-year high
Governor Philip Lowe signals further rate hikes may be needed
Currency round-up: Lebanon considers new high-denomination notes
South Africa issues upgraded notes; Argentina 2,000 peso enters circulation; and more
Central banks report having one to three RTGS contingency sites
Most central banks experienced a high-value payment system outage in the last year
Rule-setters need to heed their own advice
The US risks a reputation for failing to meet standards to which it holds others
Campos Neto repeats opposition to common currency
Digital payments have outstripped benefits of “very old idea”
RBA bans PwC from new contracts until scandal cleared up
Consultancy firm mired in controversy over leaking Australian government tax plans to clients
Argentina applying to join New Development Bank
China renews 130 billion yuan swap line with Latin American country
Riksbank to investigate year-end distortion in money market rate
Swestr tends to decline in the last business day of the year
Banknotes: April to June 2023
A round-up of news and salient issues that have affected central bankers in the past three months
ISO 20022 payments messaging adoption rate increases
Majority of central banks uphold plans to transition by 2025
To govern well, manage ‘enterprise’ risk
Effective risk management should be governance-oriented and top-down; not operationally oriented and bottom-up, writes John Mendzela
People: April to June 2023
A round-up of central bankers in the news and on the move during the past three months