Central Banks
Better communication boosted monetary policy effectiveness in Indonesia
More concise press releases and issuing maturities beyond one month would further improve it, says IMF study
IMF warns unprecedented central bank support may fuel instability
Investors may be too optimistic about recovery, IMF report says
Lebanon’s powerful central bank chief and its slide into crisis
Governor Salameh created unsustainable banking sector, former minister alleges in an interview
Fed finalises Volcker rule reform
Amendments permit banks to return to risky activity seen in 2008 financial crisis, Lael Brainard warns
FSB flags ‘gaps’ in too-big-to-fail reforms
Report highlights evidence reforms are working, but resolution remains imperfect and data limited
Libra could cause central banks to lose control over monetary policy
Stablecoins linked to global reserve currencies could pose problems for monetary policy – research
Fed caps dividends after stress tests show big potential losses
Brainard says decision not enough as tests show loan losses could exceed those during financial crisis
Mexican central bank cuts rates despite rise in inflation
Board makes unanimous decision and stresses “uncertain” economic outlook
Book notes: Stable banks in challenging times, by Andreas Dombret
Dombret’s stability and rule-based compass should be that for every aspiring central banker, worldwide
BoE still falling short of ethnic diversity goal
Central bank has set itself aim of having 13% senior managers from ethnic minorities by 2022
Philippine central bank cuts rates to record low
BSP cuts rates by 50bp as IMF projects 3.6% GDP contraction in 2020
Financial shocks explain ‘large share’ of US business cycle – BoE paper
New identification method helps avoid pitfalls encountered by earlier research, author says
Podcast: Boston Fed backs community action on Covid-19 and racial inequality
Working Cities Challenge is not only helping economic resurgence in struggling cities, but also fostering better responses to Covid-19 and racial inequality, official explains
Contactless cards change young people’s payment habits - OeNB paper
Researchers use data on randomly selected 21,000 banking customers in Switzerland
Weidmann to use ECB documents before German lawmakers - report
Bundesbank president’s appearance may satisfy conditions of German court ruling
Research looks at possible East Asian trade deals
US and China stand to be worst off if trade war continues, Peterson Institute researchers find
ECB offers euros to non-eurozone central banks
Eurep facility aims to reduce international risks spilling over to eurozone, ECB says
The Fed must be careful to avoid bank deposit crowding out
Rising US government debt will have a major effect on bank funding, write Wenhao Li, Yiming Ma and Yang Zhao
IMF outlook worsens as pandemic intensifies
Fund warns of medium-term challenges for fiscal consolidation and trade
NGFS unveils climate stress-test scenarios
Group releases guidance document and data to help central banks tailor climate stress scenarios
UK debt office narrowly avoided disorderly market in March
DMO chief says BoE intervention triggered rapid recovery; debt issuance now running at record levels
New European payment effort delayed due to Covid
Consolidation of Target2 and T2S platforms hindered by pandemic