Central Banks
Fed governor says rate cuts shouldn’t be rushed
Christopher Waller argues that US economy is strongly positioned
ECB research examines big issues affecting productivity
Reports assess impact on eurozone of digitisation, climate change and pandemic lockdowns
IMF builds new measure of central bank independence
First “entirely new” metric in 30 years seeks to overcome limitations of much-cited paper
Malaysian governor urges firms to support currency
Cambodian and Malaysian central banks will launch a new cross-border payments link
AI being adopted in over half of central banks
Supervision, document automation, data analysis and research are primary areas of use
Local banks key to mitigating climate-related risks – BDE paper
Study finds “outsider” banks less responsive to needs of companies affected by wildfires
Legislation needed to break non-bank deadlock – BIS’s Borio
Panellists at BoE event highlight array of shortcomings with regulatory framework
Bundesbank and DNB announce large losses
Dutch central bank improves its profit forecast but Nagel anticipates continuing shortfalls
Philippine central bank launches sustainable finance taxonomy
BSP is Asia’s latest monetary authority to set out framework to help tackle climate crisis
Regtech strategy still lacking in majority of central banks
Stress testing, AML/CFT risk and reporting are top areas of application
RBA names Susan Woods as first chief operating officer
Independent review called for COO role to give senior officials more time for policy matters
Pandemic inflation fuelled by food and energy prices – BoJ study
Inflation in Japan and US driven by similar product market shocks, research finds
Politicians must be able to overrule RBA, say ex-governors
Ian Macfarlane and Bernie Fraser argue government should retain veto over Australian monetary policy
ECB suffers first loss in two decades as rate risk bites
Loss takes €7 billion chunk out of central bank’s equity
Suptech strategy adoption remains below 50%
Resource constraints and data quality issues are still barriers
Book notes: The ruble: a political history, by Ekaterina Pravilova
Indispensable reading for anyone interested in Russia and comparative, long-term historical accounts of monetary ideologies and practice
Monetary policy more effective when inflation is high – NY Fed
Study casts doubts on linear models that average out impact during periods of high and low inflation
RBI challenges IMF’s call for larger fiscal consolidation
Study argues bigger budget cuts not necessary if government focuses on development spending
BoE’s Dhingra says restrictive policy risks ‘scarring’ economy
MPC member warns that focusing on pay and services inflation could lead to “overtightening”
CBDCs may require hard limits, Netherlands Bank paper finds
Study says digital currencies could make people better off if transitions are well-managed