Central Banks
Roughly 40% of central banks lack a monetary policy committee
Governing boards remain widely responsible for setting overall strategy
Russia eases amid Middle East conflict uncertainty
Central bank says it is too soon to estimate war’s likely impact on domestic economy
Czech Republic, Moldova, Sweden and Ukraine all hold
Riksbank also lowers rate for supplementary liquidity facility as liquidity starts to dry up
BIS authors say Bistro should be on central banks’ menu
Economists say new LLM is better at projecting inflation than standard econometric models
People: Austria nominates IMF executive director
Plus: Turkey’s former governor joins Canadian finance firm; new Bulgarian deputy nominated
One in six central banks is being recapitalised
Process is ‘not as smooth as we would want it to be’, benchmark respondent says
Central banks in China, Hong Kong and Taiwan hold rates
Taiwan tilts hawkish, Hong Kong follows Fed and China expected to ease by 10bp this year
Interest rate crosswinds buffet IRRBB teams
Political intervention and rapid-fire law changes are skewering bank models for forecasting cashflows
ECB holds rates, predicts 2.6% inflation for 2026
Lagarde presents gloomy outlook for eurozone inflation and growth as energy prices spike
Bank of England holds rates and hints at hikes
MPC member says UK economy ‘damaged’ by energy shock as war triggers first unanimous vote since 2021
Brazil starts easing with cautious rate cut amid oil shock
BCB says Middle East conflict has intensified domestic inflation risks
SNB holds rates, vows to fight franc appreciation
Bank says short-term inflation pressures are high but will remain ‘virtually unchanged’ in medium term
Governors of smaller central banks earn slightly below global average
But governors’ salaries remain above $200,000 a year
BoJ holds as Middle East conflict threatens higher inflation
Ueda says Japanese firms could pass on costs ‘more aggressively’ than after start of Ukraine war
Fed holds amid uncertainty over oil shock and tariffs
Powell pledges to stay on as interim chair if Warsh’s nomination is not confirmed in Senate
Canada holds rates amid potential energy shock and jobs downturn
Governor Macklem says sustained higher prices would warrant monetary response
Iceland hikes rates by 25bp
Inflation continues to rise as central bank aims to pre-empt effects of energy shock
UAE launches support programme for country’s banks
Central bank releases capital buffers and provides capital rule relief to help lenders during conflict
European governors serve longest average term length
Central bank governors rarely appointed for one term or 3+ terms
Indonesia holds rates and adjusts FX rules to stabilise rupiah
BI says Middle East conflict provides greater reason for fiscal-monetary policy co-ordination
Australia hikes rates to combat inflation
RBA says price rises are result of capacity pressures, and persistent oil rally may worsen situation
One-fifth of central banks say governing laws are inappropriate
Government still sets salaries at one-tenth of jurisdictions
Fed watchers welcome court ruling on Powell
However, expert says DoJ’s appeal against decision could thwart Warsh’s confirmation as Fed chair
BIS urges central banks to look through energy price surge
Oil and gas prices up 40% and 60% respectively since Middle East conflict began