Central Banking
Fed stress-testing operational readiness of discount window
Experts say consultation on improved ops should be accompanied by focus on willingness to borrow
ECB cuts rates by 25bp
Eurosystem disinflation “well on track” and council “did not discuss” TPI, says Lagarde
RBA official: industry needs ‘common vision’ for fast payments
Assistant governor says transaction costs and end users’ requirements need to be addressed
Bank of Canada opts for another 50bp cut
Governor says Trump tariffs would be “highly disruptive” if implemented as proposed
Switzerland cuts rates by 50bp
SNB changes conditional inflation forecast, expects lower inflation compared with September
FSB praises France’s efforts to monitor crypto market
Review calls on authorities to facilitate Mica implementation and enforce regulations faster
Brazil raises rates again amid fiscal woes
Central bank tightens policy by 100bp in unanimous decision as inflation continues to overshoot
Stiglitz offers alternatives to standard theories of economic fluctuations
Nobel prize winner argues that endogenously driven variations are key to understanding economies
BIS highlights market ‘uneasiness’ over bond issuance
Claudio Borio says fiscal outlook worldwide is “acutely worrying”
Phillips curve is convex in short term – NBER paper
Data on US and UK shows firms respond more to positive than negative demand shocks
Majority have privacy concerns over CBDC – RBNZ survey
Findings show access to physical cash still important; private sector not meeting payment needs
ADB approves $500 million loan to Indonesia
Policy-based facility focuses on expanding vulnerable groups’ access to financial services
Bulgaria ‘ready for euro’ in January – central bank governor
Radev says decision to join currency is now in hands of politicians
FSB urges non-banks to improve liquidity risk management
Report lists eight recommendations on how funds can answer margin and collateral calls
US inflation expectations tick up across all time horizons
NY Fed survey finds more respondents expect prices to rise over one- three- and five-year timeframes
Trump says Powell would resign as Fed chair ‘if I told him to’
President-elect also claims tariffs would make US rich but cannot guarantee that prices will not rise
South Sudan’s president fires central bank governor
Garang replaced by Johnny Ohisa Damian, who previously held position before his own dismissal in 2023
Reserve Bank of Australia holds policy rate again
Central bank softens hawkish stance amid weak economic growth and slowing inflation
China shifts to ‘moderately loose’ monetary policy stance
Officials also vow to pursue “more proactive” fiscal stance next year
Why there is no fence in effective regulatory relationships
A chief risk officer and former bank supervisor at the BoE says regulators and regulated are on the same side
BoE’s non-bank liquidity facility to open for applications in 2025
Other central banks have shown “lots of interest”, says deputy governor
Central Bank of Ireland defends Israeli ‘war bond’ approval
Critics say bank is complicit in funding genocide, but governor says it is bound by law
India appoints Malhotra as central bank governor
Government chooses not to renew Das’s term for another three years
CNB to set up new research and statistics department
Central bank says restructuring will boost its ability to “analyse and model economic trends”