Central Banks
BoE enters new phase of data transformation project
Team is now developing options to address challenges identified in phase one
Fed rate hikes propel ‘crypto cycle’ – IMF paper
Monetary policy more correlated with institutional investment in tech than finance
Hedge funds may reduce liquidity in volatile periods – BoC research
By transacting abnormally in times of market stress, hedge funds can reduce liquidity
Brazil split decision not a problem for central bank credibility
Central bank voted 5–4 for larger-than-expected cut
New Zealand government boosts central bank capital
RBNZ granted capital boost and indemnity
Time to pay policy-makers based on their performance
The remuneration framework for central bankers needs reform amid failures to hit inflation targets, argues David Bholat
Taiwanese governor flags US sanctions risks
Yang says Taiwan should pay attention to the widening trade surplus with US
Pakistan launches sovereign wealth fund
Struggling country transfers $8 billion of shares in seven state companies to new SWF
Rates round-up: Ukraine cuts rate for first time since invasion
Thailand, Egypt and North Macedonia tighten policy; Georgia joins Ukraine in easing
BIS paper’s guide to monitoring ‘highly leveraged’ non-banks
Using new data sources can help to shed light on an opaque sector, authors say
IMF’s Selassie calls for ‘pragmatism’ on exchange rates
Official challenges idea that resisting depreciation is always the best policy
Book notes: The crisis of democratic capitalism, by Martin Wolf
A sincere attempt to explain and fix the failing of capitalism in liberal democracies
Lebanon’s acting governor says he will radically change course
Wassim Mansouri pledges cuts to central bank financing and demands action from politicians
Kansas City Fed names new president
Former bank chief executive Jeffrey Schmid takes over from Esther George
Brazil makes first rate cut in cycle
Board divides 5–4 over size of reduction, with majority backing larger 50bp option
Inequality rising in the US – Minneapolis Fed report
“Government intervention largely eliminates the cyclicality in inequality at the bottom,” research says
BoE raises rate 25bp as ‘mixed’ data clouds outlook
“I don’t think it is time to declare it is all over,” Bailey says
Argentine candidate promises TV exposé of ‘empty’ BCRA vaults
Bullrich says currency controls “are eating the reserves”
People round-up: Breeden promoted to BoE deputy governor
Former Moroccan governor dies; Tonga appoints deputies; and more
AI can forecast inflation more accurately than professionals – St Louis Fed
Large language models may be powerful tools but have some drawbacks, researchers say
New Canadian $5 on hold as finance minister delays decision
Replacing former PM could provoke backlash from French Canadians and Conservatives