Central Banks
PBoC opens local currency payments market to first foreign company
Central bank issues clearing licence to Amex in step towards opening up one of world’s biggest bank card markets
Fed poised to purchase corporate bonds next week
New York Fed will create a portfolio to track the US corporate bond market under new plans
Reserve managers ‘unprepared’ for home trading
Covid-19 presented reserve managers with unprecedented business continuity challenges at a time of acute market and economic distress
Yemeni militia seizes government central bank’s currency
Reports say armed men took notes worth $20 million as civil war factions struggle for power
Sarb introduces collateral substitution for repos
New framework designed to give banks more flexibility in managing collateral
Iran’s race towards monetary policy reform faces high hurdle reality
The Majlis Research Center’s Tohid Atashbar says positive outcomes from the Iranian central bank’s fast-tracking of monetary policy reform – made in response to Covid-19 and US sanctions – may prove difficult to deliver
Chicago Fed breaks ties with economist over Black Lives Matter criticism
Controversial comments by senior professor ignite debate over racism in economics, and the Fed’s role in tackling inequality
US citizens think Fed’s communication strategy needs adapting – Fed report
“Fed Listens” events revealed a lack of understanding about inflation targeting, report shows
Ukraine’s central bank cuts rates to record low
Central bank says move was made possible by IMF aid and pledges further boost to reserves
Recession causes inequality ‘double whammy’ – research
Paper links loss of hours worked to inequality, with recessions causing a negative ratchet effect
Fears rise over breakdown in Basel and IFRS standards
Bretton Woods institutions worried about growing divergence in capital and accounting standards as credit impairment tsunami looms; US and many emerging economies skirting the rules
High US inflation should not be ruled out
A prolonged health crisis raises the risk that supply-side factors, monetary expansion and rising personal savings could stoke hidden inflationary pressures
Solomon Islands central bank cuts reserve requirements
Reducing requirements will ensure ample liquidity is provided to banking sector, central bank says
Lebanese governor in emergency meeting as crisis grows
Currency reported to have lost 50% of value this week as exchanges ignore central bank orders
Norges Bank supervisory board strongly criticises contract with new SWF head
Board tells lawmakers the contract agreed by central bank governor lacks sufficient safeguards
BoE launches new education progamme for children
UK central bank broadens financial literacy campaign with second programme for schools
Fed policy is too tight given FOMC projections – former Fed economist
“An outlook that bad for that long is a clear sign that policy is too tight,” Joseph Gagnon says
New York Fed to tighten repo operations
Fed sees “substantial improvements” in dollar funding markets
Bank of Korea sets up digital innovation division
Korean central bank aims to increase CBDC research and create new statistics system