Eurozone
Chile’s Costa on tackling inflation, forex interventions and nowcasting
Chilean governor discusses stubbornly high prices, Fed spillovers, reserve buffers, retail CBDC and unconscious bias
ECB sets 2024 climate change deadline for big eurozone banks
Most ECB-supervised banks failing to implement climate change plans, Elderson says
DNB advises pension funds to boost liquidity – report
Following UK crisis, Dutch central bank asks funds to monitor stress signals and review liquidity rules
Economy’s ‘first responders’ now in the line of fire
Forceful but late interventions to combat inflation raise the risk of central bank overreactions
ECB raises rates on government deposits to ease transition
Governments should make “alternative arrangements”, ECB says, after pandemic saw deposits rise
Digital euro should co-exist with commercial bank money, BdF official says
Nicolas de Labarre highlights further details of the CBDC project
ECB’s Lane and Schnabel strike different notes on eurozone inflation
Schnabel says “right tail” shift could herald de-anchoring, but Lane says other outcomes are possible
Glapiński accuses Germany of wanting to redraw land borders
Polish governor warns on plans for EU super-state as German foreign office calls claims “absurd”
Is money growth really the main inflation culprit?
A closer look at inflation in the eurozone and Switzerland
How central bank mistakes after 2019 led to inflation
There is a need to acknowledge errors and take concrete action to restore confidence in policy-making
Nagel lays out conditions for ECB anti-fragmentation instrument
Bundesbank president says it should be temporary and only used in “exceptional circumstances”
Banknotes: April to June 2022
A round-up of news and salient issues that have affected central bankers in the past three months
ECB emergency meeting pledges sovereign bond support
Governing council says eurozone will accelerate efforts to create “anti-fragmentation mechanism”
CBDC and bank intermediation in the eurozone
An assessment of the impact different ‘digital euro’ designs could have on the banking system
ECB announces 25bp rate raise and QE slowdown for July
September increase may be steeper, as ECB forecasts higher inflation and lower growth
Sovereign green bonds: the reserve portfolio’s panacea?
German, Swedish, Danish and UK debt managers speak about ‘twin bonds’ and other efforts to deal with liquidity issues
Eurosystem’s bond holdings may hamper market functioning – paper
Asset scarcity caused by Covid-19 emergency programme has lowered repo rates, researchers say
What is the right size for a central bank board?
There is greater consensus for smaller boards in theory than in practice
ECB paper examines eurozone bond financing
Researchers present “first comprehensive study” of rise in bond financing over last 20 years
Riksbank launches 24/7 instant settlement system
Rix-Inst operates on same technology as ECB’s Tips system
Digital euro could be reality by 2026 – ECB’s Panetta
ECB will step up engagement with authorities and investigate means of issuing CBDC
Eurozone could improve fiscal pact – ECB paper
Reformed framework should combine expenditure growth rule with “debt anchor”, researchers say
Many central banks ‘layer’ news for different audiences
Techniques include use of differing language, visual and video presentation, and data release
ECB sticks to plan of gradual policy normalisation
Lagarde says net asset purchases should finish in the third quarter of the year