Central Banks
Swift says Singapore trial cut cross-border payment times
Network argues existing payments systems can be used for cross-border transfers
Reforms have cut Latin American unemployment – IMF paper
But informal employment and inequality remain high, researcher says
Bank of Korea cuts rates for first time in three years
Central bank warns of trade tensions as official figures show economy contracted in first quarter
ESM shakes up management structure
EU agency adds board member and new divisions to prepare for expanded role
Indonesian central bank makes first rate cut in two years
Bank Indonesia lowers seven-day repo rate as governor hints at further cuts
BIS paper proposes network model of global contagion
Authors create a network of CDS linkages to assess contagion risk in the financial system
Pakistan sharply increases rates on higher inflation
Central bank increases the policy rate by 100 basis points to 13.25%
UAE central bank hails new financial stability remit
Financial stability report notes NPL levels have risen, but banks are also making larger provisions
BoI paper presents new method for eurozone inflation forecasts
Model works well to predict inflation using data from bloc’s four largest economies, authors say
Venezuelan opposition nominates ad hoc central bank board
Legislature aims to prevent Maduro’s regime from accessing gold and foreign currency reserves
Cash no longer US’s most popular means of payment
Debit cards were the most frequently used means of payment in 2018, Fed report finds
BoE’s Hauser sheds light on ‘quantitative tightening’ in the UK
Central banks have a greater obligation to provide liquidity in good times and bad, official says
Bank of Canada latest to reform key reference rate
Central bank is set to take over administration of new reference rate next year
Senior policy-makers differ on future of global monetary system
Trichet, Lipton and Reinhart debate whether SDR could play a bigger role in global stability
Lagarde resigns as IMF managing director
Selection process to find successor will start “promptly”, IMF says
IMF supports Cabo Verde’s reforms with new programme
IMF supports monetary policy reform and says the central bank must improve supervision and comms
IMF paper analyses Philippines inflation
Longer delay in tightening rates would have led to higher inflation, researchers find
FOMC considers using repo facility
But some committee members warn over possible financial stability risks