News
New Dallas Fed president says inflation is top priority
Lorie Logan pledges to build relations with local population and work on behalf of community banks
ECB appoints expert advisers on supervisory process
Members include former Japanese FSA head Himino and Bank of Canada deputy Rogers
China and Hong Kong to strengthen capital market ties, senior official says
Hong Kong markets should be able to trade in Chinese government debt futures, says Fang Xinghai
Fed’s QT reaches maximum as critics warn of stability risks
Former RBI governor Rajan and co-authors argue QT may pose risks for financial stability
IMF says Sri Lanka must reform central bank law for $2.9bn bailout
Government must end monetary financing and give central bank autonomy, fund says
Privacy commissioner closes probe into RBNZ cyber defences
Central bank has “made every change recommended and more” in wake of hacker breach
ECB’s Lane and Schnabel strike different notes on eurozone inflation
Schnabel says “right tail” shift could herald de-anchoring, but Lane says other outcomes are possible
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