Central Banks
RBA waiting for more data before deciding whether to cut rates
Minutes of last meeting show board favoured easing but was split over when it should occur
Thailand names Vitai Ratanakorn as central bank governor
Cabinet picks state-owned lender’s CEO to take over from Sethaput Suthiwartnarueput on October 1
BoE publishes SVAR model in response to Bernanke review
Flexible model designed to provide “structural narrative” to understand forecast revisions
Portugal’s governor remains in place ahead of ECB meeting
Government fails to announce Centeno’s reappointment or replacement after term ends
Wholesale bank funding boosts policy transmission – paper
NBER study highlights trade-offs between reducing systemic risk and facilitating credit flow
MAS names first asset managers for stock market support fund
Singapore places first S$1.1 billion of S$5 billion fund with Avanda, Fullerton and JP Morgan
China holds key lending rates
PBoC keeps one- and five-year LPRs at 3% and 3.5% respectively, as expected
Non-banks pose hidden stability risks – Fed research
Credit lines to NBFIs are off firms’ balance sheets, thereby concealing potential hazards, say authors
Regional trade key for Africa’s growth – BIS bulletin
Closer ties between states will help shield continent from US tariff shocks, researchers say
Tariffs would reduce jobs and real income in US – new study
San Francisco Fed paper says drops in earnings would be unevenly spread
Kazakh central bank denies it is adding crypto to reserves
National Bank of Kazakhstan says “no decision has been made” on strategic crypto reserve
HKMA dismisses reports it will establish ‘bad bank’
Monetary authority says lenders’ balance sheets are healthy and their credit risks well managed
Barr slams weakening of bank supervisory tests
Fed governor warns deregulation during boom times ushers in crises
Judy Shelton on gold, tariffs and where the Fed went wrong
The potential successor to Jerome Powell discusses why she thinks the Fed is too powerful, why her stance on gold is not a ‘crank’ position, and why she feels events have vindicated her and president Trump on the need for rate cuts
Sino-Egyptian collaboration could reshape global monetary order – expert
MoU provides further evidence of shift towards multipolar world, says professor
Book notes: Beyond banks, by Dan Awrey
The book proposes thoughtful reforms to establish the same reliability for new monetary IOUs as currently exists for bank IOUs
More NBFI liquidity data could aid financial stability – ECB study
Research recommends active margin call monitoring for non-banks
Ex-BCRA chief: Argentina missed window to rebuild reserves
Authorities could have bought more dollars during prime export season, argues Martín Redrado