Central Banking
Is there a path between the Covid abyss and chasm of financial risk?
Macro-prudential policies are being used to prevent economies from falling into the Covid abyss while also ensuring that a correction in ever-higher asset prices do not crush the economy. Are both objectives achievable?
New Turkish governor presides over sharp rate rise
Erdoğan changes rhetoric to say country must be prepared to swallow “bitter pill” to beat inflation
Fed and US Treasury in public dispute over emergency aid
Fed disagrees with Treasury secretary over proposal to end five stimulus programmes
Philippines central bank makes unexpected rate cut
Inflationary pressures are low and cut will boost confidence, central bank says
Brainard criticises Fed’s diversity efforts
Lack of diversity is holding back the economics profession, says senior Fed official
CBDC could improve banking stability – Haldane
BoE chief economist envisages banking sector split between payments and credit provision
Asean central banks call for joint action on climate risk
Asean policy-makers have work to do if they are to catch up with climate leaders, report says
Nigerian central bank freezes protestors’ accounts
Central bank says it is carrying out routine investigation, but protestors say it is targeting them
Kganyago says Sarb needs support from fiscal and macro policy
Governor says monetary policy cannot improve South Africa’s growth alone
Eurozone inflation remains at -0.3%
Persistent deflation will be key focus at next ECB policy meeting on December 10
Bailey urges co-operation on cyber risk
BoE governor says cyber risks can “go the distance”
Regulators voice concerns over cloud risk
Failure of big cloud service provider could cause “a very large shock”, says NY Fed exec
RBI intervenes as another bank comes close to collapse
Failure of Lakshmi Vilas Bank highlights strain on Indian banking sector
Canada launches climate risk scenario pilot
Project will test volunteer institutions for their exposure to climate change risk
Lower r* demands new ECB inflation target – economists
Average inflation targeting is one possible alternative, says Jordi Galí
Zambia MPC holds rates despite stability concerns
New governor notes a cut to interest rates would have been “expected”
German contactless payments rose due to Covid-19
Bundesbank board member says pandemic changed consumers’ use of debit card system
Iceland cuts rates to new record low of 0.75%
Central bank revises down 2020 GDP forecasts by more than one percentage point to -8.5%
US Senate rejects Shelton for Fed job
Republicans fail to muster enough support for controversial candidate, but second vote is possible
Public policy lines blur: implications for reserve managers
Crisis-fighting has pushed central banks into new forms of risk-taking, and this is now spilling into reserve management, says Jennifer Johnson-Calari
Eurozone’s ageing is lowering interest rates – BoI paper
Natural real interest rate is likely to reach its lowest point around 2030, researcher finds
Egyptian central bank cuts policy rate again
Move is needed to support economy against second Covid-19 wave despite rising inflation, MPC says
FSB to tackle systemic risk in non-bank sector
Regulation likely but policy-makers want to avoid damaging an important funding source
PBoC makes $122 billion injection as default fears rise
Chinese central bank makes year’s largest market injection days after large power firm defaults