Central Banks
Kansas City Fed warns slow wage growth could spur debt problems
Subprime auto debt back above pre-pandemic levels and consumer debt at highest level ever
IMF research emphasises link between inflation and fiscal policy
Authors call for spending cuts and large, targeted wealth transfers to the poor
Illegal gold trade impacts Ethiopian reserves
Assosa region holds one of the greatest untapped resources of gold in the world
SBP raises rate 100bp amid balance of payments ‘stress’
Inflation continues climb while reserves remain at critically low levels
RBNZ surprises with 50bp rate hike
Damage from cyclone threatens to keep inflation expectations higher
Rates round-up: Mexico and Colombia slow tightening
Guatemala also tightens with 25bp hike; Chile and Dominican Republic continue pauses
IMF eases Argentina loan terms
Fund approves $5.4 billion payout and lowers reserves targets as drought conditions bite
Central banks need non-bank liquidity ‘toolbox’, says IMF
Fund says central banks should act as lender of last resort to systemically important non-banks
São Tomé gets loan for RTGS upgrade
Island country lacks automated system
Opec+ production cut threatens inflation outlook
Higher energy prices were the main factor boosting inflation in 2022
BoE’s Tenreyro urges reframing of QE
Perception that the central bank is “printing money” has been hard to shake
State Bank of Vietnam cuts interest rate
Central bank says Vietnam’s economic growth has faced difficulties
RBA pauses rate hikes as inflation slows
Central bank board has not ruled out further tightening
Fed’s Cook says monetary policy is now restrictive
PCE and core PCE inflation both fall as Cook argues tight banking conditions could ease path
Bank of Israel warns political turmoil could hit GDP
Central bank slows cycle with 25bp hike, raising key rate to 4.5%
Few central banks report recruitment difficulties
Central banks from emerging market countries more likely to say they face problems finding staff
Tech could shake up international monetary system – IMF paper
Inertia likely to maintain status quo in near term, but impact of technology “highly uncertain”
Long-term unemployment can affect inflation – BoE paper
Non-linear Phillips curve helps explain finding that breaks with previous literature
China and Brazil set up infrastructure for renminbi clearing
Move comes as renminbi overtakes euro as Brazil’s second largest reserve currency
IMF approves $15.6 billion for Ukraine
Fund calls wartime loan “unprecedented” and risky
BoE paper explores ‘anatomy’ of gilts crisis
Detailed account of crisis reveals contagion, concentrated risk and role of wider market players