Central Banking
BoE’s mandate may be too broad, warns Mervyn King
Former governor chats with Paul Tucker on independence and central banks’ optimal remit
Tariffs already raising US inflation – Fed study
Researchers say trade policies were starting to affect consumer prices in March
Brazil and China agree currency swap line
BCB says it is in talks to establish similar arrangements with other central banks
Iran launches second phase of payments link with Russia
Iranian stores to accept Russian bank cards via mobile app
EBRD outlook turns gloomy after US tariffs
“Not a very happy picture” for world economy, says institution’s chief economist
Ex-BoE official calls for active monetary response to gilt shocks
Clear framework needed to address government bond market volatility, Sushil Wadhwani argues
Bank of Finland makes renewed case for instant payments system
Solution would strengthen national security, bank says
East Africa governors discuss delayed single currency launch
Leaders adopt “masterplan” to modernise and integrate payments systems
Eurozone monetary policy must remain ‘firmly’ neutral – Schnabel
ECB board member cautions against overreacting to undershooting
Bank of Burundi issues ‘world’s largest banknote’
Commemorative bill measures 400mm by 288mm and is on sale at €2,200 apiece
Rate hikes have created debt-servicing difficulties – ECB study
Research also points to overall robustness in eurozone’s household lending sector
Hedge funds burned as Hong Kong dollar bets implode
However, market participants still seem satisfied with the HKMA’s commitment to defending currency peg
Spain imposes capital buffers on Norway-exposed bank
Santander’s exposure to Norwegian market is above exemption threshold
Global reset is testing emerging markets – Gopinath
IMF’s deputy managing director says small economies must be ready to respond forcefully to inflation
Peru cuts by 25bp in surprise move
Policy rate now approaching level “estimated as neutral”, central bank says
SNB to hand out cash earmarked for exchange of defunct notes
Up to $1.07bn, previously reserved for bills that were never exchanged, will go to government and aid
BoE governor gives optimistic forecast about scenario approach
Bailey says new method allows for better projections, given growing frequency of ‘black swans’
What drove the Taiwan dollar surge?
Foreign speculators, carry unwinds and central bank inaction fuelled the 10% move, not just life insurers, say traders
Albania, Norway, Sweden hold rates, Poland cuts by 50bp
Falling food and energy prices amid high trade uncertainty prompt cautious approaches
NGFS adds near-term climate scenario to analytical toolkit
New framework looks at economic impact of environmental changes in next five years
Brazil hikes rates again as inflation still above target
BCB tightens by 50bp to 14.75% and leaves next decision open
Bank of England cuts rates to 4.25% as disinflation continues
Effects of US tariffs on growth will be smaller in UK than elsewhere, central bank says
The cost of ‘US liberation’
Stephen Millard outlines NIESR’s latest analysis of the Trump tariffs, as risks tilt to the downside
Fed holds rates as experts sound alarm over stagflation
FOMC says risks have risen on both the employment and inflation sides of its mandate