Central Banks
Hungary eases policy for first time since September 2024
Governor insists central bank is ‘not starting a rate cutting cycle’
Policy normalisation may cause economic contraction – BoJ study
Effects greater under less credible forward guidance, central bank researchers find
Lagarde downplays odds of early exit
ECB president uses interviews to say she is on a ‘mission’ with a ‘baseline’ of serving out her term
High tariff regime in the US is ‘here to stay’ – BoE’s Taylor
Impact on trade flows and pricing will take years to play out, MPC member says
US firms dominate entire AI supply chains – BIS bulletin
Tech giants operate across all layers, including designing chips and running clouds, study says
Europe’s strength in numbers could mitigate risks, says Panetta
Italian governor calls for progress on capital markets union to help guard against geopolitical threats
Lower reserves share not a sign of dollar’s decline – paper
Growth of FX coffers in countries holding fewer greenbacks dilutes currency’s share, NBER study finds
Philippines may not reach digital payments goal, says governor
Rate cuts will have limited impact on growth, despite BSP having ample policy space, says Remolona
Financial stability seen as top risk from private digital money
Concerns differ somewhat by region
Reform rules or risk ‘coercion and mercantilism’ – Lagarde
ECB president says it is better to revise current international order than to abandon it
Shipping congestion drives up inflation – IMF paper
Study of tracking data shows delays at ports are reflected in headline inflation
Banxico minutes signal potential resumption of rate-cutting cycle
One-off hit of tax rises and tariffs could see rates cut in March
Fed paper touts prediction market data for monetary policy
Sites like Kalshi could become “new benchmark” for measuring expectations, researchers say
Kashkari says research criticism is new threat to Fed independence
Minneapolis Fed chief says comments by NEC director are continuation of pressure on monetary policy
Majority of CBDCs designed to be domestic only
But a fifth of central banks are working on multi-currency CBDCs
Bank Indonesia holds rates again to defend currency
Weak rupiah to delay rate cuts as ratings downgrade weighs on investor appetite, analyst says
Romanian governor targeted by new deepfake
Fake advertisements push financial investments using Mugur Isărescu’s imagery
Brazil’s central bank shuts down lender connected to Banco Master
BCB says bank had “compromised economic and financial situation”
Dallas Fed researcher cautions against expansionary policy
Study of US in the 1970s says oil shocks were not primary driver of inflation
FOMC minutes show sharp division in projections
Some members argue rates may need to be raised while others make case for easing