Central Banks
Eurozone inflation reaches 10-year high at 3%
Rapid rise in energy prices was main driver, according to Eurostat estimates
Central banks can improve reserves handling – World Bank
Direct board involvement, trading office setups and finance ministries all matter, report finds
People: New York names state financial services regulator
New president at development bank; supervisors promoted at regional Feds; and more
FX market intervention key tool for emerging market economies
Central bank markets departments perform a wide range of different roles
Communications Benchmarks 2021 – presentation
Central Banking’s communications subject matter specialist Daniel Hinge speaks with Christopher Jeffery about communications staffing and salaries, effective approaches and favoured channels
Book notes: How boards work, by Dambisa Moyo
Moyo offers insights into the skills required to be a valued board director, as well as a thought-provoking list of issues that may appear with greater frequency on future board agendas
Bank of England names new chief economist
Huw Pill is former ECB official and chief European economist for Goldman Sachs
Chilean central bank steps up policy tightening
Board unanimously decides to increase interest rates by 75 basis points to 1.5%
Canada records surprise GDP decline
Second-quarter figures show 0.3% contraction, which may affect taper and monetary policy
Spartan️: tougher, ultra‑durable, cost‑effective banknotes for the note/coin boundary
CCL Secure explores how its new formulation of bank-grade polymer and ink technologies, Spartan, focuses on extreme durability and offers an imaginative, ultra-durable, efficient, sustainable and cost-effective solution.
Olsen to step down from Norges Bank
Norwegian governor will leave one year before end of second term
Asset purchase programmes prevalent among advanced economies
But just 17% of emerging market economies said they operate a purchase programme
Some philosophical questions about the future of central banking
Kenneth Rogoff weighs up the many challenges facing central banks in the years ahead, from debt and inflation to negative rates and the dangers of ‘mission creep’
Bolivian ex-governor warns pension law poses bank risk
Current governor has stayed silent on risks posed by measure, former governor Morales says
HKMA says employees must be vaccinated or take regular test
Hong Kong financial regulators will all impose same regime, government official says
Kuwait launches new interbank payment system
Transactions will be instantaneous and payment data encrypted, governor says
Majority of central banks use corridors to set market rates
A handful use floors due to unconventional policy, and some use other methods
Too great expectations from the ECB’s strategy review
The review process represents operational best practice, but will fail to unify the Governing Council
Salaries higher for monetary policy staff than markets specialists
Budgets for monetary operations/markets teams were larger, but monetary policy staff were slightly better compensated
Indonesian central bank to buy $30 billion debt from government
Central bank will receive below-market yield for most purchases in two-year programme
South Korea raises policy rate
Governor cites rising household debts and house prices as reasons to tighten policy