Central Banking
Soma manager predicts transition success for US reserves
Roberto Perli said short-term funding markets will likely not see significant disruptions
FedNow – at last
The instant payment system might help fix the US’s rusty payment rails, but it also faces competition, says Dave Birch
Bond market turmoil could aid Fed policy, say FOMC members
Phillip Jefferson and Lorie Logan say financing points to strong economic momentum
Burundi authorities arrest former governor
President fired Murengerantwari on October 8 without explanation
EME officials predict volatility from ‘higher for longer’ rates
Fed’s policy set to worsen environment, say officials from Peru, Colombia and South Africa
Mexican inflation slows slightly
Headline inflation remains over target, as analyst warns food and fuel prices could rise
BoE to conduct ‘desk-based stress test’ for 2024
Financial policy committee warns of some risks in UK corporate and household finance
Irish government to create two sovereign funds
New law will mandate government to deposit up to 0.8% of GDP in two funds over next decade
Riksbank to sell reserves to hedge currency risk
Central bank aims to sell around $10.1 billion and will provide update from October 13
Inflation set to remain high into 2025, IMF warns
Soft landing looks more likely but growth is “limping along”, says Pierre-Olivier Gourinchas
Burundian president replaces governor again
President changes central bank leader for second time in two years, without giving reason
Haitian government replaces governor
Prime minister also replaces three board members in major change to central bank leadership
Peru and Uruguay cut rates again
Peru’s central bank says growth forecasts are gloomy, but Uruguay hints at end to cuts
Bank of Israel to sell $30 billion to stabilise shekel
Exchange rate fell sharply following Hamas attack on October 7
Mark Carney endorses UK Labour party’s finance spokeswoman
Former BoE governor says it is “beyond time” to put Rachel Reeves’s ideas into action
Bahrain announces new governor
Former BNP Paribas executive will take over in February from Al Maraj
UK regulator ‘welcomes’ Metro Bank capital injection
Colombian banker becomes majority shareholder of struggling lender
Claudia Goldin wins Nobel Prize for economics
Economist uses history and data analysis to identify drivers of gender inequality
Basel III implementation is behind deadline, says committee
Only a third of member jurisdictions have adopted standards
Bank of Japan steps up bond purchases
Central bank faces pressure to raise rates as yields on 10-year government bonds rise
Iraqi central bank denies it will ban all dollar cash transactions
Official says he was misquoted as dollar shortage worsens amid US-Iraq tensions
Iceland holds rates for first time in over two years
Inflation is rising, but MPC holds until new forecast comes in
Fed watchdog says supervisors could have stopped Silvergate
Failed California bank should have required permission for switch into cryptocurrency
Canadian deputy governor warns of repeating pricing pressures
Vincent argues supply shocks, technology and consolidation may make raising prices easier