Central Banks
Atlanta Fed revises growth estimate downward
This quarter has the possibility of officially beginning a US recession
IMF blog highlights rise of ‘non-traditional’ reserve currencies
Renminbi only accounts for a quarter of the shift away from dollars
Central banks and UN working to improve remittance data
Flows are critical income sources for many economies, but data is often limited
Rates round-up: RBI adds 50bp to main rate
Chile announces eighth rate hike; Thai PM reveals rate hold early; and more
Sovereign green bonds: the reserve portfolio’s panacea?
German, Swedish, Danish and UK debt managers speak to Victor Mendez-Barreira about ‘twin bonds’ and other efforts to solve green bond liquidity concerns
Fed paper argues capitalism killed the Phillips curve
Shift in the balance of power between capital and labour likely to hold down inflation, authors find
Fed’s Waller joins chorus of concern over crypto
Growing number of central bankers now talking about crypto regulation
People: Skingsley to head BIS Innovation Hub
New deputy governor in Philippines; BIS names new Asia-Pacific rep; and more
Eurosystem’s bond holdings may hamper market functioning – paper
Asset scarcity caused by Covid-19 emergency programme has lowered repo rates, researchers say
Few central banks offer free RTGS transactions
Most central banks use a mix of fixed and variable fees to recoup RTGS operating costs
Reserve Bank of Australia joins 50bp club
Australian central bank continues post-pandemic tightening with second, larger hike
Ukrainian debt holders brace for restructure
Investors could see a 40% haircut on the bonds, though final figure will depend on complex talks
Ukrainian central bank hikes rates and warns of rising financial risks
NBU says fall in yields on hryvnia-denominated assets may lead to dollarisation
West African leaders name new central bank governor
Previous governor departed in April, leaving interim leadership unclear
Swiss central bank defends board structure
Think-tank suggested governing board was “susceptible to group think” in April report
Round-the-clock RTGS operation still uncommon
Most central banks keep core settlement system running for 7–12 hours each day
What is the right size for a central bank board?
There is greater consensus for smaller boards in theory than in practice
Tougher macro-pru helps response to major storms – BdF paper
Better regulation greatly reduces costs of financing after some natural disasters, researchers find
Israeli sovereign wealth fund launches after years of delay
Government finally accrued required tax revenues from gas and mining sectors
BoE paper examines microstructure of UK banking system
Authors stitch together supervisory datasets to study likelihood of crisis
Peter Nicholl on rebuilding Bosnia’s central bank
The former RBNZ deputy governor speaks with Dan Hardie about how he tackled financial instability in the aftermath of a war