Coronavirus
Colombia’s Villar says tight policy necessary for future growth
Governor says inflation more stubborn than in neighbours, but will fall soon
World Bank’s model ‘insufficient’ for global threats – Yellen
US Treasury secretary says institution needs to do more on climate change
China needs reforms to maintain robust growth, IMF warns
Fund urges Chinese policy-makers to tackle productivity slowdown and financial risks
Risk Management Benchmarks 2023 – executive summary
Key results from the 2023 benchmarks, including risk priorities, organisational structure and metrics
Pandemic fiscal support had rapid inflationary impact – NBER paper
Inflationary impact of support to consumers was “quick to ensue, but moderate”, authors find
Alwyn Jordan becomes Barbados central bank’s acting governor
Cleviston Haynes left central bank on January 31 as his term ended
IMF says global economy may be at ‘turning point’
China and India expected to drive half of global growth this year, but other economies are lagging
Stefan Ingves on leadership, prudential oversight and transparency
The Riksbank and Basel Committee veteran speaks about his leadership philosophy, Basel III deal-making and concerns about regulatory rollback, the value of QE and negative rates, and the need for a legal architecture for CBDCs
Federal Reserve fines bank over AML breaches on Covid-19 loans
Popular Bank allegedly processed six coronavirus-era loans with significant signs of fraud
Cuban foreign exchange reserves have fallen, state says
Unusual disclosure in official publication sparks speculation about country’s financial position
Capital buffers not all working as intended – BoE paper
Some banks raised rates and contracted credit supply during the Covid-19 crisis
Cook suggests US may need to change inflation models
Fed governor believes inflation on path to 2% but tight labour market remains upside risk
The strong dollar, global inflation and global recession
Steve Kamin asks whether the Fed’s tight policy is pushing the world towards recession
Rethinking the CCyB
As central banks rush to replenish bank capital reserves, the countercyclical buffer may need some fine-tuning
Eurozone citizens still use cash in majority of transactions
Cash use declines since 2019, but still makes up almost 60% of transactions
It is time to reorganise the Bank of England
Recent crises have shown the BoE’s management structure to be outdated, says William Allen
Proportionality in bank regulation: striking the right balance
The ‘final’ Basel III framework contains elements designed to make the rules fairer while reducing regulatory arbitrage. This means careful analysis is required when making any proportionality adjustments in the EU single rule book, writes Maurizio…
Book notes: A monetary and fiscal history of the United States, 1961–2021, by Alan Blinder
The book’s breakthrough is its infusion of the history of fiscal policy into a theoretical framework traditionally focused on monetary instruments. It is a splendid and thrilling read
Kenya central bank restores mobile money transfer fees
Move will reverse anti-Covid measure, but cut fees from 2020 rates
Armenia’s Galstyan calls for a new framework to tackle uncertainty and nonlinearities
Central Bank of Armenia governor says central banks can start to regain credibility by admitting their mistakes. This could include employing a risk-management approach to monetary policy aimed at avoiding nonlinear ‘dark corners’ and placing much less…
Rates round-up: Pakistan adds 100bp to main rate
Central banks raise rates in Kenya, Congo and Iceland
RBA governor apologises over forward guidance
Philip Lowe says he’s sorry that people took out mortgages on the basis of central bank guidance
Chile’s Costa on tackling inflation, forex interventions and nowcasting
The Central Bank of Chile governor speaks about stubbornly high prices, Fed policy spillovers, reserve buffers, retail CBDC and the need to address unconscious bias