Central Banks
The evolving ‘strategy function’ in central banks
Some institutions participating in a survey of 27 central banks still struggle to fully harness an effective ‘strategy function’, according to the ECB’s Jean-Charles Sevet and Alejandro de la Cuesta
Foreign banks can reduce harm of ‘doom loop’ – ECB paper
Cross-border banks in eurozone countries soften effects of sovereign stress on credit
Riksbank maintains stimulus as it revises up growth forecasts
Swedish central bank says a return to negative rates is possible if inflation target is imperilled
BIS to operate sterling liquidity facility backed by BoE
Move echoes 20th century arrangements when BIS acted as intermediary in swaps network
Supporting Pacific islands should be ‘strategic priority’ for banks – Orr
RBNZ governor says banks must show ‘courage’ and provide services through good times and bad
Kyrgyz central bank hikes policy rate by 100 basis points
Rising commodity prices and currency worries bring second hike this year
Russian central bank raises rates as inflation climbs
Nabiullina warns that delay would mean that monetary policy would have to become tighter later
Leaked letter says Swiss authorities are investigating Lebanese governor
Riad Salameh is under investigation for allegedly laundering $300 million since 2002, letter says
IMF praises Chile’s Covid-19 response
Fund warns against new withdrawals from pension system
Central banks halt longer-term dollar liquidity auctions
Major central banks will no longer offer dollar liquidity at the 84-day maturity
Macro-prudential tools can boost long-run growth – BoE paper
Authors develop theoretical framework linking financial frictions to long-run growth
Bank of Mexico has no dividend for government
Mexican president had asked for advance from central bank last year
Navigating the hazards of inequalities
Inequality poses a serious challenge for central bank communications, says Mike Hannah
Fed must clarify future of QE, IMF says
IMF warns that rising longer-term Treasury yields could have major impact
Mexican 100-peso note wins international award
Banknote depicting seventeeth-century nun and poet wins International Bank Note Society accolade
Black people in finance face ‘insidious’ racism – FCA official
Sheldon Mills says only 10% of senior figures at UK’s FTSE 100 firms are from ethnic minorities
Ecuadorian lawmakers pass central bank independence law
IMF demanded measure to create autonomous board and bar monetary financing
People: UK’s FCA appoints head of ESG
Burundian senior officials switch roles and senior Vietnamese supervisor is promoted
Curbing booms could cut carbon emissions – BIS paper
Overheating economies can misallocate resources to carbon-heavy industry, authors find
BoE publishes emails showing unsuccessful lobbying by former PM
David Cameron urged BoE to support Greensill Capital during pandemic, correspondence shows
Eurozone’s public debt rose sharply in 2020 – official figures
Public debt in the bloc jumped to 98% of GDP in wake of Covid-19, Eurostat says
Jamaican law increases central bank independence
New act gives rate-setting responsibility to monetary policy committee
ECB makes no change as Lagarde warns of uncertainty
Lagarde says price pressures remain weak and cautions over possible Covid-19 variants
Black applicants face US mortgage discrimination – Philadelphia Fed paper
Lower approval rate cost Black Americans more than $200 billion between 1994 and 2018