Central Banking
Norway’s SWF chief to step down after 12 years
Yngve Slyngstad presided over international diversification and the adoption of real estate, while total assets multiplied by four
AML deadline prompts FCA to warn crypto firms
Regulator says firms must not mislead customers about regulatory status and outlines deadline for registration
Fed considering tools to help flow of reserves in the system
Remarks are some of the most detailed Jerome Powell has made on financial plumbing issues
BoE redesigns inflation report
New design intended to give MPC more flexibility in emphasising changing circumstances
Hong Kong cuts interest rates as economy enters recession
HKMA eases for the third time following Fed move, prompting banks to cut lending rates for the first time since 2008; economy contracts sharply in third quarter
Fed likely to ‘institutionalise’ policy framework review, Powell says
Move would likely be akin to the Bank of Canada’s routine five-year review
New Zealanders increasingly abandoning cash – RBNZ survey
RBNZ warns about the effects a cashless society may have on those already excluded from digital innovations
Brazil cuts rates to new record low as inflation drops
Rater-setters reduce key Selic rate by 50 basis points to 5%
Fed reduces rates but signals pause
Current stance of policy “likely to remain appropriate” to sustain moderate expansion, Powell says
Bank of Canada on hold but watching economy’s ‘resilience’
Governing council says economy is likely to be “tested” by trade conflict and uncertainty
Global credit to non-banks growing faster in Q2 – BIS figures
Latest global liquidity figures show rapid growth in lending to the non-bank sector
BoE’s Tenreyro comes to the defence of flexible exchange rates
Policy-maker challenges conventional wisdom in several areas of economics
Rwanda central bank spearheading cashless movement
Central bank reports e-payments have increased to 34.6% of GDP, but says there is still work to be done
Falling productivity and low interest rates may form vicious circle – BdF paper
Researchers use data on 17 advanced economies to investigate secular stagnation hypothesis
Global economic problems beyond scope of central banks – Hubbard
Economist calls for government-led structural reforms in Chicago Fed discussion
Brainard hits back again at ‘tailoring’ regulations
Resolution plan changes and potential loosening of swap margins leave the system less safe, Fed governor warns
Foreign-funded loans fuel credit booms – DNB paper
Paper finds emerging economies most strongly affected by growth in foreign-funded credit
Lebanon central bank chief calls for urgent measures to end crisis
New restrictions on foreign currency announced as prime minister says he will dissolve government
Libra unlikely to play a major role in Sweden – Riksbank research
Existing payment systems are highly integrated into companies’ cash systems, and Libra would add exchange rate risks
Cambodia extends blockchain payment system pilot
Central bank lengthens trial to end-2019 and explores including cross-border transactions
Central banks face obstacles to going green – panellists
Immaturity of bond market makes it harder for central banks to tackle climate risk; panellists discuss whether mandates should change
Brexit coin to be recycled amid further delay
Coins bearing October 31 exit date to be melted down, but Treasury says a commemorative coin will still be produced when the UK leaves the EU
Fed researchers aim to address uncertainty over demand for reserves
Demand for reserves could be between $712 billion and $919 billion, researchers find
Fed’s policy framework may incentivise reserves hoarding
However, this doesn’t seem to affect bank lending, Fed researchers find