News
FOMC calls halt to cutting cycle
Unanimous decision keeps rates on hold; Powell signals no move likely for some time
Brazil likely to end easing cycle with 50bp rate cut
Record-low rates will suffice to boost growth in 2020; inflation up on weaker real
People: BIS picks Lamfalussy fellow; Iceland appoints research director
BIS names 2020 fellow; Icelandic central bank promotes economist; Jekaterina Govina becomes director of supervision in Lithuania
Forex market growing, but more risky – BIS review
Reduced reliance on PvP and heightened fragmentation threaten market resilience
Sri Lankan government may not pass central bank reform – adviser
Former governor’s comments come as IMF praises draft law on central bank inflation targeting
Tensions emerge in Fed’s push for instant payments
The US Faster Payments Council is in a better position than the Fed to tackle key issues, some say. Others welcome the Fed’s muscle in promoting competition
New ‘currency’ aims to tackle failings of its predecessors
Saga sits somewhere between a stablecoin and a crypto asset – and has been designed by a team that includes former central bankers
Central banks should collaborate on multicurrency CBDC – research
Lithuania’s central bank notes national CBDC projects will not solve global payment inefficiencies
IMF head warns Ukrainian president over banking scandal
Central bank sues lawmaker over what it says are slanderous statements on behalf of oligarch
Argentinian president appoints new governor
Miguel Angel Pesce rejects high interest rates as means of reducing inflation and backs price controls
Data sharing could curb big tech dominance – FSB
Ensuring all financial market incumbents have access to same data could level the playing field
Marvin Goodfriend, 1950–2019
The leading economist and former Fed official died on December 5
Banks’ repo muscles may have ‘atrophied’ – Borio
BIS report highlights impact on market functioning from Fed and ECB easing action
Poloz to leave Bank of Canada in June 2020
After a seven-year term under which the central bank has undergone numerous transformations, the governor announces he will not seek reappointment
Bank of Israel proposes open banking rules to foster competition
Banks and credit card companies to allow supervised third parties access to their customers’ accounts
Turkish central bank faces sluggish economy and political pressure
Updated policy framework includes major increase in MPC meetings, but few other changes
UK regulators weigh rules for ‘operational resilience’
Under proposals, firms will be expected to demonstrate their preparedness for operational issues
Carstens: Money without central banks is doomed to fail
Many “architectures” are possible but they must be built on a foundation of trust, BIS chief says; improving “two-tier” system may be best approach
Chilean MPC abandons easing plans amid political unrest
Currency fell sharply in November following prolonged street protests
Banque de France to launch CBDC experiments in 2020
De Galhau says new directorate will look at using wholesale CBDC in transactions for tokenised assets
Argentine governor resigns before new president takes over
Guido Sandleris calls for economic consensus and central bank independence to tackle high inflation
Many firms not following global forex standards – RBA deputy governor
Guy Debelle says global forex committee shifting focus to algo trading
Fed’s supervision may have added to repo turmoil, Quarles says
Republican lawmaker concerned for financial stability if “bad regulation” is driving monetary policy
RBNZ to impose 18% capital ratio on big banks
Central bank finalises plans for substantial increase in minimum capital requirements