Central Banks
Nigerian court orders release of former governor
Lawyers argue that Emefiele’s month-long detention is unlawful
IMF approves $3 billion short-term loan for Pakistan
Saudi Arabia and UAE provide $3 billion more as country tries to overcome crisis
Bullard steps down as St Louis Fed president
FOMC hawk will become dean of Purdue Business School after 15 years leading regional Fed
Michele Bullock to become first woman to lead the RBA
Deputy governor to replace Philip Lowe in September, as central bank prepares for reforms
US basketball chief: sovereign wealth funds cannot buy teams
Statement follows Qatari fund buying minority stake in owner of Washington Wizards
Researchers use natural language processing to estimate inflation
Applying NLP techniques to earnings calls provides useful economic indicators, paper says
Senate committee backs Biden’s Fed nominees
Legislators unanimously back Jefferson, but most Republicans oppose Cook and Kugler
Bank of Canada raises rates despite falling inflation
Governor warns progress towards price stability “could stall”
US regulators fine Bank of America $150 million
BoA pays out nine-figure penalties for consumer malpractice for second year in a row
Egypt announces ‘record’ inflation
Inflation continues rising despite monetary tightening and could trigger IMF consultation
ECB’s monetary policy is taking effect rapidly, says Lane
But chief economist warns tighter financing conditions could cause eurozone contraction
South Korea’s central bank holds rates steady again
Governor says board agreed restrictive policy should continue for a considerable time
Advanced economies more likely to publish minutes
Average central bank publishes minutes around two weeks after a policy decision
Book notes: O Governador, by Luis Rosa
Documents Carlos Costa’s clashes with Portugal’s elite during the eurozone sovereign debt and banking crisis
Senad Softić on governance, currency boards and EU convergence challenges
Central Bank of Bosnia and Herzegovina governor speaks about improving governance in a political vacuum, managing a currency board amid rip-sawing euro rates, resolving Gazprom’s local units, modernising payments and meeting EU convergence criteria
Bank of Canada raises rates 25bp
Central bank now predicts inflation will return to its 2% target in mid-2025
Should the ECB disclose governing council members’ votes?
Some former officials argue it would reduce leaks and conflicting statements, while other stress the current system allows better policy debates