Central Banks
Norges Bank holds rates and hints at easing path in 2025
Central bank says core inflation of more than 3% precludes cuts this year
Brazil raises policy rate by 25bp in unanimous decision
Central bank defies global easing cycle as domestic inflation remains above target
Turkey holds key interest rate again
Move comes as inflation, though falling, remains above 50%
BoE keeps policy rate and pace of QT unchanged
Policy-makers back “gradual approach” to lowering interest rates
Hong Kong raises rate and Taiwan holds
Decisions come a day after Fed’s 50bp rate cut
Most high income central banks engage in securities lending
But liquidity stress-testing tends to be common practice across middle income institutions
Running the numbers on Barr’s Basel III endgame revisions
Fed vice-chair’s plan to ease capital requirements for big banks still lacks critical details
FOMC initiates rate cutting with 50bp reduction
Experts say Fed’s credibility is not on the line, but Powell remains under significant pressure
Central banks face risks if they exceed their brief on global warming – IMF paper
Study says climate measures must be underpinned by legal mandate and not infringe on governments’ remits
Central bank digital currencies must be user-friendly – ECB study
To be widely adopted, CBDCs will need to combine best aspects of existing payment methods
Book notes: The monetarists: the making of the Chicago monetary tradition, 1927-1960, by George S Tavlas
A fascinating, scholarly and sympathetic account of the Chicago monetary tradition
Bank Indonesia announces surprising rate cut
Central bank aiming to boost growth amid stable inflation and global easing cycle
Rise in UK services inflation curbs bets on BoE rate cut
CPI flat overall, but economists say uptick in core and services numbers likely to make policy-makers pause
Large reserve holders use external managers for intel and new assets
Staff training trumps new asset class adoption as overall goal for third parties’ engagement
Sarb releases ‘first-of-its-kind’ payments study
Central bank claims report is first comprehensive analysis in Brics countries
Swift tailors its operations for digital assets
Network says DvP and PvP capability will let securities buyers pay for and exchange tokens simultaneously
NBER paper reviews ‘state of the art’ climate modelling
Recent breakthroughs have increased accuracy and computational efficiency of IAMs
BoT governor calls for new growth model for Thailand
Sethaput advocates stronger focus on local development and quality of life
AI risks ‘strikingly similar’ to financial ones – DNB official
Central banks entering new phase of risk management, says board member responsible for supervision
Endgame manoeuvre: US banks put SLR reform back in spotlight
Plan to ease Basel III brings renewed focus to impact of leverage ratio on US Treasury market
Asset delegation to external managers averages just 12%
One in 10 central banks considering reviews of allocations to external managers
Alpana Killawala on communications under six governors at the RBI
The former RBI comms chief speaks about the importance of strategic communications, courting the media, open mouth operations and altering a governor’s ‘rock star’ image
BIS begins design phase of Project Agorá
More than 40 firms join leading central banks in efforts to overhaul cross-border payments