The Americas
Use of centralised data services increases across institutions
Rise of central data teams has gone hand in hand with greater use of alternative data
Alternative data used at most central banks
Non-traditional data such as Google searches widely used to support research and forecasting
Research economists devote more working time to own projects
On average, own research works consume 25% of policy economists’ working time
Advanced economy institutions tend to produce more papers
Emerging market researchers averaged five papers a year in peer-reviewed journals
Research agenda determined across multiple levels
Governors and deputy governors give final sign-off on most research publications
Ilan Goldfajn wins race for IDB presidency
Former Brazilian central bank governor takes helm at scandal-hit institution
Majority of banks blend research and policy functions
Only one in five jurisdictions restructured economics unit in the past 12 months
US needs regulatory framework for non-banks, Treasury says
Non-banks’ provision of core banking services causes risks to privacy and stability, says report
Growth and inflation are top forecast indicators
More emerging markets forecast growth and inflation compared with the past year
Trinidad and Tobago adds fifth name to IDB race
Gerard Johnson announced as candidate on last day nominations were open
Last-minute moves shake up IDB race
Mexico replaces candidate, Argentina joins race
Banknote volumes and values rose among most central banks
Most recent estimates show volume and value of circulating notes rising in 2022
Project shows blockchain making FX trades faster and safer – NY Fed
Tests by NY Fed and BIS settles FX spot trades in less than 15 seconds
Banks receive widely varying volumes of damaged cash
Central banks share data on values and volumes of mutilated currency
Fed’s stability report warns over global tightening and stablecoins
Stablecoins face possible runs while strong dollar poses EM risks, Fed says
Most jurisdictions have not withdrawn denominations in past five years
Thirty-two central banks have an average of six denominations in circulation
Fed might make smaller rate hikes, says Susan Collins
Boston Fed president hopes FOMC can cut inflation with “relatively modest” unemployment
Central bank boards most often make decisions on banknote imagery
Banknotes image types vary from recognised figures to natural phenomena
Majority of central banks have access-to-cash policies
More than two-fifths require a minimum level of cash services from banks
Counterfeit banknotes removed from circulation average $425,000
UV ink and intaglio printing are most common security features
Banknotes generally have at least one aid for visually impaired
Raised inks are most common feature, followed by making denominations different sizes
Few central banks use big data tools to forecast currency demand
Forecasting is very common, while few expect big changes in currency needs for 2023
Banknote contagion measures reduced in 2022
Participating institutions say coronavirus has shaped currency demand
Paper-based banknotes still outnumber polymer substrates
Most banks do not plan adoption of new substrates