Central Banking
Biden stimulus will not move inflation much – Chicago Fed paper
Research finds most models predict very limited and short-term increases
Bank of Israel: vaccination fuelling rapid recovery
Inflation expectations are increasing, but headline figure still well below target
BoE broadens access to RTGS with ‘omnibus’ account model
Accounts will allow payment system operators to ‘pool’ client funds for transfers in central bank money
BoE and Treasury launch CBDC task force
Central bank also forms new division to lead “internal exploration” of digital currency
Kuwaiti central bank orders local national quota for bank managers
Central bank says 70% of management of local banks must be Kuwaitis by 2023
Fed may make Fima permanent – SF president Daly
SF Fed president says policy-makers also considering creation of domestic repurchase facility
Argentine court drops charges against governor
Former governor Alejandro Vanoli and other officials cleared in dollar futures scandal
Sarb projects ‘sharp but incomplete initial recovery’
South African inflation forecast to rise on higher electricity and water prices
Sweden may have a digital currency in five years, says Riksbank governor
Sveriges Riksbank is testing e-krona pilot as Swedish cash use falls rapidly
Turkish central bank holds rates despite rising inflation
New governor’s first meeting says Turkish economy faces risks “in both directions”
RBI to give some non-banks access to payments systems
Indian central bank to allow non-bank payment service providers to use payments architecture
Taiwan dollar weakens over fears of US action
US Treasury expected to label Asian ally a currency manipulator on next exchange rate report
Covid-19 support may have created “zombie firms” – BIS economists
Policy-makers should impose tighter lending standards and reform bankruptcy law, analysts argue
MMT rests on ‘untested statements’ – Richmond Fed paper
Authors warn that modern monetary theory rests on shaky foundations
PBoC to more than double scope of stress tests
Chinese central bank will stress-test over 4,000 banks and plans to include all banks by 2023
IMF voices fears over Madagascar central bank’s local gold buying
Central bank is buying unrefined gold, but IMF officials warn safeguards are at risk
Syrian president fires central bank chief
Karfoul struggled to deal with further sharp slide in Syrian currency amid civil war, reports say
Central Bank of Barbados closes office after volcano erupts
Ash cloud from neighbouring island causes central bank to suspend in-person operations
Inflation in Sweden rises to 1.9%
Analysts say stable core inflation means Riksbank is unlikely to tighten policy
‘Dark trading’ approach shows UK regulators are more ‘nimble’ – FCA
UK regulator has not seen evidence that dark trading harms market participants
ECB’s digital euro consultation says public worried over privacy
Nearly half of responses to ECB come from Germany
Emerging-market central banks lead on women’s empowerment
EME central banks have more women at staff level and in senior positions, but there are deep disparities worldwide, with childcare availability appearing to be a major cause
Chief economist Haldane to leave BoE
Influential thinker on regulation and monetary policy leaves UK central bank to lead think-tank
Demand for US services likely to rebound- Cleveland Fed survey
Study says US consumers have become more optimistic, except older people