News
ECB holds rates as Lagarde expresses optimism
Several observers think rate cut before June is more likely as ECB says policy is working
South Africa holds rates in unanimous decision
Governor reiterates inflation must fall further before there can be cuts
PBoC and HKMA strengthen financial ties
Hong Kong to accept onshore bonds as collateral for RMB funds, as PBoC looks to open up repo market
Faster deposit flows will affect bank runs, ECB paper says
Bindseil and Senner say several factors are increasing size and speed of deposit runs
Central banks face ‘black box’ effect in AI, warns BIS
Institution’s latest bulletin underlines the opportunities and challenges of machine learning
Internal investigation criticises former Boston, Dallas Fed chiefs
Report says officials created appearance of conflict of interest, but stops short of alleging criminality
PBoC announces biggest cut in banks’ reserve ratios for two years
Governor says 50bp reduction will free up 1 trillion yuan into financial system
HKMA proposes easing data-sharing rules between banks
Hong Kong authorities cite need to tackle digital fraud and money laundering more effectively
Over half of ECB staff think Lagarde’s work is poor, union claims
ECB rejects survey as flawed and says its own figures show high levels of pride among staff
Lower immigration affecting US household spending power
Low immigration has contributed to increased prices of consumer goods, argues Atlanta Fed
Venezuela shuts down state cryptocurrency
Petro overseer had been embroiled in scandals, including over $21.2 billion of missing oil payments
Japan’s central bank leaves negative rates policy unchanged
BoJ governor sees progress in reaching inflation target but won’t say when ultra-loose lending will end
Reasons for refusing mortgages ‘do not explain racial disparity’
Minneapolis Fed’s study challenges explanations given for why people of colour are treated differently
Kosovo’s central bank rules cash transactions must be in euros
From February 1, currencies such as the Serbian dinar will not be accepted
China revises rules for PBoC’s monetary policy committee
New rules form part of Communist party’s drive to strengthen control over domestic financial sector
RBI proposes self-regulation for fintechs
Move comes as India hailed as one of sector’s “most significant operating countries”
Nigerian central bank says it has cleared some lenders’ FX liabilities
Move comes one week after CBN replaces management of three banks for alleged law-breaking
Risks persist in China’s economy despite growth, analysts say
Property sector woes, youth unemployment and falling population all cited as long-term challenges
Indonesia holds policy rate again
Central bank stays put for the third straight meeting after inflation stayed within target
Local preferences affect US bank lending to minorities – research
Ethnic minorities’ credit access is affected by stakeholders, NY Fed paper finds
BIS and partners will test digitising promissory notes
World Bank and SNB to work on project using distributed ledger technology
RBI deputy calls on government to tackle bankruptcy backlog
Courts are struggling to deal with caseload, putting progress on credit quality at risk, official says
Market ‘exuberance’ a problem for central banks – Gopinath
Easier financial conditions may be coming too early, IMF official says
Fed paper presents new way to measure consumer welfare
Consumer preferences change in line with incomes, researcher argues