Central Banks
HKMA deputy chief executive to retire early
Hong Kong’s finance secretary will chair a panel to pick a successor through open recruitment
Earnings in upper-middle income economies outstrip high income peers
Financial stability staffing tends to match jurisdiction’s income level
Taking a cue from the top: governor turnover and independence
Central bank governors tend to have long tenures, but what that means can vary. High turnover remains a worrisome signal
Pakistan names new governor
Jameel Ahmad succeeds Reza Baqir after three-month delay
Bank of Jamaica hints rate rises may be ending
MPC increases policy rate 50bp and says 6% may be “appropriate”
Glapiński accuses Germany of wanting to redraw land borders
Polish governor warns on plans for EU super-state as German foreign office calls claims “absurd”
Egyptian president appoints acting governor
Hassan Abdallah replaces Tarek Amer, who resigned abruptly on August 17
Most central banks lack primary oversight of NBFIs
Many institutions capable of regulating non-banks, but just a few solely exercise such powers
Book notes: The Fed unbound, by Lev Menand
Instead of the Fed expanding its tasks to meet shadow banking needs, this book calls for charter-like oversight of NBFIs
Covid hits women in US workforce – Bowman
Fed governor confident about greater employment opportunities for women, despite inflation headwinds
Uruguay continues policy tightening
Policy-makers say inflation and expectations are stubbornly high
Turkish central bank shocks with 100bp rate cut
Rogoff describes move as “nuts”, as official inflation neared 80% in July
Fed issues guidance for banks using crypto assets
Federal Reserve seeks more disclosure from banks holding crypto
Ghana emergency MPC meeting ends with 300bp increase
Country in renewed IMF talks as inflation spirals and currency falters
Philippine central bank raises policy rates by 50bp
The BSP revises upwards average inflation for 2022 to 5.4% from 5%
Norges Bank ups rates by 50bp and signals faster tightening
Inflation is “considerably higher” than projected by the central bank, and well above its 2% target
RBA sets up new panel of private-sector economists
Expert panel will meet at least twice a year; move follows “embarrassing” forecasting issues
A quarter of central banks have insufficient financial stability powers
Some respondent institutions need new powers urgently
Is money growth really the main inflation culprit?
Jakob de Haan and Jan-Egbert Sturm take a closer look at inflation in the eurozone and Switzerland
Netherlands not facing wage-price spiral – DNB
Central bank says there is space to increase negotiated wages in the Dutch economy