Central Banks
DNB paper examines robustness of monetary policy
Policy must avoid tail risks caused by central banks’ uncertainty over output gap, researchers argue
Digital money could strain global financial safety net – IMF paper
Economies with existing vulnerabilities are more exposed to impact of digital money, authors say
Major Chinese shadow bank files for bankruptcy
Zhongzhi Enterprise Group’s $36.5 billion shortfall raises fears of contagion from property downturn
Philippines could cut rates by 100bp this year, says minister
Benjamin Diokno’s comments contrast with governor’s December assessment of future inflation
The risks facing the Chinese economy
China isn’t at risk of a financial meltdown, but it does face a slow puncture, writes Michael Taylor
ECB paper examines largest currency areas’ policy spillovers
Researchers study how foreign monetary policy shocks affect US, eurozone and Japan
Vietnam unlikely to raise rates this year, deputy governor says
Central bank may extend debt rescheduling as government demands higher credit growth
Philippine central bank will cut FX interventions, governor says
“We’ve been intervening a bit too much”, Remolona says, as officials work on new framework
Russian and Iran central banks increase co-operation
Sanctioned countries agree to use own currencies for trade as lenders set up credit line
Inflation rises in Germany and France
German statistical office says energy price rise partly driven by base effects from earlier subsidy
BIS paper explores interaction of macro-pru and capital controls
Macro-prudential policy can “leak” at higher levels of financial development, authors find
First woman appointed as Bosnian central bank governor
Years of deadlock end after politicians agree to Jasmina Selimović’s appointment
Leaders are key to adopting technology, RBA study finds
Australian firms use GPT better if executives have tech background or are female, research says
PBoC ramps up funding support for policy banks
Biggest monthly increase for cheap loan funding in over a year likely to target property sector
Book notes: We need to talk about inflation, by Stephen King
A short, sensible book that highlights key issues – and might make a good, belated Christmas gift!
Eurozone inflation affects fiscal policy, ECB paper finds
Authors say there is evidence of “turning point” for inflation’s impact on primary fiscal balances
Belgian governor gets temporary extension to time in office
Central bank council “deeply regrets” government’s failure to agree on reappointing Wunsch
Indian financial sector is resilient despite lower capital ratios – RBI
Banks pass stress tests, but RBI warns of decline in capital ratios and problems at some non-banks
MAS fines Credit Suisse S$3.9 million over misconduct
Relationship managers made false statements to clients over bond trades, says regulator