Europe
ECB warns of ‘pockets of exuberance’ in credit, asset and housing markets
High inflation could have “longer-lasting” effects and weigh on the recovery, says financial stability review
Podcast: Bank of Lithuania on becoming a ‘data-centric’ organisation
Officials from the Bank of Lithuania provide an update on their Data Management Maturity Program, Damama
Fed and ECB officials point to different policy directions
US officials see a rate hike in 2022 as increasingly likely, while eurozone governors rule that out
Lane makes case that inflation surge is transitory
ECB chief economist stresses weak mid-term inflation dynamics in the eurozone
Eurozone’s faster payments system to link with Singapore and Malaysia
Proof of concept is the next step of the BIS’s Project Nexus
Is the ECB policy framework suited to tackling higher inflation?
Officials and academics reflect on the two monetary regimes the central bank has faced since its creation
People: ECB appoints new head of macro-pru
BIS names Innovation Hub directors; Bundesbank sends representative to Madrid; and more
Emerging economies more likely to employ access-to-cash policies
Central banks split on access-to-cash policies
Eurozone inflation expected to hit 4.1% in October
Figure would be joint highest reading since the single currency was introduced
Lagarde acknowledges high inflation pressures
ECB keeps stimulus unchanged and insists inflation will decline during 2022
Central bank communications ‘after’ Covid
From crisis responses to coping with sudden digitisation, Covid-19 forced central bank comms teams to innovate fast. How much of it will stick?
ECB appoints members to new ‘digital euro’ board
Advisory board’s 30 members will advise on potential digital euro models
Forecaster surveys improve eurozone inflation modelling – ECB paper
Households’ and firms’ expectations do not provide useful data on inflation
ECB paper examines ‘euroised’ economies
European countries’ informal adoption of euro places limits on central banks, says working paper
People: FCA chair steps down; Esma chair steps up
UK FCA chairman to depart; Verena Ross to chair Esma; new boards for Ecuador’s central bank
BIS paper finds flaws in green taxonomies
“Taxonomy of taxonomies” proposes tackling weaknesses in categorisation of green assets
ECB’s Lane: one-off wage increases do not equal sustained inflation
Inflation is forecast to have reached 3.4% year on year in September, well above the ECB’s 2% goal
Some ECB rate-setters concerned over inflation
Minutes show certain governing council members called for sharper cut in asset purchases
SSM reduced large eurozone banks’ risk-taking – ECB paper
Reduced credit risk was driven by supranational authority’s greater efficiency, authors argue
More regulatory action on big tech may be needed – FSI paper
Actions so far may not be enough to address growing risks, says Financial Stability Institute
Emerging European countries’ asset purchases worked – IMF paper
Emerging market central banks in Europe bought assets without triggering instability, authors find
Goodhart, Gopinath and Lippi disagree on inflation
Central banks lack tools to deal with inflation, Goodhart warns, but IMF chief economist disagrees
Swedish central bank may join Eurosystem payments platforms
Sveriges Riksbank says Target2 and T2S could enhance policy but has security concerns
Agustín Carstens on BIS strategic priorities, innovation and central bank policy
The BIS general manager speaks about policy trade-offs at critical time, tackling NBFIs and the dearth of ‘green’ assets, tech collaboration, and why he favours Biden’s $3.5trn infrastructure bill