Central Banking
Riksbank holds rate and signals earlier cuts
Risks including supply shocks due to ‘geopolitical unease’ remain
Fed holds rates and dampens expectations of March cuts
Powell says FOMC is unlikely to agree on early loosening but rates are likely at their peak
BoE holds rates and cuts 2024 growth forecast to 0%
‘More evidence’ needed before cuts, though bank expects inflation to reach 2% by 2026
Debtor nations face ‘long-term pain’, BdF research finds
Long-term debt issued when rates were higher will create burden, Banque de France paper says
Basel’s cherry-picking toughens IRRBB shock scenarios
European banks want higher outlier thresholds to offset higher confidence level in new standard
US government-sponsored mortgage securities ‘amplify crises’
Paper says dynamic between lenders and Fannie Mae/Freddie Mac not conducive to financial stability
US rural economies are ‘main losers from employment trends’
Fed research says automation and globalisation have militated against job creation in remote areas
Russia hosts Brics talks over cross-border use of CBDCs
Summit takes place in Moscow with bloc’s new Middle Eastern and African members
ECB paper examines household inflation differences
French and German consumer data shows heterogeneity is driven by product choice, research finds
BoJ policy-makers signal end to negative rates
Summary of meeting shows board members see higher chances of achieving virtuous wage-price spiral
EquiLend cyber hack exposes trade reporting dependence
Ransomware attack at securities lending platform disrupts regulatory compliance
Spike in oil prices ‘could boost South Korean economy’
BoK researchers say a rise driven by higher global economic activity might boost domestic growth
Interconnectedness of financial system ‘amplifies climate risks’
Bank of Canada research says funds’ responses to climate shocks could exacerbate related losses
Public perception is key for stablecoin peg – BIS paper
Market sentiment is important in determining whether currencies remain at par with fiat money
DSGE models should include housing supply, ECB paper argues
Author says adding financial sector and new houses improves forecasting accuracy
China pulls report on merger of ‘bad banks’ with SWF
Tie-up could help separate government’s roles as regulator and shareholder in managers of bad debt
Governance and diversity at the Federal Reserve
Could changes in governance practices have contributed to poor performance in 2021–22? asks Jeffrey Lacker
Strong consumer spending ‘does not preclude US recession’
Dallas Fed research argues that declines in residential investment are a better bellwether for a downturn
Italian governor concerned over Russian asset seizure, officials say
Panetta says renminbi has overtaken euro as international currency since Russia invaded Ukraine
Swedish central bank affected by ransomware attack
Riksbank’s HR and payroll reportedly still impeded after hackers targeted third-party cloud provider
Singapore keeps monetary policy unchanged
Central bank expects core inflation to fall gradually amid lower import and domestic costs
Hong Kong court orders liquidation of Evergrande
Decision could lead to complex winding-up process for debt-laden Chinese developer
CBDC is inevitable
Central bank digital currency should be thought of as a platform rather than a product, writes Dave Birch
Turkish central bank raises rates but hints tightening is over
Governor denies accusations against her family as inflation continues to rise