Central Banks
Changes in interest rates impact richest 20% more than the poor – Kganyago
South African governor says microloans are shaped by factors other than monetary policy
Fed’s QE contributed to increased risk-taking by lenders – research
Mortgage real estate investment trusts increased leverage following Fed’s asset purchases
Brazil needs loose policy to safeguard recovery – IMF
Central bank held rates unchanged at record-low level on August 1
BoE mulls post-QE balance sheet policy
Central bank is “minded” to retain its floor system for setting rates, but demand for reserves is an unknown quantity
Bank of Israel begins push for open banking
Regulation of APIs designed as part of several measures to promote banking sector competition
Central bank deputy arrested as Iran grapples with forex crisis
Vice governor in charge of forex has been “arrested and sent to jail”, state media reports
Zimbabwean economy faces uncertainty after controversial election result
Violence and accusations of unfairness around the presidential election have dampened hopes of economic recovery
Reserves in Tunisia keep falling
Country battles high inflation and high deficits as it receives support from the IMF
CNB hikes in bid to tame inflation
Strong growth is boosting salaries and consumption in the Czech Republic
Indonesia launches new overnight benchmark rate
New rate replaces the quotation-based model with one based on transactions
Book notes: Till Time’s Last Sand, by David Kynaston
Kynaston allows readers to develop their own understanding of how the BoE has had to refind its place in a country where the political system has migrated from commercial republic to full-franchise democracy
Bank of England forms new enforcement committee
Six-member committee will rule on contested enforcement cases
BoE updates estimate of equilibrium interest rates
Latest data shows demographic factors have weighed heavily on real interest rates
Equities pushing US wealth inequality - Minneapolis Fed paper
Wealth inequality boosted by record-high stocks and slower growth in house prices, paper finds
Turning data challenges into opportunities
With central banks becoming increasingly reliant on data, BearingPoint elaborates on the increasing role of innovative regulatory and supervisory technology in supervision.
BoE lifts rates despite signs of a global weakening
MPC votes unanimously to raise rates to 0.75%
Fed keeps rates unchanged but points to strong economic activity
FOMC says it expects to implement gradual increases in federal funds rate
‘Bernanke targeting’ may outperform Taylor rule – Fed paper
Paper tests Ben Bernanke’s proposal for temporary price level targets