Central Banking
Central bankers share vision for ‘business as usual’ big data
Panellists offer advice on how to build the infrastructure for good data governance
PRA official says financial system must become more cyber-resilient
Firms now view cyber as one of the biggest risks to their operations; regulators must outline what they expect from firms in terms of resilience
Fed hikes another 25 basis points
Hike comes as US inflation runs at target, and emerging markets complain of funding squeeze; Powell reveals change to communications approach
ECB unlikely to commit to QE end date in June meeting
Most economists expect gradual reduction of asset acquisitions, and an open-ended programme
Bank of Lithuania to regulate ICOs that mimic securities
Where coin offerings have properties of securities, the central bank will have oversight; financial institutions could have licence withdrawn if regulation is not followed
QE boosts bond prices above ‘fundamental’ level, Banque de France paper finds
Paper uses experimental techniques to simulate QE’s effects on bond markets
People: US Senate committee approves two Fed governors
Philippines appoints monetary board member; Cleveland Fed appoints director at Pittsburgh branch
BIS paper studies evolving renminbi exchange rates
It is “premature” to declare a stable zone for the renminbi, the paper concludes
Sarb should adopt mid-point in inflation target band – IMF
Inflation expectations could be lowered with the explicit adoption of a mid-point at an “opportune time”, fund says
Central banks need a consistent approach to accounting for monetary gold
Kenneth Sullivan presents a case study highlighting the challenges for central banks in consistently accounting for monetary gold
French government raises counter-cyclical buffers for first time
“Economic and political uncertainty” call for hike to “moderate level” of 0.25%, council says
PBoC accepts lower-grade and green bonds as collateral
Central bank’s move may indicate a shift of emphasis in setting monetary policy
Egyptian central bank pledges to write off companies’ debt in ‘crisis’ measures
Debt relief and increased funding could cost up to $5.6 billion, governor says
Sia given green light to access Eurosystem’s instant payment system
ECB permits first network provider to give access to new Tips platform
Cash usage unlikely to disappear – Atlanta Fed
Universal access, in-person shopping and preference among low-income groups support cash
Andy Haldane rethinks traditional growth narrative
New research implies growth did not “flatline” before the industrial revolution
Bank of Finland working on payments backup system
Board member says Finland must be able to maintain control of “critical infrastructure” should disruptions occur
Paul Tucker: UK supervisors’ powers may go too far
Former BoE deputy says some central banks have too much power and not enough accountability; argues QE was necessary but problematic
SBP devalues rupee again as reserves dwindle
Two years on from its last IMF rescue package, Pakistan is again experiencing balance of payments troubles
Real surges as central bank announces currency swaps
Brazil has struggled with tighter financial conditions, governor Goldfajn says
Minneapolis Fed paper examines DNA of crypto assets
Cryptography can identify modifications in transaction records without a central structure
Bank of Canada to publish more ‘up-to-date’ analysis of stability risks – Wilkins
Central bank will reduce frequency of FSR, deputy governor says, but compensate with new online portal
Hong Kong filmmakers found guilty of possession of fake banknotes
The banknotes were props in an award-winning film; HK filmmakers association called the conviction a “big joke”
South Sudan president again sacks central bank governor
Country faces “political and economic collapse”, expert says