Central Banks
Some philosophical questions about the future of central banking
Kenneth Rogoff weighs up the many challenges facing central banks in the years ahead, from debt and inflation to negative rates and the dangers of ‘mission creep’
Bolivian ex-governor warns pension law poses bank risk
Current governor has stayed silent on risks posed by measure, former governor Morales says
HKMA says employees must be vaccinated or take regular test
Hong Kong financial regulators will all impose same regime, government official says
Kuwait launches new interbank payment system
Transactions will be instantaneous and payment data encrypted, governor says
Majority of central banks use corridors to set market rates
A handful use floors due to unconventional policy, and some use other methods
Too great expectations from the ECB’s strategy review
The review process represents operational best practice, but will fail to unify the Governing Council
Salaries higher for monetary policy staff than markets specialists
Budgets for monetary operations/markets teams were larger, but monetary policy staff were slightly better compensated
Indonesian central bank to buy $30 billion debt from government
Central bank will receive below-market yield for most purchases in two-year programme
South Korea raises policy rate
Governor cites rising household debts and house prices as reasons to tighten policy
Powell says taper test has been met ‘with regard to inflation’
Fed chair tells Jackson Hole conference that slowing QE this year “could be appropriate”
ECB council divided on forward guidance, minutes show
Some senior officials argued new formulation risks inflation overshooting
Brazil’s supreme court upholds central bank autonomy law
Opposition parties had challenged constitutionality on procedural grounds
Bank of Ghana wins legal case against ‘corrupt’ firm
Central bank says it uncovered bribery and a corrupt tender process during investigation
Norges Bank finishes crisis liquidity support programme
Last loan to banks matures today as central bank returns to pre-pandemic framework
Dutch households to keep most pandemic savings
DNB still expects strong recovery in household consumption if social distancing measures are lifted
Management failings caused Australian equity trading platform outage
Responsibility for upgrade project was unclear, IBM review finds
Rwandan central bank scraps e-wallet transfer fees
Customers can now move money between mobile and bank accounts without charge
Chilean governor opposes new pension withdrawals
Congress considering authorising fourth drawdown as stimulus measure
Payments Benchmarks 2021 report – looking forward to a digital future
Benchmarking data offer insights on mandates, staffing structure, oversight of payment services, and RTGS design and management
Is the ECB’s strategy review enough?
The reformed framework may allow greater stimulus to tackle weak inflation expectations, but the Governing Council is already divided on what to do next
Myanmar authorities shut banks amid growing crisis, report says
Private banks closed from August 16 to August 22 amid ongoing cash crisis, reports allege