Central Banks
The PBoC, real estate debt and financial stability in China
Central bank policy-makers are restricted in terms of capacity and space by their efforts to manage the nation’s property bubble amid declining growth
RBI’s Patra envisages India as ‘economic superpower’
India has chance to achieve “escape velocity” from emerging market status, deputy says
ECB rate hikes could damage climate change policies, paper finds
Researchers claim tighter financing conditions will hamper transition to capital-intensive green technologies
Rates round-up: Argentina adds 950bp to main rate
Central banks in Argentina, Peru, Rwanda, Serbia and Uganda tighten policy
Firms use supply chains to predict inflation – IMF paper
Authors find expectation formation diverges from rational expectations hypothesis
Critics accuse Barbados authorities of monetary financing
Government says it is using SDRs to buy bonds, while governor says purchases are legal
China cuts key interest rates as growth weakens
Analysts lower China’s annual GDP growth estimate to around 4%
Reserve requirements most commonly used macro-pru tool
Responses show differences in measures favoured by high and middle income economies
Ukraine’s wartime economy faces possible crisis
Foreign donors must increase financing of Ukrainian government, NBU ex-governor and current government adviser argue
Fed’s Evans charts path for rates
Chicago Fed president is optimistic inflation will be near 2% next year
Bank of Mexico increases interest rates by 75 basis points
Central bank once more revises up inflation projections
Uncertainty over ECB’s TPI muddies monetary and fiscal impact
Analysts say anti-fragmentation tool exposes long-standing flaws in EU fiscal framework
Zimbabwe officials considering currency board
MPC member says arrangement would require $700 million in reserves
Malaysian central bank plays down impact of potential data breach
BNM says Malaysia’s payment system remains “safe and secure”
Most central banks do not want more macro-pru powers
But minority of benchmark participants want governments to adopt measures in use elsewhere
‘Very little support’ for a US Treasury clearing mandate – Isda
Dealers and clients prefer carrot to stick in efforts to improve Treasury market liquidity
Prominent economists call on US to unfreeze Afghan reserves
Stiglitz among those calling on US to ease humanitarian crisis despite Taliban rule
Kuwait raises policy rate 25bp
Central bank usually times increases to match FOMC meetings
Monetary policy ‘increasingly synchronised’, say IMF officials
Very few central banks have bucked the global trend since the start of the pandemic
PBoC vows not to flood economy with liquidity
Chinese central bank warns of rising structural inflation pressures
Record-high inflation piles pressure on Norges Bank
Norwegian central bank expected to increase rates by 50 basis points on August 18