Central Banks
Summers fears for Fed’s ability to remove ‘punchbowl’
Central banks may not be able to counter inflation threat amid possible return to 1960s economics, says former US Treasury secretary
Empirical economists win Nobel Prize
Card, Angrist and Imbens share prize for work on labour markets and causality
China’s financial market at risk of ‘distress’, RBA report warns
Authorities may have to choose between market discipline and intervention to save Evergrande
Climate risk becomes more relevant to reserve managers
More central banks invest in green bonds and include climate risks in their benchmarks
Peru central bank raises rates for third time in two months
BCRP forecasts inflation will return to target, but expresses concern over expectations
RBNZ names new deputy governor amid leadership changes
New Zealand central bank expands senior management and says CFO will leave in May
Some ECB rate-setters concerned over inflation
Minutes show certain governing council members called for sharper cut in asset purchases
Peru’s president re-nominates long-standing governor
Economy minister says Julio Velarde is an “excellent professional”
Cœuré warns ‘analogue’ supervisors must adapt to digital world
BIS official says growth of fintech demands supervisors respond with technology of their own
People: US Senate confirms CFPB head
Israel adds new member to MPC; Swiss deputy governor will undergo heart surgery
BIS paper outlines model of managed floats
Framework captures financial frictions while being simpler than other models, authors say
Bank of Israel again holds rate steady
But MPC signals it is ready to end QE programme if economic recovery continues
MAS says it is ‘examining’ allegations against local firm
Pandora Papers report alleges MAS was concerned by firm’s handling of Russian clients
Uruguayan central bank makes second rate increase in a row
Central bank aims to end “expansive” monetary policy and guide inflation to target range
Covid-19 has accelerated paradoxical developments in cash usage
Antti Heinonen explores the unusual patterns in banknote demand in 2020 and draws lessons for the future
Financial Stability Benchmarks 2021 report – keeping the sector secure
Benchmark exercise presents responses on AML/CFT, cyber, macro-prudential and other risks
CPMI and Iosco say systemic stablecoins must meet FMI principles
Stablecoins perform similar functions to other financial market infrastructures, say bodies
Evergrande tests China’s commitment to deleveraging
Chinese officials are having to choose between near-term growth and long-term economic health
Romania orders first rate increase in more than three years
Central bank adds 25 basis points as energy prices bite, while Moldova continues tightening
Greater competition cut US banks’ ‘insider lending’ – BdF paper
Researchers quantify bank owners’ and executives’ loans to themselves and their interests
Iceland tightens policy to tame inflation
Inflation rose to 4.4% in September, above the central bank’s 2.5% target