Coronavirus
Central banks sign up to Fed’s Fima facility
Reported usage is marginal, but backstop is highly valued by reserve managers
Central bank communications ‘after’ Covid
From crisis responses to coping with sudden digitisation, Covid-19 forced central bank comms teams to innovate fast. How much of it will stick?
Kazakhstan continues monetary tightening
National Bank orders third 25bp increase in a row, in line with Russia
Bank of Russia raises rates and inflation forecasts
Nabiullina warns central bank will tighten policy further if above-target inflation persists
Chilean president grants Marcel new term as governor
Central bank leader faces continued challenges from pandemic and rapid political change
PBoC steps up efforts to safeguard cash use
Chinese central bank fines railway $78,000 over refusal to accept cash in ticket office
Fed announces strict new trading rules for senior officials
Regulations would ban individual investments, increase disclosure and restrict transactions
Paraguay’s MPC hikes rates by 125 basis points
Country follows Chile with unexpectedly large tightening as inflation continues to rise
Bank of Thailand raises LTV ratio cap as recovery slows
Central bank says home loan measure has limited risks despite high household debt
Uganda’s central bank cuts banknote printing costs
Improved processing and new reissuance guidelines streamline banknote management, report says
Fed ethics officials warned against trades
March 2020 advice cautioned against stock transactions in following months
Biden stimulus will cause small, short price spike, says paper
San Francisco Fed predicts American Rescue Plan will boost inflation by 0.3%
One in ten central banks opened new liquidity swap lines
Benchmarking participants expanded lines in dollars, euro and renminbi
Weidmann to step down as Bundesbank president
After over 10 years leading the German central bank, Weidmann will leave for “personal reasons”
Delta variant had smaller impact on US consumer spending
Cleveland Fed finds weaker or no link between hospitalisation and spending in 2021
Dallas Fed predicts 2022 core inflation above 2%
Economists expect auto and transportation costs to abate, but spike in housing prices
James Bullard on Fed policy, action and governance
St Louis president calls for tapering amid “exceptional” job market and risk of “more persistent” inflation, quantifies ‘big tent language’ for pioneering AIT move, and details Congress’s role in Fed ethics oversight
Mexican inflation rising rapidly, warns deputy governor
Heath says prices increasing at “really phenomenal” rate but expects full pandemic recovery by 2023
US CPI inflation rises to 5.4%
Prices continue upward climb, but policy-makers still see pressures as temporary
Clarida: ‘Stagflation is not my baseline case’
Fed vice-chair says inflation situation not akin to 1970s
IMF: growth prospects dim as pandemic lingers
Fund revises down growth forecasts, warning of inflation, disruption and divergence
Covid-19, crypto and climate weigh on global economy – GFSR
Central banks face difficult “intertemporal trade-offs”; poorer nations unlikely to regain pre-Covid growth levels for “many, many years”, says IMF’s financial counsellor Tobias Adrian
ECB’s Lane: one-off wage increases do not equal sustained inflation
Inflation is forecast to have reached 3.4% year on year in September, well above the ECB’s 2% goal
FSB to press ahead with money market fund reforms
Asset managers had argued turbulence in MMFs during Covid was symptom of stress not cause