Central Banks
PBoC stress-tests financial institutions’ bond holdings
Bank steps up efforts to tame market rally while keeping key medium-term rate unchanged
Campos Neto on inflation targeting, independence and the future of financial intermediation
The Brazilian governor speaks with Christopher Jeffery about tackling inflation, the need for financial autonomy, and redefining the financial landscape with open finance, programmable Pix, deposit tokenisation and sound cross-border payments governance
Bailey highlights key challenges to central banking orthodoxy
BoE governor says focus on financial stability remains key during “Covid-Ukraine era”
Fed likely to cut rates in September – FOMC minutes
Participants at July meeting said they would need greater confidence inflation was falling
Fed chair says time has come to adjust policy
Powell warns of ‘unmistakable’ labour market cooling in speech at Jackson Hole summit
People: July to September 2024
A round-up of central bankers in the news and on the move during the past three months
‘Beveridge threshold’ can explain US soft landing – study
Gauti Eggertson tells Jackson Hole attendees why many economists were too gloomy about growth
Hungary’s central bank completes carbon capture programme
MNB expects 75% reduction in emissions by end of 2025
Food inflation spills over in India – RBI study
Central bank economists call for disinflationary monetary policy to tame phenomenon
Bank of Israel governor calls on PM to make financial adjustments
Amir Yaron writes to Netanyahu after agencies downgrade country’s credit rating
Greedflation, if it ever existed, is correcting itself
Steve Kamin constructs a “wage gap” to assess inflationary pressures in the US
RBNZ opens consultation on more standards for deposit-takers
Central bank proposes “non-core” requirements in addition to prerequisites for licensing
Bangladesh Bank to start raising rates
Governor says further tightening will be needed as he seeks additional funds from IMF
‘Reserve asset competition’ explains global fiscal cycle – paper
Local fiscal shocks can trigger debt issuance abroad, authors find
SNB launches instant payments system
Swiss central bank says system will enable “final settlement” within seconds, 24/7
Bank of Korea holds policy rate
MPC members open to cutting rates in next three months, despite concerns over rising home prices
Lending spreads may dampen monetary policy – research
Rate hikes appear to have been muffled and cuts might be too, say Kansas City Fed authors
Poland’s top court blocks inquiry into central bank governor
Glapiński accused of politically aligned monetary policy decisions
Public sector pay rises ‘will not drive UK inflation’
Former BoE deputy governor says wage agreements’ impact on private sector prices is likely to be limited
Bank Indonesia keeps rates unchanged
Central bank sees room for cuts in fourth quarter, governor says
Bank of Thailand holds rates at 2.5%
Change of government poses uncertainty over major cash handout plan
Bank of Jamaica delivers first rate cut in two years
Inflation should remain within target despite Hurricane Beryl, MPC says
Cyber crime is central banks’ top financial instability risk
Upper-middle income countries more likely to be wary of foreign exchange crisis
NY Fed chief unveils real-time reserves calculation framework
John Williams and fellow researchers cite five measures of reserves’ ampleness or scarcity