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Ethiopia’s liberalisation paves way for banking consolidation
Reforms will give central bank power to supervise foreign lenders as country lifts barriers to investment
Book notes: Default: the landmark court battle over Argentina’s $100 billion debt restructuring, by Gregory Makoff
Required reading amid current high sovereign debt, global tensions and the urgent need for climate finance
Mexico continues easing with quarter-point cut
Analysts think larger reduction is plausible but central bank stays cautious
Benchmarking
China holds benchmark lending rates
One- and five-year loan prime rates unchanged after authorities pledge to loosen policy next year
Economics Benchmarks 2024 – model banks analysis
Additional data breakdowns reveal patterns based on staffing and development
Brazil digs into reserves again to prop up falling currency
BCB sells almost $13 billion of reserves as investors cast doubt on government’s fiscal position
CNB’s Aleš Michl on tackling inflation, Friedman’s legacy and ditching DSGE
Czech governor speaks about policy mistakes, targeting M2, diversifying into equities and gold, and ending interest on minimum reserves
Forbearance does not always lead to ‘zombification’ – BoE paper
Well-designed policies can support firms through temporary periods of stress, researchers find
Repo and FX markets buck year-end crunch fears
Anticipations of changes to the Fed’s reverse repo programme contributed to easing balance sheet pressures
CNB’s Aleš Michl on tackling inflation, Friedman’s legacy and ditching DSGE
Czech governor speaks about policy mistakes, targeting M2, diversifying into equities and gold, and ending interest on minimum reserves
Editor's choice
Economics Benchmarks 2024 report – making models work
The benchmarks this year include more granular details on key model design features
The BoJ’s path to policy normalisation
Will the Bank of Japan be able to normalise monetary policy following its successful exit from negative rates?
Fake it ’til you break it: the battle against disinformation
Transparency, beefed-up comms and AI are all being enlisted in central banks’ fight against falsehood
The GFXC chair on the next steps for the FX global code
Gerardo García speaks about updating FX best practice, improving buy-side engagement and changes to the BIS’s triennial survey
Benchmarking
Share of economics departments with data unit rises
Web scraping and administrative data are top alternative sources for economists
Inter-bank working groups
Facilitating connections between central bankers across the globe to promote the exchange of expertise and support collaboration.
Upcoming meetings include: Cyber risk management, social media in communications and upgrading forecast models.
Central banking amid uncertainty and Trump 2.0
Deglobalisation set to challenge the central banking orthodoxy of the past 40 years
Awards
The winners of the 2024 FinTech & RegTech Global Awards
Seventh annual tech awards recognise excellence among central banks and the private sector
Global Impact Award: Swiss National Bank
The SNB is recognised for its pioneering live wholesale CBDC and monetary policy operations on distributed ledger technology
Pioneer Award: Bank of Namibia
Bank of Namibia’s Automation Centre of Excellence has elevated its use of suptech, enhanced monetary policy decision-making and automated government payments
Central Banking Awards 2024 ceremony honours best in field
Shirakawa receives lifetime award and Brazil is named central bank of the year
Book reviews
Book notes: Default: the landmark court battle over Argentina’s $100 billion debt restructuring, by Gregory Makoff
Book notes: A fly on the RBI wall: an insider’s view of the central bank, by Alpana Killawala
Book notes: The bankers’ new clothes, second edition, by Anat Admati and Martin Hellwig
Book notes: The road to freedom: economics and the good society, Joseph E Stiglitz
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