Central Banks
BIS paper warns of worsening fiscal and monetary trade-offs
Many governments have sought to shield consumers from price rises, at a high budgetary cost
BoE proposes minimum resilience for LDI funds
Funds at centre of UK’s bond market 2022 crisis must withstand bigger “yield shock”, BoE says
A troubling trilemma
Central banks need to tread a fine line as they serve as the economy’s police, fire brigade and paramedics
Uruguay’s government will recapitalise central bank
Economist says BCU failed to hedge against exchange rate risks
Australia to publish central bank review in April
Independent review likely to propose changes to RBA’s board
Most central banks satisfied with policy autonomy
EME central banks say they are more likely to face pressure over monetary policy
Credit Suisse collapse triggered eurozone contagion – ECB’s Enria
Enria says some kinds of contagion were more dangerous than others as Swiss G-Sib collapsed
SVB collapse threatened banks across the US – Fed’s Barr
“Full extent” of bank’s vulnerability was not clear to supervisors until the run, vice-chair admits
Lagarde slightly injured in car accident
ECB president was departing Euro Summit
UK banks insulated from wider troubles, BoE says
Financial policy committee “closely monitoring” events but says capital and liquidity are sufficient
Rates round-up: Ghana and Thailand tighten
Many central banks in Africa, Asia and Europe still raising rates, but Angola continues cuts
Some internal policies differ by country income
Central banks likely to have ethics codes and whistleblower policies regardless of national income
Bailey says investors ‘testing’ banks for weakness
UK banks not facing same issues as SVB US or Credit Suisse, BoE governor says
PBoC swap lines now key international bailout tool
Researchers say PBoC extended support worth billions of dollars to Belt and Road countries
Fed details Custodia rejection decision
Decision says Wyoming firm has deficient management and risky business model
Fed’s Bullard revises rate projection upward
Policy-maker says bank stress likely to fade but inflation fight continues
Most central banks disclose governors’ salaries
Governors’ salaries show moderate correlation with countries’ per capita GDP
Banknotes: January to March 2023
A round-up of news and salient issues that have affected central bankers in the past three months