The Americas
Money-supply targetters account for lowest frequency of policy meetings
Upper-middle income central banks set policy and publish reports at highest frequency
Middle income monetary policy staff salaries fall behind peers
Officials in Europe and Africa tend to earn highest average annual income
MPCs largest in inflation-targeting central banks
Government reps attend meetings in two-thirds of jurisdictions with other regimes
Monetary policy budget averages under $2 million annually
Budgets larger in high income, upper-middle income central banks
Briefing, analysis and research are monetary policy officials’ top duties
Average departmental staff remains below 40 persons
Canadian rate hikes may have lasting effects – research
Bank of Canada researchers find disposable income could decrease by up to 5% by 2027
US inflation’s last mile ‘could take several years’ – Cleveland Fed
Favourable shocks are necessary to reach 2% quickly, researcher argues
Trademark confusion influences US depositors, Fed paper finds
Federal Reserve Board researchers find a similar name to a failed bank decreases deposits
Over 25% of central banks pre-brief government on policy decisions
Briefing patterns differ across institutions, as two central banks start practice
Four central banks commit to responsible artisanal gold principles
Colombia, Ecuador, Mongolia and the Philippines commit to principles aimed at guiding domestic small-scale, gold-buying schemes
Remittance fees unregulated in most jurisdictions despite high costs
But central banks identify opportunities in cross border payments integration
New York Fed paper argues for wage insurance
The programme would pay for itself and increase lifetime earnings, researchers say
Banks are main instant payments participants
Email address is central banks’ least-used payment channel
Two in five RTGS systems experienced outage last year
Majority of central banks plan technology upgrade within a year
BoJ hawkishness due to weak yen belies wage inflation concerns
The contrast in Japan-US economic, price and wage performance and their implications for monetary policies
Around two-fifths of central banks planning instant payments
Central banks processed instant transactions with average value of over $124 billion in 2023
Large central banks usually failed to quash inflation – Fed research
Soft landings are possible with early and parsimonious action, authors find
US citizens are unready for rainy days, research finds
Spending has increased from pre-pandemic trend level, Minneapolis Fed paper says
Majority of central banks increased payment system budget in 2023
Nearly half of central banks say resourcing is not sufficient
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