The Americas
Bank of Canada reduces rates by 25bp
Macklem says runway for a soft landing is in sight and policy is working
Average cost of running RTGS systems is $1.8 million
Annual costs slightly higher than last year’s benchmark
How Argentina’s financial tango could become a dance of death
Central bank and government’s unholy alliance is storing up further trouble for economy
Atlanta Fed cuts second-quarter US GDP estimate
Bostic says “orderly slowdown” could be positive news
Most RTGS systems operate between seven and 12 hours daily
More than 40 institutions on average have direct access to infrastructure
Most central banks optimistic about tokenisation
Programmability, digital signatures and enhanced security are some purported benefits
Slightly over half of payments teams outsource services to third parties
Contracting central banks provide information on attendant risks and precautionary measures
Fed research investigates supply chain resilience
Stiglitz and co-authors look at firms’ investment in production capacity
Payments staff strength averages close to 30 personnel
Employees in the Americas collect highest average annual salary
Beth Hammack named new Cleveland Fed president
Former Goldman Sachs executive will vote on Fed policy in 2024
Fewer than half of central banks involved in pricing payments
But Asia-Pacific and African institutions are typically do engage in pricing
Bank of Canada conducts large-scale survey of indigenous-owned firms
Indigenous firms have higher inflation expectations and use alternative funding sources
Over a third of central banks say retail payments are diversifying
Americas and Asia-Pacific tend to report diversification, as tech and regulation drives change
Over half of central banks have payments oversight powers
Networks and international remittance supervision only covered in a few jurisdictions
Global supply chains undergoing “great reallocation”, expert says
Mexico is biggest winner from US trade shift, economist tells Atlanta Fed conference
Trends in reserve management 2024: survey results
Insights on geopolitical risk, AI, asset diversification, risk management and ESG adoption
Fed paper looks at US opioids crisis
Banks are causing credit contraction in worst-affected communities, researchers say
Research queries monetary policy ability to curb financial crises
“Leaning against the wind” is unlikely to work, New York Fed paper argues
Neutral interest rate likely to rise, paper finds
Several factors are pushing rate upwards, Bank of Canada researchers say
Most comms teams aim for social media boost in 2025
Top priorities for next year align with 2023 benchmark findings
Press releases outnumber officials’ public appearances
Statistical bulletins also rank as most published document annually
Uneven US innovation could increase inequality – research
St Louis Fed economist documents rising patent concentration by area
Fed releases guidance on third-party services
Fed board warns of possible operational, compliance, financial and strategic risks
Traditional comms still a bigger focus than social media
Lower-middle income teams less likely to track external communications