Central Banking
Fed holds rates amid pressure from White House
Powell says he has had no contact with Trump since president said he would “demand” easing of policy
Bank of Canada cuts rates and ends quantitative tightening
Macklem says monetary policy cannot offset negative effects of tariffs
RBI injects billions into liquidity-strapped financial system
Analysts say decision points to rate cut by India’s central bank in February
India reports hundredfold growth in digital payments since 2012
Central bank’s deputy governor says cross-border payments remain expensive and slow, however
Sri Lanka holds rates amid persistent deflation
Central bank expects price falls to intensify owing to cuts in electricity tariffs
Czech governor wants central bank to add bitcoin to reserves
Michl to make proposal to CNB’s board, while recognising cryptocurrency “bubble” could burst
BoE’s Jackson flags dangers of ballooning prime brokerage market
Bank’s executive director says new players will need to get up to speed on risk management
Trump’s tariff threats fuel corporate FX hedging revamp
Treasurers mull options and longer-dated hedges in face of mixed signals on extent and timing of measures
Palestine Monetary Authority resumes banking services in Gaza
PMA also announces loan deferral programme, though analyst says few will be able to repay
Medium is the message, say Bank of Spain researchers
Coverage of policy decisions has greater impact than central banks’ own comms, study finds
IMF tells Kosovo to strengthen central bank reserves
Fund says government should deposit equivalent of 1.75% of GDP as emergency buffer
Non-banks and banks are interwoven, says ex-RBI official
Policy-makers should study connections between them when crafting regulations, argues Viral Acharya
Bank of Canada study calls for standard accessibility practices
Academics say current banking infrastructure is inadequate for people with disabilities
Andrea Enria joins BoE’s prudential regulation committee
Former top ECB supervisor becomes UK central bank policy-maker
UK regulator says firms are under-reporting money mules
Financial companies cite challenge of establishing criminal intent
Trump says ‘no’ to CBDCs
Digital asset schism between US and eurozone widens
People: Palestine Monetary Authority appoints new governor
Plus board appointments in Colombia and UK, and Central Bank of Iceland’s new chief economist
Lagarde laments looming pressure on central bank independence
ECB president nevertheless says that loss of independence remains “unlikely”
Pakistan delivers sixth consecutive rate cut
Decision taking benchmark rate to 12% means policy has been eased by 1,000bp since last June
Unexpected rate hikes push down commodity prices – research
The most traded commodities are more vulnerable to monetary policy shocks, BoE paper shows
Beyond the benchmark: redesigning emerging market debt allocations
Franklin Templeton analysis shows popular EMD indexes are limited by their focus on the largest and most developed countries in the world, resulting in unattractive spreads and limited risk diversification
Central banks need to step up their crisis management plans
Patrick Honohan argues that robust preparation can better protect reputations in the event of a crisis
Trump’s rate cuts ‘demand’ spells trouble for Fed – economists
Comments will cause problems for central bank and threaten its independence, academics claim
Philadelphia Fed documents troubling credit trends in US
Revolving credit and delinquencies on rise as minimum payments hit peak for the decade