Central Banks
PBoC leadership faces multiple challenges
Yi Gang’s staying on as governor will only ease some of the pressures, writes Hui Feng
UK brokers sale of SVB subsidiary
HSBC to buy tech lender’s UK arm for symbolic fee after BoE takes part in emergency bidding process
Yi Gang stays on as China’s central bank governor
Beijing’s surprise decision sends stabilising signal for the economy, analysts say
Fed creates new liquidity backstop amid contagion fears
Valuing collateral at par marks significant break with rules on standard liquidity facilities
ECB to run cyber attack stress test for eurozone banks
Eurozone banks have seen major increase in hacking after Russian invasion of Ukraine, Panetta says
Bank of Guyana rejects FX criticism
Country’s FX reserves fell to 1.4 months’ worth of export cover in the autumn
Crypto firms are dodging scrutiny, US comptroller warns
Hsu compares crypto exchange FTX to BCCI, subject of infamous ’90s banking scandal
BoJ maintains monetary easing at Kuroda’s final policy meeting
Ueda confirmed as next governor as pressure grows to abandon yield curve control
Run on US bank sparks fears over interest rate risk
Major banks’ shares drop as investors reassess billions of dollars of unrealised losses
Peru holds rates for second month
Governor says economic growth likely to underperform central bank’s estimates
Saudi Arabia gives Turkish central bank $5 billion
Turkish government moves to protect workers from firing in aftermath of earthquake
US housing prices are moderating, says Fed chair
But other indicators show need for tighter policy, says Jerome Powell
Russia may nominate candidate for World Bank president
Experts think move is meant to embarrass US
Banknote themes in motion
Antti Heinonen asks whether the world is about to witness a revolution in banknote images
China to overhaul financial regulatory system
Proposed changes reduce the PBoC’s role in financial oversight
BoE’s Dhingra cautions against ‘overtightening’
MPC member says there is little evidence cost pressures are being embedded in wages and margins
Layoffs higher in US tech industry – St Louis Fed
Data shows layoffs in “information industry” were up over 65% compared with April 2022
Blanchard and Summers say higher inflation likely to persist
Veteran economists say structural factors are likely to push up neutral rate and inflation