Central Banks
RBI faces dilemma from US policy spillovers – BIS paper
Authors highlight evidence of “contractionary devaluation” when US monetary policy tightens
Chinese CBDC could bolster renminbi internationalisation – Hui Feng
Academic believes digital currency efforts could facilitate renminbi’s international acceptance and ‘popularity’
Danish central bank may tighten house lending rules
National Bank of Denmark recommends that FSA reimpose countercyclical buffers
Fed’s Quarles says time is coming for taper talk
St Louis Fed’s Bullard says it is “too early” to talk of tapering asset purchases
Inequality can worsen recessions – BIS paper
But authors say there is little evidence that income inequality affects consumption in normal times
Bolivian central bank to buy local gold
Government initiative aims to prevent smuggling
Formal strategy committees remain relatively rare
Boards of directors are widely used but specialist oversight committees are less common
Considerations for investing in emerging market debt
Luther Bryan Carter and Michael Cross delve into common considerations for central banks looking at emerging market debt
A return of the inflation monster?
Fears grow over the intellectual shift to running economies ‘hot’
ECB should adopt symmetric 2% target with AIT – US economist
Academics say ECB’s new policy framework needs to react more quickly to inflation changes
Time series models need adapting for Covid-19 shock – ECB paper
Authors explain methods for making Phillips curves and VAR models more robust
MAS partners with financial inclusion foundation on digital currency system
Central bank officials will sit on the Mojaloop Foundation’s management boards
Central bank mandates differ between advanced and emerging economies
Emerging economy central banks more likely to have financial stability mandate
Should the Fed’s Fima facility be made permanent?
Emergency repo facility reassures reserve managers about access to cash during breakdown in US Treasuries market
People: Erdoğan fires deputy governor
South Korea appoints new sovereign wealth fund chief; Fed lawyer moves to OCC; and more
Communication needs to be adapted for different audiences – RBA research
Producing information in different formats may improve success of economic communication
Leading Republican alleges Fed overreach on race
Toomey writes to regional Feds about “recent, intense interest in ‘racial justice’ activism”
Tunisian governor warns IMF aid is needed to stop ‘explosion’
Abassi tells lawmakers to accept tough reforms or face “Venezuelan scenario”
EBA finds ‘big differences’ in use of EU green taxonomy
Risk-mapping exercise finds average “green asset ratio” of 8%
Firms are ‘inattentive’ to inflation and monetary policy – NBER paper
Authors present new survey data indicating firms’ expectations are “anything but anchored”
Central banks take different routes to financial stability
Some give ultimate authority to governors but others use committees
Bahrain accuses Iranian central bank of money laundering
Prosecutors allege Iranian officials were involved in laundering around $1.3 billion to dodge sanctions