Central Banking
Brazil’s central bank cuts rates to lowest level on record
MPC cites “benign” global outlook and low inflationary pressures, but calls for more reforms
Costa Rican banks to adopt IBAN by October
Adopting international standard will modernise payments system, central bank says
ECCB launches public debt investor information website
New website could help solve “long-standing issue” of excess liquidity, ECCB governor says
‘Night-time luminosity’ can shed light on growth – RBI paper
Satellite data is useful as a high-frequency indicator of economic activity, authors find
Fed cuts rates and halts balance sheet reduction
Decision sees hawkish dissents from Kansas and Boston Fed presidents Esther George and Eric Rosengren
Non-banks attracting more global liquidity than banks for first time
In Q1, more liquidity flowed to non-banks than banks for the first time in 40 years of BIS data
Maldives governor resigns amid scandal
Governor accused of interfering in money-laundering investigation
Oman finalises plan to modernise payments
Central bank hopes to bolster fintech within the country
Two-thirds of countries failing to meet global standards on inflation – IMF paper
More than half the world has not updated CPI weighting in the last five years, researchers find
Sovereign default risk affects bank assets – Bank of Italy paper
Researchers look at data on bank assets from 15 countries from 2004–18
Germany’s constitutional court rejects case against ECB supervisory powers
Plaintiffs claimed transfer of regulatory powers to European level was not covered by EU treaties
PBoC to rein in financial holding companies
New rules for financial conglomerates designed to contain risks to the real economy
IMF must do better in policing currency manipulation – RBI’s Das
Governor says shortcomings in IMF surveillance have led to US pressure on alleged manipulators
Turkish government may shift central bank to Istanbul
No official response to reports that finance ministry and central bank will move in next two years
BoJ ‘will not hesitate’ to ease further if risks crystallise
Central bank adopts dovish outlook, amid “significant” risks to economic activity and prices
Markets diverge on how far Fed will go
“There may be volatility in the markets later this week,” Fed-watcher says
The tricky business of electing a new IMF managing director
New leadership will face overrepresentation of advanced economies and possibility of dwindling resources
Ukrainian central bank to introduce IBAN for banking system
Use of system will bring Ukrainian banks closer to European Union practices
BoE to demand transparency on bank resolution plans
Central bank finalises framework for resolvability assessment
Proposal to axe Phillips curve triggers controversy
“One cannot just ignore an equation,” retorts Olivier Blanchard
Angola follows African trend of holding rates in surprise decision
Nigeria, Kenya, Egypt and Ghana have all held rates this month
Fed demands further analysis on HSBC resolution plan
Fed also questions six other large banks on assumptions made in plans, letters reveal
Bank of Russia cuts rates and warns of slowing growth
Central bank says further cuts possible as it warns of falling exports and weak investment
Cambodia launches blockchain-powered payment system
Central bank hopes to reduce money transfer costs and improve financial inclusion with the mobile-based system