Central Banks
Fed’s Quarles says time is coming for taper talk
St Louis Fed’s Bullard says it is “too early” to talk of tapering asset purchases
Inequality can worsen recessions – BIS paper
But authors say there is little evidence that income inequality affects consumption in normal times
Bolivian central bank to buy local gold
Government initiative aims to prevent smuggling
Formal strategy committees remain relatively rare
Boards of directors are widely used but specialist oversight committees are less common
Considerations for investing in emerging market debt
Luther Bryan Carter and Michael Cross delve into common considerations for central banks looking at investing in emerging market debt
A return of the inflation monster?
There are fears that a shift in intellectual approach towards running economies ‘hot’ could herald a return of the money-eating inflation era
ECB should adopt symmetric 2% target with AIT – US economist
Academics and former officials say ECB’s new policy framework needs to be nimble to react more quickly to inflation changes
Time series models need adapting for Covid-19 shock – ECB paper
Authors explain methods for making Phillips curves and VAR models more robust
MAS partners with financial inclusion foundation on digital currency system
Central bank officials will sit on the Mojaloop Foundation’s management boards
Central bank mandates differ between advanced and emerging economies
Governance Benchmark 2021 data shows emerging economy central banks more likely to have financial stability mandate
Should the Fed’s Fima facility be made permanent?
The emergency repo facility reassures reserve managers about access to dollar cash during a breakdown in the US Treasuries market
People: Erdoğan fires deputy governor
South Korea appoints new sovereign wealth fund chief; Fed lawyer moves to OCC; and more
Communication needs to be adapted for different audiences – RBA research
Producing information in different formats may improve success of economic communication
Leading Republican alleges Fed overreach on race
Toomey writes to regional Feds about “recent, intense interest in ‘racial justice’ activism”
Tunisian governor warns IMF aid is needed to stop ‘explosion’
Abassi tells lawmakers to accept tough reforms or face “Venezuelan scenario”
EBA finds ‘big differences’ in use of EU green taxonomy
Risk-mapping exercise finds average “green asset ratio” of 8%
Firms are ‘inattentive’ to inflation and monetary policy – NBER paper
Authors present new survey data indicating firms’ expectations are “anything but anchored”
Central banks take different routes to financial stability
Some give ultimate authority to governors but others use committees
Bahrain accuses Iranian central bank of money laundering
Prosecutors allege Iranian officials were involved in laundering around $1.3 billion to dodge sanctions
Mexican president says he will not renew governor’s mandate
President questioned why central bank could not transfer executive 2020 operational profits
IMF proposes $50bn plan to ‘end the Covid-19 pandemic’
“Upfront” financing is needed to accelerate vaccinations, say Georgieva, Gopinath and Agarwal