Central Banks
Ugandan governor given fifth term following national election
Uncertainty surrounds timing of Mutebile’s return to office, as deputy steps in at latest MPC meeting
Kenneth Montgomery on the Fed’s progress with instant payments
The FedNow project leader speaks about Covid-19 payment behaviours, a new liquidity management tool and what it will take to achieve ubiquitous instant payments in the US
IMF chief economist has ‘no concerns’ over inflation in US
Biden plan likely to cause 2.25% inflation, within Fed’s framework, Gopinath says
Saudi Arabia to launch instant payment system in days
New system will go live following successful pilot with Saudi banks – Sama
Norges Bank’s policy space ‘almost exhausted’ – governor
Norwegian governor warns public spending is increasingly dependent on sovereign wealth fund
Singaporean government names new SWF head
Chief of Temasek’s investment arm to take top role as Ho prepares to end nearly 18 years in charge
Kenya’s central bank transfers $45.6m to government
IMF approves pause in fiscal tightening as Kenyan authorities deal with impact of pandemic
Brainard sets out Fed’s approach to climate risk
Fed board member sets out agenda similar to that of other major central banks
Paper presents real-time bank stress measurement tool
Bank of Italy paper can measure deposit flows using RTGS data, researcher says
Bolivian central bank repays ‘unconstitutional’ IMF loan
Central bank says loan was illegal and threatens legal action against officials responsible
ECB profit falls by 30% in 2020
Decrease is mainly due to lower Treasury yields reducing income on dollar portfolio
SNB should adopt higher inflation target, report says
Senior economists recommend the Swiss National Bank reviews its policy strategy
New Nicaragua law may isolate local banks
Law could require domestic banks to maintain accounts of people under sanctions
Bank Indonesia resumes monetary easing
Central bank commits to further government bond purchases on the primary market
Book notes: Asset management at central banks and monetary authorities, edited by Jacob Bjorheim
This excellent book fills a critical gap existing since IMF guidelines on asset management were revised
Inflation climbs in UK and Canada
Headline figures increased year on year by 0.7% in the UK and 1% in Canada
Kenya strikes deal on $2.4 billion IMF package
“Multi-year effort” required to stabilise public finances and boost growth
People: IMF finance department director to retire
Third new board member at Colombia central bank; Nigeria appoints deposit insurance head; and more
Bank of Zambia caught between surging inflation and debt crisis
Central bank hikes policy rate as kwacha falls and fiscal spending overshoots targets
Temporary green QE might have limited effects – research
Green bond buying can cut flow of pollution but has little effect on stock – Bank of Italy paper
ECCB persuades states to relax fiscal stance
IMF supports move to deal with pandemic’s effects, warning against “drastic fiscal consolidation”