Central Banking
RBI overhauling approach to risk management – annual report
Initiatives include improvements to enterprise risk management, risk tolerance and modelling
Eurozone inflation to remain at 1% in August – official data
Below-target inflation may support loosening announcement by ECB on September 12
ECB and EU auditors sign deal on supervisory data access
Auditors will view sensitive documents in controlled environment, ECB says
Fears about eurozone countries weigh on credit creation – research
Perceptions of weakness at individual banks are less important – Bank of Portugal paper
Europe’s regulators grope for value of software
EBA looks for right approach to classifying financial firms' software investments
Argentina opens IMF talks as crisis deepens
Government extends debt maturity and pledges reserves will not be used to repay international investors
BoE policy-makers face fallout from political chaos
November policy decision could be unveiled on an election day; new analysis by MPC members suggests worst economic impact yet to come
US senator calls for hearings on Fed’s role in 2020 elections
Republican accuses former NY Fed chair Dudley of trying “sabotage” Trump’s trade talks
BIS paper studies spread of global currency trading
Authors examine “patterns of diffusion” to understand rise of the renminbi
Israeli central bank faces hard choices, analysts say
MPC says Israeli currency’s strength is helping to keep inflation below target
Negative rates could lower inflation expectations – San Fran Fed paper
Japanese inflation expectations fell after BoJ introduced negative rates, researchers find
Norges Bank recommends allowing SWF investment in unlisted companies
Current regulation only allows investments in private firms that have expressed intention to go public
China changes mortgage rates anchor to curb housing risks
Home loan rates may be set higher to avoid real estate bubbles as central bank seeks lower rates for rest of the economy
Bank of Jamaica cuts rates
Move aims to keep inflation within its target band
Iceland cuts rates again
Decision follows rate reductions in May and June, placing key rate at 3.5%
Fed should scrap apolitical stance, urges former senior official
Dudley says Fed should set rates with Trump’s re-election chances in mind
BdF paper looks at FOMC hawks and doves
Predictions of rate-setters with hawkish reputations often biased towards higher inflation – researcher
Carstens warns of ‘serious consequences’ from retail CBDC
BIS chief envisages system with wholesale digital currency alongside private retail payment systems
Communication has to be two-way – ECB’s de Guindos
Communicating with markets influences behaviour, affecting signals received in return, says vice-president; ECB has created new survey of consumer expectations
Market competition fuels volatility in frail regulatory environments – Bank of Spain research
Increased instability associated with higher default rate triggers a 3.3% loss of output
Liberian central bank officials plead not guilty in court
Court sets very high bail level for senior officials as “fired” governor remains in office
RBI hands over chunk of its capital to government
Nearly $25 billion transferred to government as long-awaited Jalan report is submitted
Economists publish ‘crash course’ on euro crisis
Brunnermeier and Reis say framework is designed to help students grasp the macro-financial roots of recent crises
RBA open to unconventional policy measures – deputy governor Debelle
Quantitative easing may be on the cards if central bank cuts rates to 0.5%