Articles by Thomas Chow
Mexico continues easing with quarter-point cut
Analysts think larger reduction is plausible but central bank stays cautious
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
BoE holds rates as UK inflation hits eight-month high
Decision closer than expected as members unsure about implications of government budget
Central banks ‘too slow’ on wholesale CBDCs, industry says
Report emphasises need for greater public-private collaboration and unified definition
ECB raises capital requirements for eurozone banks
Geopolitics and macro-financial shocks remain top priority for next three years, annual review states
Brazil raises rates again amid fiscal woes
Central bank tightens policy by 100bp in unanimous decision as inflation continues to overshoot
BoE’s non-bank liquidity facility to open for applications in 2025
Other central banks have shown “lots of interest”, says deputy governor
Digital euro can fill market gap, panellists say
Representatives from central banks and industry discuss use cases for retail and wholesale CBDCs
BoE to reduce frequency of stress tests on major UK banks
Large-scale exercise will now be conducted every other year instead of every year
Imported inflation waning but still present – BoE’s Dhingra
MPC member tells panel that another energy shock could still trigger renewed price hikes in UK
Upping LCR will not address systemic risks – Hernández de Cos
Panellists shed light on liquidity risks in banks, non-banks and US Treasuries
South Africa makes 25bp cut
Central bank stays cautious but continues easing cycle amid slowing inflation
E-krona adviser on offline trials, legislative changes and rollouts of CBDCs
Sveriges Riksbank’s Johan Schmalholz speaks about latest CBDC developments on sidelines of Central Banking’s Windsor training series
Argentina reduces policy rate for first time since May
Analyst says 500bp cut means country is unlikely to lift currency controls soon
Colombia cuts rates by 50bp in split decision
Recent constitutional reform bill could hurt fiscal sustainability, says central bank
Three-quarters of UK financial firms use AI – BoE’s Breeden
Deputy governor previews survey result in speech on AI’s financial stability risks
ECB paper finds asymmetric spillover from US monetary policy
Tightening episodes affect emerging markets more than expansionary episodes do, say researchers
Chile continues easing cycle with 25bp cut
Analyst says another reduction in December is “far from guaranteed”
Peru unexpectedly pauses easing cycle
Central bank expresses hawkishness, though policy rate still among lowest in Latin America
South Korea joins global easing cycle
Government efforts to cool housing prices create opportunity for central bank to cut rates by 25bp
Lessons learned on macro-pru policies
Macro-prudential tools are proving their worth although use cases vary by country; integration into over-arching policy frameworks remains a challenge
Rate markets had lucky escape from August stock crash, says BoE
FPC minutes suggest spillover might have occurred were it not for positive macroeconomic news
Colombia cuts rates by 50bp in split decision
Uncertainty over fiscal budget prevents further easing, analysts say
Bank of Mexico cuts rates by 25bp amid slowing inflation
Doveish tone signals further easing to come, say analysts