Central Banking
Post-GFC market segmentation ‘caused dollar costs to rise abroad’
Dallas Fed research sees new role for US in providing central bank swap lines
South Africa holds rates in unanimous decision
Governor reiterates inflation must fall further before there can be cuts
China’s central bank to set up new credit market department
Unit will be tasked with guiding banks’ lending support for key areas of finance
PBoC and HKMA strengthen financial ties
Hong Kong to accept onshore bonds as collateral for RMB funds, as PBoC looks to open up repo market
Faster deposit flows will affect bank runs, ECB paper says
Bindseil and Senner say several factors are increasing size and speed of deposit runs
Tanzania switches to interest rate-based monetary policy
Central bank had previously used quantity-of-money approach
Central banks face ‘black box’ effect in AI, warns BIS
Institution’s latest bulletin underlines the opportunities and challenges of machine learning
Internal investigation criticises former Boston, Dallas Fed chiefs
Report says officials created appearance of conflict of interest, but stops short of alleging criminality
PBoC announces biggest cut in banks’ reserve ratios for two years
Governor says 50bp reduction will free up 1 trillion yuan into financial system
HKMA proposes easing data-sharing rules between banks
Hong Kong authorities cite need to tackle digital fraud and money laundering more effectively
Wage growth ‘has not impacted US inflation’, says Boston Fed
Study finds pay still has some way to go before reaching a level that would affect consumer prices
Over half of ECB staff think Lagarde’s work is poor, union claims
ECB rejects survey as flawed and says its own figures show high levels of pride among staff
Lower immigration affecting US household spending power
Low immigration has contributed to increased prices of consumer goods, argues Atlanta Fed
Venezuela shuts down state cryptocurrency
Petro overseer had been embroiled in scandals, including over $21.2 billion of missing oil payments
RBNZ proposes changes to mortgage regulations for banks
Central bank plans to bring in debt-to-income requirements to reduce financial stability risks
Japan’s central bank leaves negative rates policy unchanged
BoJ governor sees progress in reaching inflation target but won’t say when ultra-loose lending will end
Monetary policy is tight enough, says head of Atlanta Fed
Raphael Bostic said he expects rate cuts in Q3, but could advocate for them sooner
Monetary policy affects insurers’ balance sheets, ECB paper finds
Eurozone insurance firms increase asset holdings and risk-taking if policy loosens, researchers say
Reasons for refusing mortgages ‘do not explain racial disparity’
Minneapolis Fed’s study challenges explanations given for why people of colour are treated differently
China’s central bank holds key lending rates
Decision to keep one- and five-year LPRs is in line with analysts’ expectations
BoK examines South Korea’s post-Covid jobs recovery
Research points to rebound in services and employees’ desire for greater work-life balance
Kosovo’s central bank rules cash transactions must be in euros
From February 1, currencies such as the Serbian dinar will not be accepted
Monetary policy transmission may have grown weaker – Dallas Fed
Research finds countries with slow and fast pass-through rates experience similar demand effects
China revises rules for PBoC’s monetary policy committee
New rules form part of Communist party’s drive to strengthen control over domestic financial sector