Europe
ECB’s green bond plan is insufficient, NGO says
ECB plan shies away from excluding high carbon output companies, says Reclaim Finance
Inflation: what went wrong, and why?
Three theories on the causes of high inflation and their implications for policy responses
More central banks expand existing liquidity swap lines
More than 23% of participating countries gained access to IMF facilities over past year
Share of central banks screening ESG risks declines slightly
Central banks in Europe in top slot for including ESG criteria on their benchmarks
Central banks divided on how Russia sanctions will hit reserve currencies
Non-European central banks more likely to expect a growing role for renminbi in reserves portfolios
ECB lays out plan to green corporate bond portfolios
Central bank will focus on issuer-specific climate scores
Most central banks will not alter diversification due to high inflation
Over 63% of central banks do not plan changes, while almost 27% are discussing modifications
Social media: an essential tool for central bank communication
Strategies to secure popularity, comprehensibility and reputation as new media takes centre stage
Norges Bank, Riksbank and SNB expected to raise rates
High inflation and ECB tighter policy stance put pressure on eurozone’s neighbours
Boards remain key body in benchmarking approval
In almost 60% of central banks the board makes final decision, investment committee in 29%
Economy’s ‘first responders’ now in the line of fire
Forceful but late interventions to combat inflation raise the risk of central bank overreactions
ECB could bring rates close to 2% by year’s end, says French governor
François Villeroy de Galhau estimates eurozone’s neutral rate is below or near 2%
More central banks engage in gold lending and swaps
Securities lending is more common among central banks from high income jurisdictions
IMF paper explores second-round effects of oil shocks
Authors find oil shocks have greater impact where inflation is already high
Summers and Krugman see no alternative to ECB tightening
Despite lack of overheating, huge energy shock requires action to anchor inflation expectations
Over 18% of central banks adopted new reserves assets last year
Middle income jurisdictions led the trend, 28.6% diversified their asset allocation
Emerging markets central banks maintain lead in portfolio tranching
European institutions are less likely to implement this strategy
ECB raises rates on government deposits to ease transition
Governments should make “alternative arrangements”, ECB says, after pandemic saw deposits rise
Morocco’s Jouahri on inflation, forex reform, digitalisation and sustainability
BAM governor speaks about Covid-19, Fed tightening, BIS membership, regional co-operation and inclusion
Few central banks use FX swaps to defend exchange rate
Just 7% of participating central banks report using this practice
EU needs radical fiscal reforms, IMF report says
Framework would aim to free ECB from having to stabilise sovereign bond markets
ECB raises rates by 75bp for the first time
Lagarde warns monetary policy will not bring energy prices down
Joseph Stiglitz on the challenge of fixing macroeconomics
Nobel Prize-winner discusses if central banks went wrong in 2021 and what to do about inflation
ECB expected to deliver first-ever 75bp rate hike
Record-high inflation of 9.1% in August and a weak exchange rate add pressure