Central Banks
PBoC warns businesses not to reject cash
Businesses are being given one month to rectify their practices
Forecasting yield curve inversion is hard – Cleveland Fed research
Inversions may be a “harbinger of recession” but seeing them coming is difficult, says economist
Trump tariffs could force Fed’s hand – IMF
US central bank could be forced to raise rates more quickly if tariffs force prices higher
Central bank financing spells trouble for Guyana – IMF
Fund warns central bank financing of government could create problems for monetary policy and calls for better debt management infrastructure
ECB approves of proposed NPL backstop
European Commission’s proposed law change will not prevent supervisors from ordering banks to increase coverage – ECB
Croatian parliament reappoints Vujčić as governor after delay
Economist turned politician becomes deputy governor; three vice-governors also appointed
Monetarist perspective affects normalisation forecasts – Chicago Fed paper
Incorporating money demand into projections affects forecasts of remittances and money multiplier
Podcast: David Vines on how to reform the DSGE model
Oxford University’s David Vines believes the New Keynesian DSGE model is salvageable – but needs some serious work
US tariffs pose risk to Canada’s rate path – IMF
Bank of Canada should be prepared to cut rates if growth falters
Regulators using blockchain for KYC data sharing
Central Bank of Colombia and Federal Reserve Bank of Boston collaborate with R3 on KYC pilot
IMF demands reinforced inflation targeting in Argentina
A new central bank charter should reinforce independence, fund says
Cyprus bail-ins were justified, ECJ rules
Court rejects claims of unfair treatment from bondholders, shareholders and large depositors
FCA’s Bailey stresses need for Libor backstop
Chief executive warns firms the end of Libor is not a “black swan” event, but a certainty, as contracts referencing the benchmark continue to grow
European Court of Justice overrules ECB on French banks’ leverage
ECB’s reasoning on treatment of French savings accounts was “manifestly incorrect”, court rules
Fed signals solid growth in report to Congress
FOMC members support gradual normalisation of monetary policy
BoJ looks set to cut its inflation forecast – again
There is no exit in sight for the Bank of Japan as inflation is likely to disappoint yet again, warns Sayuri Shirai
Malaysian central bank reshuffles senior staff
Supervision function will be strengthened and critical departments will have simpler reporting line