Central Banks
Regulators must deal with AI risks – HKMA report
AI systems must keep “humans in the loop”, expert tells Central Banking
Bank of Korea forecasts GDP will contract by 1.3%
Central bank leaves interest rates on hold but says growth outlook remains uncertain
Fed adopts average inflation target
Powell says FOMC will also allow employment to run above estimated maximum level
Argentina requests new IMF programme
Government and central bank say economic stabilisation is not possible without recovery
Mexican governor and president clash over loan allegations
Díaz de Leon says controversial loan decision was made before he headed development bank
World Economic Forum postponed due to Covid-19
Health experts advised meeting would not be safe to take place in early 2021, spokesman says
Carney to lead asset manager’s climate change strategy
Former BoE governor joins Canadian firm Brookfield and will continue in UN climate role
Liberian court acquits all defendants in central bank trial
Judge strongly criticises decision to try former governor who president accused of corruption
People: IMF appoints strategy head
Pazarbasioglu moves back to IMF; Lithuanian president appoints central bank board member
Eurozone needs ‘forceful policy response’ – Schnabel
Banks in eurozone face “substantial pressure” from Covid-19, ECB board member warns
Thai governor calls for bigger fiscal boost
“More needs to be done”, Santiprabhob says, as Thai economy faces major contraction
Demand driving fall in US inflation – San Francisco paper
Economic sectors sensitive to Covid-19 saw big drop in demand, researcher finds
The eurozone’s eastern conundrum
Bulgaria and Croatia expect a net positive effect as they take final steps to join the euro, while the Czech Republic, Hungary and Poland remain reluctant
National Bank of Belgium paper looks at IMF research networks
IMF staff provide useful case study of how co-authorship networks form, paper says
IMF criticises sacking of Zambian governor
Statement says governments should safeguard independence but language is notably restrained
Bank of Spain research traces impact of lockdown
Authors call for exhaustive test-and-trace to avoid future nationwide lockdowns
Norwegian SWF head sells holdings in bid to end dispute
Nicolai Tangen and central bank try to halt major controversy over possible conflict of interests
DLT could improve US payments – Fed team
Fed’s “FooWire Project” built simulated payments network using DLT platform
RBNZ to chair Pacific infrastructure working group
New Zealand central bank given role after drafting law on FMI regulation
Bank of Canada seeks public views on inflation targeting
Canadian central bank aims to increase public engagement with monetary policy review
IRB approach can squeeze credit supply- Bank of Italy paper
Costs of credit for private firms from IRB-regulated banks rises as instability increases, paper says