Central Banks
RBNZ welcomes reformed governance framework
Overhaul of the central bank law paves way for new decision-making body
Link between US labour costs and inflation has weakened – ECB paper
US can sustain robust labour markets without risking inflation outbreak, researchers say
Fed decisions barely noticed by households – BIS paper
Researchers find even major events have only a muted impact on household inflation expectations
Mastercard and Visa dominate card scheme market
Number of operational card schemes ranges from zero to 10
New Bafin president takes up role
Ex-Finma head pledges to make heavily criticised German financial regulator “world class”
Energy prices boost Norway’s headline inflation to 3%
Core index declines to 1.1%, the lowest level in almost four years
OECD flags early signs of ‘moderating’ growth
Slowdown is widespread in advanced economies, but emerging markets see greater divergence
PBoC plays down surge in factory-gate prices
PPI and CPI in July both higher than expected, but central bank says pressure is “controllable”
Limited adoption of ISO 20022 messaging in RTGS systems
Around a fifth of central banks said they use the emerging payments messaging technology
An assessment of the ECB’s strategy review
A number of aspects of the new framework raise challenges for implementation and credibility, while the inclusion of climate change may politicise the institution, writes euro architect Otmar Issing
Russian central bank may sell nationalised lender to ‘strategic investor’
Bank of Russia says it could bring sale of Otkritie forward if right buyer can be found
BIS paper highlights ‘ripple effect’ of monetary policy
Balance sheets of upstream and downstream firms “salient, yet mostly overlooked”, authors say
CPMI aims to ‘shape the future of payments’
Committee publishes work programme for first time, focusing on innovation and risks in FMIs
Ecuador central bank doubles BIS credit line
Central bank to treat funds as precautionary to deal with a future downturn
People: Georgia names new vice-governor
IMF appoints director of HR; Kuwaiti emir makes delayed board appointments; Indonesia shuffles regional reps
Bank Indonesia bolsters FX settlement with Japan and Malaysia
BI continues to promote local currencies in a bid to “reduce dependence on the US dollar”
Half of central banks surveyed experienced RTGS outages last year
Most reported operating one contingency site
Police search Paraguay central bank
“Fifa-gate” investigations into embezzlement lead special AML unit to execute warrant
Myanmar central bank restricts foreign hires
Move comes after months of unrest and shortly after military announced 2023 polls
RBI promises policy support ‘as long as necessary’ despite inflation surge
Inflation breaches tolerance band but governor says economy now “in a much better position”
Bank of Mexico increases monetary policy transparency
Central bank to start disclosing individual votes of board members after policy meetings