Central Banks
RBA raises rates 25bp as spending falters
Outlook for household consumption uncertain as effects of tightening start to appear
Central banks most effective in monetary policy communications
All participating central banks monitor media to gauge effectiveness of communications
Central bank negative equity: a risk governance perspective
Janet Cosier explains how risk planning, recapitalisation and transparency are key as central banks incur financial losses
ECB says Hungary has infringed central bank autonomy
Frankfurt says restrictions on bond buying interfere with monetary policy
Argentina orders 1,000bp rate hike as peso struggles
Central bank tightens for second time in a week
Atlanta Fed clarifies contingencies ahead of hurricane season
Outages could affect bank supervision, discount window, cash, cheque and ACH processing
New BoJ governor announces monetary policy review
Bank of Japan keeps ultra-loose policy unchanged at Ueda’s first policy meeting
Email, events and seminars top tools for internal communication
But few central banks have a mobile app for staff communication
Book notes: Money and the rule of law, by Peter Boettke, Alexander Salter and Daniel Smith
A largely US-focused book, which hankers for more robust rules for central banks but isn’t explicit as to what kind
ECB, BoJ, BoE and SNB reduce Fed dollar liquidity operations
Seven-day operations will decrease from daily to once a week
Argentina importing banknotes amid high inflation
Curaçao picks Crane for new currency; Cuba drops visual aids from banknote
BoE’s Pill: UK must accept it’s ‘worse off’
Chief economist says declining terms of trade mean purchasing power must fall
Bahamas SDR law gets parliamentary approval
Opposition claims government wants to legalise use of IMF assets after the fact
BSP governor warns against cutting rates faster than the Fed
Medalla’s comment follows central bank’s recent move to support the peso
Most AE central banks split internal and external communications
But those in emerging market economies tend to assign the tasks to a single team
Climate change and the role for central banks
Gavin Bingham, Andrew Large and Paul Fisher explain how climate change affects central banks and the competing tensions it raises in relation to policy responses