Financial inclusion
Fed paper studies inequality in three dimensions
Authors find examining three dimensions simultaneously gives new insights
Patrick Njoroge on reshaping banking and finance to work for the masses
The Central Bank of Kenya governor speaks to Christopher Jeffery and Rachael King about exchange rate intervention, food prices, banking reform and financial inclusion
Cambodia shortens duration of liquid reserves ahead of election – reserves chief
De-dollarisation and lack of interbank market make forex intervention the only real policy tool left for National Bank of Cambodia
Bank Indonesia to nudge more people to open bank accounts
The country aims to boost the percentage of the population with bank accounts to 75% by 2019
Financial distress in the US is concentrated in a small percentage of consumers
Around 10% of consumers account for 50% of all distress events, research finds
Loose policy supported equality in Sweden – Skingsley
Deputy governor of Sveriges Riksbank reflects on how monetary policy promotes inclusive growth
People: Fiji appoints deputy; Commission proposes new SRB chair term
Esala Masitabua will become deputy governor in Fiji on January 1, 2018; European Commission proposes extending Elke König’s mandate as chair of the SRB; and more
Change in fees could lead to ATM ‘deserts’ – MP Nicky Morgan
Chair of UK Treasury committee concerned that changes to ATM networks could threaten financial inclusion as cash continues to be important to 2.7 million people
BoJ working closely with fintech firms, says Kuroda
Fintech can make contributions to both emerging and developed countries, but needs close monitoring, Haruhiko Kuroda says
Digital currencies may foster competitiveness in retail payments, research finds
But central banks should be cautious and implement non-anonymous models to preserve security
Public satisfaction with BoE rises with policy understanding
The research recommends targeting young people with low incomes, as well as women
Central bank alters export regulation for sea cucumbers
End of trading ban has led to boom in the Solomon Islands’ exports of the sea creatures
Mauritius governor opens new currency museum named after first governor
Museum ‘Aunauth Beejadhur’ will exhibit Mauritian currency throughout the ages, with plans to expand scope to include financial literacy at a later date
Anti-gambling nudges can improve household finances – Philly Fed research
Natural experiment shows how removing “geographically close cues” can help tackle addiction
US income inequality boosted by top 0.01% – research
Income via “pass-through businesses” is a great contributor to top inequality
Cambodia launches first phase of payment inclusion network
New network will allow customers greater access to financial services through ATMs and POS to make interbank transactions
Kenya’s digital transformation
The use of innovative digital financial services has transformed financial inclusion in Kenya, writes the chairman of the Central Bank of Kenya
Half of UK consumers ‘potentially vulnerable’ – FCA survey
First survey of ‘financial lives’ finds over 25 million people at greater risk of financial difficulties
Ethiopia launches ‘first of its kind’ swap agreement with Sudan
Central banks to swap $16 million under new agreement designed to strengthen financial co-operation and ease Ethiopia’s foreign exchange pressures
PNG’s Bakani defends board’s overseas travel expenses
Governor crosses swords with predecessor, who claims decision to hold board meeting overseas makes Bakani unfit to lead the central bank
Argentine central bank can progress without independence law – chief economist
Pablo Neumeyer says current policies are working and may create the consensus for future law
IMF explores Balkan female employment conundrum
Fund shows policies are needed to secure both supply and inclusion of women; quality of institutions should be improved
RBI launches economics blog
“Mint Street Memos” comprise brief reports and analysis from RBI economists; first post studies beneficial effects of demonetisation for “financialisation” of savings
PNG governor urges country to reduce reliance on extractive industries
Bank of Papua New Guinea governor says country needs to diversify its industries and create a culture of savings