Central Banks
High-frequency traders impose costs on others – BIS paper
Study of dark pools finds HFTs almost never provide liquidity, while raising the cost for all
IMF to make changes to financial assessment programme
Fund says FSAP should focus on smaller financial companies, business models and risk management
China slips into deflation
Risk of Japan-style deflation exists but can be avoided, analyst says
Cuba limits cash transactions and ATM access
Central bank measure provokes scepticism and concern
Shelter inflation set to fall significantly – SF Fed research
“Conservative” model predicts shelter inflation will be 0% in the US by summer 2024
Currency round-up: Austrian leader calls for right to cash
US Mint continues quarters programme; Bangladesh adopts “clean note” policy; and more
Reports of cash restrictions in Niger
West African central bank froze relations and closed local offices after July 26 coup
Government employment has not recovered from pandemic – Fed
Low wages could be responsible from 450,000 missing state and local government workers in US
Bank of Ghana clarifies losses after Reuters report
Research director explains $5.4 billion loss for 2022 mainly due to debt restructuring
BoJ board member says sustained 2% inflation within reach
Firms may have become more willing to raise wages, some policy-makers noted in July meeting
Global growth is stalling: what must be done?
Jagjit Chadha says leaders are failing to make a serious attempt to tackle deepening global problems
When £1 is not £1
Gabriel Stein examines the risks from introducing a CBDC should its value diverge from that of physical currency and bank deposits
Bundesbank cuts remuneration of government deposits to 0%
Measure could further reduce availability of high-quality collateral in the eurozone
BoE enters new phase of data transformation project
Team is now developing options to address challenges identified in phase one
Fed rate hikes propel ‘crypto cycle’ – IMF paper
Monetary policy more correlated with institutional investment in tech than finance
Hedge funds may reduce liquidity in volatile periods – BoC research
By transacting abnormally in times of market stress, hedge funds can reduce liquidity
Brazil split decision not a problem for central bank credibility
Central bank voted 5–4 for larger-than-expected cut
New Zealand government boosts central bank capital
RBNZ granted capital boost and indemnity
Time to pay policy-makers based on their performance
The remuneration framework for central bankers needs reform amid failures to hit inflation targets, argues David Bholat