Central Banks
Fed provides update on future RTGS system
FedNow cross-border payments could be considered in future, the central bank says
Global growth will strengthen in 2020, says strategist
Central banks should be cautious about responding to manufacturing slowdown, Kevin Gardiner says; Fed likely to cut again in September 18 decision
BIS: forex volumes rise to $6.6 trillion as London trading soars
While the UK capital reinforces its prominence in forex markets, trading in Asian currencies heats up
FCA chief calls for EU to extend Brexit clearing exemption
Bailey also urges EU to grant equivalence determinations for UK trading venues
Lane stresses broad consensus on ECB policy
Comments come after criticism from German and Dutch central bank governors
Zimbabwean rates hit 70% as inflation remains in triple digits
Central bank attributes rapid price rises to restructuring of the economy; rates will now be set by monetary policy committee
Bank of Israel proposes measures to stabilise social security system
Benefit payments set to rise faster than GDP in the coming decades, warns central bank
Central banks are ‘riders on the storm’, say Jordà and Taylor
Central banks control less than half the overall variation in interest rates, authors find
Overseeing China’s payments revolution
The PBoC has tried to strike a balance between facilitating bigtech innovation and reining in risks, amid an explosive growth in mobile payments
Dutch governor attacks ECB’s new stimulus
Klaas Knot says rate cut and QE is “disproportionate to present economic conditions”; Germany's Weidmann also critical
Book notes: Narrative economics, by Robert Shiller
The book is good fun to read, but some elements are a little disappointing
Peruvian central bank on hold as outlook improves
The central bank cut rates in July amid weaker growth and global volatility
Fed policy is reinforcing overvalued equities, Shiller warns
Robert Shiller talks to Central Banking about his latest research, “Narrative Economics”
Denmark cuts main rate, mirroring ECB’s move
Scandinavian central bank has pegged the krone to the euro since the single currency’s launch
Papua New Guinea upgrades payment system
More financial institutions to use new central switch in bid to improve efficiency and inclusion; international networks also to be added
BoE paper looks at how to halt ‘cascade’ of settlement fails
“Buy-in” process could help to avoid system-wide “gridlock”, but design is challenging
BoE’s Hauser urges firms to adapt to forex market fragmentation
Less sophisticated firms are paying much higher spreads, executive director says
Norges Bank lays out plans for collateral management during resolution
Liquidity assistance in a resolution will “never” be a long-term solution, Torbjørn Hægeland says
ECB cuts rates to new record low and re-starts QE
Deposit rate decreased to –0.5% and open-ended asset purchases launched at €20 billion a month
Singapore looks to establish term RFR by 2020
Swaps linked to overnight rate will help create term structure, says industry committee member
People: Colombia appoints new policy board member
Roberto Steiner joins the Central Bank of Colombia; UK FCA appoints chief economist; new PSR head named
Turkey launches second major rate cut
Central bank slashes further 325 basis points off main rate
ECB corporate QE also transmitted through bank lending – ECB research
Spillover effect independent from banks’ balance sheet quality
‘Non-salient fees’ matter for mortgage pricing – BoE paper
Many borrowers appear to be less sensitive to fees than to interest rates, and firms exploit this