Bonds
Higher interest rates to challenge gold in 2022
But real rates are likely to remain low in historical terms, and gold tends to perform better with high inflation
Down but not out: US Libor trading continues amid ban
Outgoing rate hits market share lows in US swaps but little dent made in listed markets
Argentina raises rates for first time since 2020
BCRA raises benchmark rate 200 basis points, as IMF talks continue
BoJ ends some emergency measures
Central bank offers more funding for loans to small businesses, but halts some asset purchases
ECB to halt PEPP purchases but expand APP
Lagarde says rising inflation will be temporary, but says ECB needs flexible monetary policy
Reserve Benchmarks 2021 – presentation
Central Banking’s reserve subject matter specialist Victor Mendez-Barreira speaks with Chris Jeffery about liquidity, reserves coverage, external partners, human and tech resources, and ESG implementation
BIS calls for systemic approach to non-banks
“It is essential to reduce the need for emergency central bank support,” says report
China sets up $31 billion financing facility for ‘clean coal’
Move comes after PBoC excluded coal projects from eligibility for 'green bonds' finance
Riksbank opens review of board members’ stock holdings
Investigation will assess whether officials violated “rules of conduct”
Asean publishes first green taxonomy for financial instruments
“Multi-tier” taxonomy aims to create realistic goals for both rich and middle-income nations
GDP-linked bonds unlikely to ‘tame debt’ – BdF paper
Linking sovereign bonds to GDP would not necessarily improve debt ratios, researchers find
BoE to start greening its corporate bond holdings
Central bank will use new climate-focused methodology to rebalance portfolio later this month
Nordic central banks stress limits to tackling climate change
Central banks face challenges in greening reserves management and monetary policy
RBNZ climate stress test planned for 2023
Central bank faces challenges in adapting NGFS scenarios to New Zealand and greening its own operations
Fed ethics officials warned against trades
March 2020 advice cautioned against stock transactions in following months
BIS launches third green bond fund in Asia
Asian Development Bank and BIS aim to foster issuance of safe green assets
Group tests bond settlement on French CBDC platform
Euroclear says CBDC-driven system can plug into existing market infrastructure
Most central banks invest in derivatives
External managers facilitate wider use of these instruments
Fed asks watchdog to review controversial trading
Move follows resignation of Boston and Dallas heads, as Warren asks for SEC probe
BoE report sheds light on Covid market operations
Surge in scale and frequency of operations amid switch to work from home created “issues”
FOMC doubles ceiling for reverse repo bids
Participating institutions can now borrow up to $160 billion per bid
BoE cuts UK growth forecast
Inflation likely to stay above 4% for first half of 2022 amid supply constraints and energy squeeze – MPC
Agustín Carstens on BIS strategic priorities, innovation and central bank policy
The BIS general manager speaks about policy trade-offs at critical time, tackling NBFIs and the dearth of ‘green’ assets, tech collaboration, and why he favours Biden’s $3.5trn infrastructure bill
BIS paper explores Fed’s ‘whatever it takes’ moment
Covid facility had most of its impact without the Fed actually buying any bonds, authors find