Central Banks
BoE’s RTGS system goes down for nearly six hours
Database problem prevented high-value payment system from opening at usual time
Brazil governor promises to end high-interest rotating credit
Campos Neto tells legislators central bank achieved “soft landing” on monetary policy
Most central banks say they have enough financial stability staff
Some face problems including lack of resources, uncompetitive salaries and complex training needs
Focus is needed on improving central bank forecasts
Charles Goodhart believes tougher action over forecasting errors is preferable to policy-maker performance-related pay
Bank of Mexico holds rates
Board decides not to follow Chile and Brazil’s rate cuts despite falling inflation
Canadian CBDC would not improve inclusion, paper says
Bank of Canada research finds most citizens already have access to e-payments options
US credit card debt passes $1 trillion for the first time
NY Fed says credit is stabilising at pre-pandemic levels despite historic figure
US CPI inflation rises slightly
Rising shelter prices cause more than 90% of increase, but SF Fed predicts they will fall
Too early to declare victory over inflation, says RBA’s Lowe
Outgoing governor warns sticky services inflation could shift Australians’ expectations
BoE paper analyses banks’ forecasting accuracy
Banks with better governance, including more senior women, make better predictions, authors find
Ghana opposition demands governor resign
Parliamentary leader threatens march after Bank of Ghana reports $5.4 billion loss
Italy’s government changes bank windfall tax proposal after outcry
Banking executives criticise plan’s design and say new proposals are still unclear
Fed unveils new crypto supervision programme
Smaller banks need Federal Reserve authorisation before issuing stablecoins and dollar tokens
DRC orders huge policy rate rise at unscheduled meeting
Increase is needed to combat accelerating currency depreciation and inflation, MPC says
RBI holds main rate as food prices drive inflation surge
Indian central bank imposes cash ratio on banks as Das says food-driven shock may be temporary
RBNZ unveils climate stress-test scenario
New Zealand’s largest lenders will be tested on exposure to extreme weather and transition costs