Central Banks
Central Bank of Egypt governor resigns
Amer joins presidential staff amid inflation and currency crises
Housing affordability dropping across the US
Fed’s large rate hikes and constrained housing supply create tough market for buyers
Ecuador government will not recognise new superintendent of banks
Legislature and government clash as courts disagree on legality of appointment process
RBNZ delivers fourth straight 50bp rate hike
New Zealand’s central bank now expects rate to peak 15bp higher, at 4.1%
Middle income countries more likely to report rising NPL levels
Most high income respondents say NPL levels have fallen in last five years
Fed paper explores information problems in financial panics
Tight liquidity can cause investors’ beliefs to become “systematically divorced from fundamentals”
US academics praise reduction in Fed’s forward guidance
Central bank seeking to keep its options open on the path for monetary policy
Long-term data can shed light on current inflation – NBER paper
Authors suggest first half of 20th century has clearer parallel to current inflation than 1970s
Campos Neto predicts end of credit cards
Brazil governor says Pix will be model for region’s payment systems
Central banks should ‘overestimate’ inflation persistence, says economist
Academic argues central banks should act as if exogenous shocks are likely to be persistent
Banking resolutions are rare events in most countries
Two jurisdictions account for 77.9% of resolutions reported by sample
The PBoC, real estate debt and financial stability in China
Central bank policy-makers are restricted in terms of capacity and space by their efforts to manage the nation’s property bubble amid declining growth
RBI’s Patra envisages India as ‘economic superpower’
India has chance to achieve “escape velocity” from emerging market status, deputy says
ECB rate hikes could damage climate change policies, paper finds
Researchers claim tighter financing conditions will hamper transition to capital-intensive green technologies
Rates round-up: Argentina adds 950bp to main rate
Central banks in Argentina, Peru, Rwanda, Serbia and Uganda tighten policy
Firms use supply chains to predict inflation – IMF paper
Authors find expectation formation diverges from rational expectations hypothesis
Critics accuse Barbados authorities of monetary financing
Government says it is using SDRs to buy bonds, while governor says purchases are legal
China cuts key interest rates as growth weakens
Analysts lower China’s annual GDP growth estimate to around 4%
Reserve requirements most commonly used macro-pru tool
Responses show differences in measures favoured by high and middle income economies
Ukraine’s wartime economy faces possible crisis
Foreign donors must increase financing of Ukrainian government, NBU ex-governor and current government adviser argue
Fed’s Evans charts path for rates
Chicago Fed president is optimistic inflation will be near 2% next year
Bank of Mexico increases interest rates by 75 basis points
Central bank once more revises up inflation projections