Central Banks
Powell: US economy still ‘a long way’ from meeting Fed goals
Fed chair predicts continued need for low interest rates and QE, as recovery remains “uneven and far from complete”
Sudanese central bank changes currency regime
Central bank cuts official exchange rate sharply after years of major over-valuation
New Zealand’s banking system operationally ready for negative rates
Central bank will lower rates below zero lower bound if required, MPC says
BoE unveils plan to ‘transform’ data collection
Decade-long effort to overhaul data standards and methods of reporting
Monetary innovation required to respond to next crisis – Riksbank’s Breman
Deputy governor thinks fiscal and monetary policy co-ordination will be increasingly important
Covid-19 highlighted machine learning model limits – BoE research
Economic downturn could not have been forecast on the basis of data alone, BoE says
People: Former Bank of Tanzania governor dies
Fed appoints chief innovation officer; World Bank names new head of International Finance Corporation; and more
Zimbabwe’s government replaces central bank MPC
Finance minister changes entire MPC as academic observer dismisses inflation target as “fantasy”
Adding QE can fix New Keynesian models – BoE paper
“Mild adjustments” to balance sheet are enough to avoid paradoxical results, authors find
Bank of Israel maintains stimulus despite rapid vaccination
GDP shrank by 2.4% in 2020, less than previously forecast
Carney takes job on Stripe board
Former BoE governor adds role at fintech firm to growing portfolio of positions
Ugandan governor given fifth term following national election
Uncertainty surrounds timing of Mutebile’s return to office, as deputy steps in at latest MPC meeting
Kenneth Montgomery on the Fed’s progress with instant payments
The FedNow project leader speaks about Covid-19 payment behaviours, a new liquidity management tool and what it will take to achieve ubiquitous instant payments in the US
IMF chief economist has ‘no concerns’ over inflation in US
Biden plan likely to cause 2.25% inflation, within Fed’s framework, Gopinath says
Saudi Arabia to launch instant payment system in days
New system will go live following successful pilot with Saudi banks – Sama
Norges Bank’s policy space ‘almost exhausted’ – governor
Norwegian governor warns public spending is increasingly dependent on sovereign wealth fund
Singaporean government names new SWF head
Chief of Temasek’s investment arm to take top role as Ho prepares to end nearly 18 years in charge
Kenya’s central bank transfers $45.6m to government
IMF approves pause in fiscal tightening as Kenyan authorities deal with impact of pandemic