Central Banks
The PBoC’s efforts to solve the ‘impossible trinity’
Chinese central bank intervenes to manage offshore renminbi rate; uses swaps, rather than selling reserves in latest currency interventions
Bank of Mexico raises rates on high inflation and policy uncertainty
The governing board increased the policy rate by 25 basis points to 8.25%
Book notes: Keeping at it, by Paul Volcker with Christine Harper
Volcker, a man who has made history, delivers a fascinating memoir, providing insights into the key lessons learned during his decades of public service, writes Jean-Claude Trichet
US regulators find ‘shortcomings’ in foreign bank living wills
Banks will have to correct the problems when they next file a resolution plan
‘Key currencies’ affect patterns of global imbalances – BIS paper
Authors say it is important to think about a “dollar zone” not just the dollar
BoCHK set to secure role for Philippines renminbi clearing
Bilateral settlement gains importance in yuan internationalisation process; race on for Indonesia clearing licence
Number of risky housing loans issued in 2018 drops, says Danish central bank
Limits on loan-to-value and debt-to-income ratios have seen reduction on risky loans
Riksbank implements first rate hike since 2011
Split executive board reduces inflation forecasts for 2019 and 2020
Indonesia holds rates on solid growth and stronger rupiah
Higher rates through 2018 have attracted capital and helped keep inflation on target
Europe approves post-Brexit CCP and CSD framework
EC adopts temporary regime to allow UK CCPs and CSDs to continue operating for 12 months after Brexit; BoE and Esma in talks to ensure efficient supervision
BoE warns Brexit uncertainties have ‘intensified’ as rates stay on hold
Brexit “weighing” on UK markets; committee votes unanimously to keep rates on hold
Causes of liquidity traps are ‘crucial’ to policy response – BdF paper
Liquidity traps caused by investor deleveraging may not respond to QE, researchers say
Mozambique sources new payments IT provider after dispute
Payment dispute pushes central bank to speed up unification of payment systems; US-based firm chosen to supply computer system for interbank network
Barroso laments loss of post-crisis international fraternity
Nations worked together in the aftermath of the global financial crisis at a time described by former EC president Jose Manuel Barroso as the “peak” of global collaboration
Fed goes ahead with fourth hike of 2018
Policy-makers vote for hike despite volatility, but dovish language suggests growing caution
IMF agrees new aid package for Ukraine
Statement praises Ukrainian reforms but says aid will still be linked to continuing progress
EME banks have ‘substantially’ increased global footprint – BIS research
Study finds emerging market banks have taken a greater role as their home economies have grown
Auditors call for BoE to do more to modernise working practices
Complex, outdated and overly manual processes are adding to costs, says report