Central Banking
Covid-19 data gaps threaten US recovery, researcher says
Minneapolis Fed economist urges statistical agencies to include diagnosis questions in surveys
Early non-employment ‘scars’ workers – Bank of Italy paper
Effect is particularly severe for non-graduates and when conditions are good, research finds
IMF welcomes Rwandan central bank’s Covid response
National Bank of Rwanda funnelled liquidity to banks and cut policy rates
Nigeria’s central bank unveils sandbox and QR guidelines
Both initiatives should help foster innovation within the payment space
BoE must improve understanding of QE – report
Lack of understanding has prevented BoE’s ability to build public trust in new policy tool, report says
Chile’s central bank to boost reserves by over 30%
CBC will purchase $12 billion to bring reserves to 18% of GDP before IMF credit line ends
BIS research tracks changing consumption patterns
Pandemic has led to “catching-up” process in e-commerce, bulletin article says
Riksbank to increase risk buffer
Swedish central bank concerned about future effects of asset purchases on balance sheet
Banks must be able to explain AI models – Brainard
Fed governor says solving ‘black box’ problem is important first step in improving AI governance
BdF paper looks at French law on climate disclosures
Law led to sharp cut in French firms’ holdings of fossil fuel-related instruments, research finds
RBI tells banks to prepare for delayed impact of Covid-19
Banks have avoided worst of the pandemic, but they must now raise capital, central bank says
US Fed facility bought Libor bonds with ‘weak’ fallbacks
Industry figures express surprise over purchases linked to doomed benchmark
Inflation could ‘approach’ FOMC target quicker than expected – George
Kansas City Fed president says decline in inflation has been idiosyncratic
MAS urges Singaporeans to use digital ‘red envelopes’ during Lunar New Year
E-hong bao help reduce the carbon emissions of printing banknotes, MAS says
Bank of Lithuania paper explores spillovers of US policy uncertainty
Authors find “significant recessionary and deflationary effect” and synchronous response worldwide
Dutch cash deposit ATMs to close after explosive robbery
Banks and police are struggling to combat a spate of ATM bombings
PBoC eases cross-border yuan settlement policy
Central bank promotes use of yuan in cross-border settlement and financing
ECB says new data highlights stabilising effect of inflation expectations
Analysts argue that new approach to analysing surveys has “important practical advantages”
BoE’s Tenreyro says negative rates likely to work in UK
Looser monetary policy might help limit “scarring” to the economy, says MPC member
Higher economic uncertainty is harbinger of civil conflict – Bank of Spain research
Spain suffered rising levels of economic uncertainty leading up to 1936–39 civil war
Some firms need to provide ‘better’ information to BoE – David Bailey
Executive director says BoE must have sufficient influence over supervisory outcomes post-Brexit
IMF raises precautionary balance target by a quarter
Some executive board members wanted higher raise amid uncertainty over pandemic’s impact
Lebanese central bank chief denies ‘Ponzi scheme’
Salameh denies corruption and mismanagement charges, and says currency must float
Terms of trade shocks not symmetric – BoE paper
Developing countries particularly vulnerable to export shocks, study finds