Central Banks
Gulf central banks raise rates after Fed hike
Qatar, UAE and Bahrain make 75bp hikes, while Kuwait raises by 25bp and Saudi 50bp
BoE opts for 25bp hike as growth disappoints
Weakening economy and high inflation leave policy-makers divided
Nearly 30% of central banks implementing instant payments
Over half of respondents already oversee or operate instant payments
Understanding informal remittances
Better tracking of remittance flows could give central banks valuable insights to support policy, say Deepali Fernandes, Amil Aneja and Azar Sultanov
People: April to June 2022
A round-up of central bankers in the news and on the move during the past three months
Fed meets inflation surge with 75bp hike
Unexpected spike in inflation and expectations spurs committee into rare policy aggression
ECB emergency meeting pledges sovereign bond support
Governing council says eurozone will accelerate efforts to create “anti-fragmentation mechanism”
Basel Committee launches principles for climate supervision
Guidance for banks and supervisors designed to create “common baseline” for tackling risks
Chile’s Marcel stresses importance of trust
Former central bank governor warns monetary and fiscal policies will diverge
Central bank gold purchases back in positive territory
War and inflation appear to be supporting demand for the reserve asset
The signal and the noise: cash forecasting in uncertain times
From big data tools to Arima models and structural time series, cash forecasting methods are evolving. The work could prove critical to the future of cash during uncertain times
High income countries have larger share of staff devoted to payments
Structure of central banks’ payments sections differs across institutions
ECB paper argues for existence of ‘liquidity coverage channel’
Researchers analyse impact of eurozone central banks’ actions after onset of Covid-19 pandemic
Three QE controversies, two theories
BNP Paribas Asset Management‘s head of macro research, Richard Barwell, explores three controversies surrounding quantitative easing through the lens of the quantities and signals theories, and considers whether all asset purchase programmes should be…
RBNZ’s Orr says ‘Te Ao Māori strategy’ is boosting inclusion
Governor says RBNZ was “late” in tackling issues faced by Māori, but is now making progress
Bank of Japan boosts bond interventions
Yield curve control policy still under pressure
Rates round-up: Peru, Poland and Serbia tighten policy
Moldovan central bank faces commission of inquiry; Uzbekistan partially unwinds earlier hike
US inflation expectations inch higher
New York Fed survey finds rise in expectations at one-year horizon, but not at longer term
Payments oversight more difficult in poorer nations
Lower income central banks more likely to feel they need more resources