Central Banks
Podcast: Why forward guidance needs guidance
Richard Barwell, head of macro research at BNP Paribas Asset Management, discusses the limitations of forward guidance and what central banks must do to improve their communications
Oversight functions stifled by lack of resources, some central banks say
Skills and resources were identified as limiting factors, as well as the challenges of a recently formed oversight function
The IMF’s $650bn SDR allocation and a future ‘digital SDR’
Focus is needed on widening SDR use in payments and the creation of a ‘digital SDR’, to support a large allocation of ‘official’ IMF SDRs, writes Warren Coats
Brainard reiterates that inflation is ‘transitory’
Fed board member speaks after PCE inflation figure of 4% released
Eurozone inflation up to 2.2% in July
Germany records 3.1% inflation rate, France 1.6%, Italy 0.9%
ECB stress test highlights importance of credit risk
Mid-sized banks suffer higher capital depletion due to lower income from interest and fees
Disclosures and taxonomies vital for climate risk understanding – RBNZ official
Central banks also need to ensure staff are skilled in climate risk
Liberia’s central bank expands monetary policy committee
Governor and deputy governor reappointed
SNB reserves hit Sfr1 trillion
Equity holdings now account for 23% of the portfolio
BIS ‘Project Nexus’ targets 60-second cross-border payments
Project seeks to link up existing fast payment systems, but several hurdles remain
Scope of payments systems oversight varies
Almost all central banks are mandated to oversee systemically important payments systems but payments networks, international remittance services and fintech providers often fall out of scope
Report finds major failings in eurozone’s RTGS management
ECB-commissioned Deloitte inquiry into system failures recommends series of reforms
Bahrain court convicts Iranian central bank of money laundering
Government says case involving CBI was largest money laundering case in Bahrain’s history
BoE to wind up euro liquidity facility
Improvement in funding market conditions means euro funding is no longer needed, BoE says
UK’s FCA consults on measures to increase boards’ diversity
Regulator may bring in “comply or explain” rule over diversity on publicly listed firms’ boards
Check under your cushions, urges Chilean central bank
Pandemic has led to shortage of coins in circulation, causing problems for retailers
Diaz de León warns of trouble for emerging markets
Mexican governor appears to criticise policies of country’s president
People: Bank of Canada appoints top payments regulator
Iceland’s central bank appoints new CEO and World Bank names country directors
China’s capital controls: here to stay?
With China’s share of the domestic central government bond market significantly increasing in just a few years, and the International Monetary Fund including the renminbi in its special drawing rights basket of currencies, China is enjoying growing…
Ethiopia’s central bank launches digital payments strategy
NBE pledges to launch retail real-time payments system and consider charges on cash use
Canadian cash volumes rose in pandemic
BoC says increase driven by stockpiles of big notes and interruptions in circulation