Central Banks
Delta variant had smaller impact on US consumer spending
Cleveland Fed finds weaker or no link between hospitalisation and spending in 2021
Securities lending prevalent in European central banks
Monetary policy, market maturity and currency variation may limit adoption in other regions
ECB paper examines ‘euroised’ economies
European countries’ informal adoption of euro places limits on central banks, says working paper
BoE launches ‘exploratory’ CCP stress test
Central bank will test credit and liquidity exposures, and will also conduct “reverse stress tests”
National income not only determinant of reserve management staff numbers
Salaries ranged between $11,968–$138,768 among benchmark participants
PBoC suffers headaches from growth, energy and Evergrande
Yi Gang mulls property sector risks, as China’s growth hits one-year low
Fed’s Bullard believes a ‘five-year window’ for AIT is ‘realistic’
St Louis Fed president says “big tent language” was a reason overshoot details were not specified; “precise numerical implementations” can “get you into trouble”
Hiking rates before asset sales may constrict credit – paper
Kansas City Fed research says raising the fed funds rate first may cause yield curve inversion
Payments Benchmarks 2021 – presentation
Central Banking’s payments subject matter specialist Rachael King speaks with Christopher Jeffery about payments, staffing and salaries, mandates, oversight, and RTGS renewal
Most central banks invest in derivatives
External managers facilitate wider use of these instruments
Permanent or transitory? Officials wrestle with inflation uncertainty
Bailey warns of possible damage to credibility, but Carstens urges caution amid high uncertainty
People: FCA chair steps down; Esma chair steps up
UK FCA chairman to depart; Verena Ross to chair Esma; new boards for Ecuador’s central bank
Dallas Fed predicts 2022 core inflation above 2%
Economists expect auto and transportation costs to abate, but spike in housing prices
IMFC backs new trust to channel resources to vulnerable economies
Resilience and Sustainability Trust would offer support to a wider set of countries and could be used to share out special drawing rights
James Bullard on Fed policy, action and governance
St Louis president calls for tapering amid “exceptional” job market and risk of “more persistent” inflation, quantifies ‘big tent language’ for pioneering AIT move, and details Congress’s role in Fed ethics oversight
Turkish president names new central bank officials
Move follows Erdoğan’s dismissal of two deputy governors and one MPC member
DNB calls on government to calm Dutch housing market
Tax reforms and greater supply needed to deal with “too much money and too few houses” – Knot
Mexican inflation rising rapidly, warns deputy governor
Heath says prices increasing at “really phenomenal” rate but expects full pandemic recovery by 2023
External asset manager use on the rise
Central banks in upper-middle income countries allocated a higher share of reserves to external managers
MAS allows Singapore dollar to appreciate in tightening move
Policy-makers raise slope of the S$NEER policy band, citing rising inflation