News
RBA to focus on inflation targeting for 2022–23
Australian central bank changes priority as inflation reaches highest level since 1990s
Tensions flare between policy-makers over US Treasury reform
SEC’s proposed rule-changes have “ruffled feathers” at Treasury department
Swift aims to cut cross-border frictions with predictive tool
Use of anonymised data can help spot errors in cross-border payments, Swift says
FedNow scheduled for mid-2023 launch
Bowman and Brainard see CBDC substitution and cloud technology advantages
Hungary raises interest rate to 11.75%
Central bank official cites inflation and dispute over rule of law
Chile renews IMF flexible credit line as risks grow
Months after ending the previous facility, Chile has reactivated it
US judge rules against seizure of Afghan central bank assets
Assets cannot be seized while US government does not recognise Taliban regime, judge says
Supply-side pressures likely to persist – Carstens
Policy-makers “need to be realistic” about the feasibility of demand management, BIS chief says
Case for retail CBDC ‘not compelling’ in Singapore – Menon
But MAS is building CBDC and sees some “promising use cases” for digital assets
Two rural banks in China’s Liaoning province go under
Regulator says the banks were involved in illegal operations
Chinese authorities arrest 234 suspects linked to Henan banking scandal
Authorities also start repaying more depositors after months-long freeze
Powell promises ‘forceful’ action to reduce inflation
Fed chair warns against premature loosening and says cutting inflation “will take some time”
PBoC launches new phase of e-yuan pilot
Consumers in some cities can use prototype CBDC for public transport and housing
Chinese authorities announce $44 billion stimulus package
Authorities increase funds to power companies and farmers as country suffers from multiple crises
Joseph Stiglitz calls for rethink of macroeconomics
DGSE models have “nothing to say” about economic effects of Covid-19 measures, Nobel winner says
Korean MPC tightens policy again and raises inflation forecast
Governor says central bank likely to continue with 25bp hikes as core inflation rises
Inflation targeting’s time may be over, Adam Posen says
Posen says changes to global economy may necessitate complete rethinking of monetary policy
Australian government will map crypto asset holdings
Move is necessary to oversee “largely unregulated” crypto sector, finance minister says
Decision theory can guide climate modelling, Nobel laureate says
Lars Peter Hansen argues policy-makers need to pay more attention to uncertainty
Nigerian governor announces second phase of CBDC project
E-naira has been used in transactions worth $9.5 million, Emefiele says
Australian banks must do more on climate risks, RBA official says
Green asset taxonomy must be appropriate for Australian conditions, says central bank official
Bank of Israel raises rates by largest amount since 2002
MPC says short-term inflation expectations have fallen, but warns of faster increases in house prices
Crypto assets may threaten Asian stability, IMF officials warn
Rising correlation between crypto and equity markets poses financial stability risk, say economists
Bank Indonesia raises interest rates for first time in three years
Governor says decision is “pre-emptive” after inflation reaches a seven-year high