Central Banking
Central bank’s headline inflation projections improve significantly
Central bank’s headline inflation projections improve significantly over near term, but inflation still forecast to climb to 5.3%
CBSL resorts to monetary financing amid wait for IMF talks
Central bank promises loan to government will be unwound in the first quarter of 2019; IMF talks scheduled for mid-February
Ireland ready to shield insurance policy-holders in ‘hard Brexit’ – deputy governor
Irish financial system should prove resilient if UK quits EU without a deal, Ed Sibley says
UK lawmakers demand fix for RPI miscalculation
House of Lords says Statistics Authority’s failure to fix error has left many members of public poorer
Costa Rica credit rating downgraded two notches amid persistent fiscal deficit
Fitch Ratings revised rating down despite early repayment of central bank and fiscal reforms
ECB revamps code of conduct for high-level officials
National governors and SSM board members must adhere to policy communication rules
Norges Bank excludes three companies from SWF
Central bank sanctions firms due to human rights and environmental violations
EU supervisors set out process for cross-border AML data sharing
Agreement will allow ECB and national supervisors to share data on suspected money-laundering
PBoC makes record fund injection into financial system
Central bank pumps 570 billion yuan into system via open-market operations; move follows other measures to increase liquidity amid slowing growth
CBRT holds main rate steady at 24%
Turkish central bank keeps rates high as signs emerge of a “rebalancing trend” in the economy
Growth keeping global debt-to-GDP just below all-time high – IIF
Latest monitoring report puts debt at three times global GDP, with some countries especially vulnerable
BoE’s leveraged loan research draws interest from overseas
UK exposures are modest but firms in US and Japan have bigger holdings of CLOs, which carry echoes of the subprime mortgage crisis
Sarb’s mandate will not change, president Ramaphosa says
Officials move to clarify manifesto claim following backlash
Private mints to help with £1 overseas distribution
Royal Mint will provide blanks for overseas territories but design and distribution is responsibility of individual regions
Bhutan strengthens relations with India through payment co-ordination
New proposals will limit the number of tourists having to bring cash into the countries as ATMs and POSs become interoperable with local cards
Moldovan central bank suspends rights of lenders’ shareholders
Move is latest effort to enforce law in notoriously difficult banking sector
Lebanese central bank orders wire services not to use dollars
Economy under strain from political division, fiscal shortfall and refugee crisis
Key Brexit vote complicates outlook for UK economy
Vote this evening leaves UK’s political and economic future uncertain; analysts optimistic on outlook for sterling
Low US unemployment unlikely to foster sudden wage growth – research
Fed projections see unemployment rate falling to 3.5% by the end of 2019
MAS to gain powers over wider set of payment services
Central bank will also enforce new limits for coin payments
Adoption of a privately-issued digital currency can reduce social welfare, researchers find
Optimal policy can be achieved through central bank digital currency, authors say
AML/CFT regulation to cover crypto assets – Sarb
New proposals will construct a “limited” regulatory framework for crypto assets
Fed diversity is focus of new legislation
New bill would ensure at least one gender- and one ethnically-diverse candidate are interviewed for vacant president roles
Basel Committee softens impact of revised market risk framework
Final framework cuts expected increase in average capital requirements almost in half; committee may consider some further rule-making in 2019