European Central Bank (ECB)
Asset purchase programmes prevalent among advanced economies
But just 17% of emerging market economies said they operate a purchase programme
ECB council divided on forward guidance, minutes show
Some senior officials argued new formulation risks inflation overshooting
Is the ECB’s strategy review enough?
The reformed framework may allow greater stimulus to tackle weak inflation expectations, but the Governing Council is already divided on what to do next
German inflation could be over 2% until mid-2022 – Bundesbank
Inflation is likely to drop from early 2022 as base effects end, central bank forecasts
New forward guidance is “elemental” for ECB strategy, Lane says
Chief economist implicitly disagrees with Belgian governor’s criticism of new wording
Bank dividend suspension proved effective – ECB
Lenders that reduced distributions increased both provisions and lending to the real economy
Green finance and mispricing: what role for central banks and governments?
Governments and central banks cannot stay on the sidelines if they are to fix market mispricing, says Sayuri Shirai
Link between US labour costs and inflation has weakened – ECB paper
US can sustain robust labour markets without risking inflation outbreak, researchers say
An assessment of the ECB’s strategy review
A number of aspects of the new framework raise challenges for implementation and credibility, while the inclusion of climate change may politicise the institution, writes euro architect Otmar Issing
The six key drivers for digital currency
Dave Birch breaks down the forces that are pushing central banks towards CBDC
Eurozone inflation up to 2.2% in July
Germany records 3.1% inflation rate, France 1.6%, Italy 0.9%
ECB stress test highlights importance of credit risk
Mid-sized banks suffer higher capital depletion due to lower income from interest and fees
Report finds major failings in eurozone’s RTGS management
ECB-commissioned Deloitte inquiry into system failures recommends series of reforms
Sanctioned disobedience: the challenge of protecting whistleblowers
Most central banks have policies on whistleblowing, but practice and usage vary widely
DLT handles major transaction volume in digital euro experiment
Test processed 300,000 payments simultaneously; carbon footprint smaller than current card payments
Macro-pru can help avoid ‘reversal interest rate’ – Bundesbank paper
Use of capital ratios can aid eurozone monetary policy, researchers say
ECB to lift limits on bank dividends from September
Supervisor stresses lenders should remain prudent in distributing dividends and share buy-backs
ECB bond holdings exposed to nature-related financial risks – paper
Study warns corporate bond holdings rely on ‘ecosystem services’ and contribute to biodiversity loss
Weidmann: inflation heading ‘in the direction of 5%’
But the Bundesbank president defends the ECB’s new policy framework
Finalising Basel III is crucial for the EU banking sector
EU banks stand to be more heavily impacted by Basel III finalisation, but that is not a good reason to hesitate, says Pedro Duarte Neves
ECB reinforces commitment to monetary stimulus
Central bank expects inflation to reach 2% “durably”, midway through its projection horizon
ECB set to adapt forward guidance in July meeting
Analysts expect ECB to adjust policy to meet goals of recent strategy review
DNB unveils sustainability policy
Dutch central bank sets out four-year green plan – investments must be “Paris-aligned”
Expecting the unexpected
Lars Schröder, senior engagement manager at SkySparc, looks at what is driving shifts in central banks’ technology requirements.