Central Banks
ECB set for 100bp of rate cuts by autumn – Greek governor
France is ‘an issue’ and Trump presidency an ‘explosive mix’, says Stournaras
Refinancing at higher rates might not cut consumption – BoE paper
Homeowners’ ability to modify loan terms could weaken monetary policy transmission, study finds
Claudio Borio joins the Central Banking Advisory Board
Economics expert and ex-BIS research head joins peers from across the globe
Madagascar’s governor on targeting M3 over inflation
Central Bank of Madagascar head Aivo Andrianarivelo speaks about introducing an interest rate corridor, diversifying from dollars to gold, using instant payments to bolster inclusion and drawing on IMF sustainability funding
IMF develops stress test for central bank balance sheets
Framework designed to help risk teams determine appropriate profit distributions
Turkey makes 250bp cut
MPC narrows rate corridor by 300bp as inflation shows signs of cooling
Distributions allow better state-level forecasts – RBI paper
Authors find new method incorporating inflation and expectations can cut forecast errors
Syria appoints new central bank chief after regime change
Maysaa Sabreen becomes first woman to hold governor position
Unfunded fiscal spending leads to lower real rates – research
Deglobalisation could limit ability of monetary policy to control inflation, says author
Government loyalist deemed ineligible for BoT chairmanship
Council of State raises issue with Kittiratt na Ranong’s previous political office
Russia pauses tightening, but warns rates will stay high
Central bank governor says inflation expectations are at risk of becoming unanchored
Colombia surprises markets and slows easing cycle
Quarter point cut a “strong message” of independence by central bank, analysts say
2024: The year in central banking
A look back at the biggest and most popular news stories of the year
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
Ethiopia’s liberalisation paves way for banking consolidation
Reforms will give central bank power to supervise foreign lenders as country lifts barriers to investment
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
China holds benchmark lending rates
One- and five-year loan prime rates unchanged after authorities pledge to loosen policy next year
Forbearance does not always lead to ‘zombification’ – BoE paper
Well-designed policies can support firms through temporary periods of stress, researchers find