Central Banks
Cash here to stay, at least as a store of value
Central Banking Summer Meetings: As cash use in payments decline, it may become unprofitable for private actors
Borrower-based measures show value as macro-pru tools
Central Banking Summer Meetings: Central bankers resist pressure to ease buffers at first sign of downturn
Median RTGS system processes nearly $100bn annually
Median value of payments rose by $15bn from the previous benchmark
ECB enters new phase in fight against inflation
Central bank faces stronger trade-offs as economy weakens and it approaches terminal rate
PBoC cuts short-term interest rate to support economy
Analysts believe central bank may ease policy further as Chinese economy continues to struggle
Senior US officials criticise new third-party risk guidance
Members of Fed and FDIC boards object to vagueness and burdens on smaller banks
Explicit policy guidance ‘fraught with risks’ – RBI’s Das
Central Banking Summer Meetings: Policy-makers need to be “nimble footed”, governor says
Argentina defers over $15 billion interest in debt swap
Struggling country eases fiscal pressures while inflation continues rising
Pakistan holds rates despite high inflation
Reserves resume fall as balance of payments crisis continues
Former PBoC deputy governor expelled from Communist party
Anti-corruption body accuses fintech and pyaments overseer Fan Yifei of accepting large bribes
Primary RTGS systems have average $1.65m in operating costs
Majority of central banks increased payments system divisions budgets in the past year
Nigerian president suspends governor
President calls for lower policy rates and unified FX regime, and says Emefiele is under investigation
Chile’s central bank aims to boost reserves by 28%
Programme aims to buy $10 billion in FX over 12 months after interventions to support peso
Angolan governor leaves role to join cabinet
Massano takes over economics portfolio after violent protests against fuel price hike
Bank Negara Malaysia veteran named as next governor
Shamsiah will step down when her first term ends, handing over to current deputy governor
Chile’s cash use has rebounded since pandemic, survey finds
Cash remains the primary payment method for small purchases, though card use has risen
Populists can pressure central banks to cut rates, paper finds
Researchers say the most populist governments can get rates lowered by 30 basis points
Payments oversight is under-resourced for a third of central banks
Respondents identify shortage of human capital, capacity building and dated technology as concerns
Turkish president appoints new governor
Erkan faces exceptional challenges as questions remain over Erdoğan’s willingness to cede control