Central Banking
Hélène Rey on cracking the code to the global financial cycle
The dollar and financial cycle move together. For the first time, economists think they know why
Central Bank of Kenya lowers rate by 75bp
Bank says there is scope for further easing following its second cut this year
Energy price rises have stronger effects than decreases – study
Asymmetric effects of gas and crude oil price rises could lead to tighter monetary policy
Reserve Bank of India holds interest rates
Decision comes despite weakening inflation
Macro-pru should interact with other policies – Chile’s Costa
Governor calls for joined-up thinking as Santiago hosts FSB Americas group meeting
Reserve Bank of New Zealand cuts policy rate by 50bp
Inflation is converging towards 2%, policy-makers say
Uruguay again holds policy rate at 8.5%
Inflation stays within target, but central bank remains cautious as neighbours begin easing
Fiscal upside, economic downside to EU deficit procedure – study
Fiscal consolidation sometimes led to restrictive pro-cyclical stances, research finds
ARRC replacement aims to dodge rates ruckus
Fed’s new reference rate committee wants to avoid reigniting battles about term and credit-sensitive rates
The hidden dynamics behind China’s BoP ‘errors and omissions’
Marcello Minenna highlights the possible implications an unaccounted-for £30bn has for the PBoC
ECB will ‘probably’ cut rates in October – BdF governor
Central banks can help fight against political extremism by “restoring trust”, says Villeroy de Galhau
India agrees currency swap with Maldives
RBI to provide $760bn in support to archipelago
Former governor warns against interference with Bank of Thailand
Tarisa Watanagase urges selection panel to act independently when picking new chairman
Stablecoins are not ‘crypto safe haven’ – ECB paper
Shocks in crypto markets significantly reduce stablecoin market capitalisation, researchers find
Moldovan central bank launches digital auto insurance certificate
National Bank of Moldova moves away from paper to encourage take-up and increase security levels
FDIC’s McKernan wants single capital stack in Basel III endgame
Rebuffing Barr’s offer of a partial rollback, Republican director also targets op risk framework
Ethiopian central bank allocates $175 million for fuel payments
Decision follows awarding of licences for currency exchange to non-bank FX bureaus
Lessons learned on macro-pru policies
Macro-prudential tools are proving their worth although use cases vary by country; integration into over-arching policy frameworks remains a challenge
New Zealand looks into expanding RTGS access to smaller firms
Central bank seeks to strike balance between opening access and mitigating risks from non-banks
MAS boosts support for training financial leaders
Singapore’s central bank to provide more funding to upskill promising finance professionals
ECB stands firm on fining banks over climate risks
Board member says lenders could pay daily penalties for not addressing environmental concerns
Close ‘huge’ gender gap to boost GDP – North Macedonia governor
Head of central bank says supporting female entrepreneurs could add $5trn-6trn to global economy
The Netherlands Bank overhauls nowcasting model
Economic dynamics have become more complicated since the pandemic, economists say
Navigating uncertainty: the impact of the 2024 US elections on emerging markets
Franklin Templeton analyses possible outcomes of the US elections, the effect on trade, foreign and domestic policies, market impact and implications for emerging market (EM) economies