Central Banks
Sri Lanka considers move to single policy rate
CBSL plans overhaul of monetary operations and improved liquidity forecasting
Dallas Fed chief backs slower balance sheet runoff
Lorie Logan says liquidity is no longer “super abundant”
Former NY Fed chief calls for overhaul of discount window
Dudley’s proposed changes include prepositioning collateral, cutting costs of secondary credit facility
GRC systems remain scarce among central banks
Minority of central banks project adoption this year, others aim to upgrade
Richard Byles on Jamaica’s inflation-targeting baptism of fire
The Bank of Jamaica governor speaks with Christopher Jeffery about forex interventions, setting up digital disruptor banks and the next steps for Jam-dex
Alberto Musalem becomes St Louis Fed president
Musalem will start on April 2 and be a voting member of FOMC in 2025
Thai prime minister clashes with central bank governor over policy
PM calls for lower rates amid negative inflation while governor criticises government’s handout plans
Indexation makes inflation more persistent, IMF finds
Economists draw conclusions from IMF survey of 190 countries’ indexation practices
PBoC official signals possible reserve ratio cut
Zou Lan hints Chinese central bank may loosen reserve requirements to spur credit growth
Repo bankruptcy exemption carries ‘significant costs’ – paper
Apparent liquidity boost from US rule is undermined by greater risk of fire sales, authors say
Most heads of risk management units report to governor or board
Risk management committees are more likely to exist in central banks than chief risk officers
DNB paper examines robustness of monetary policy
Policy must avoid tail risks caused by central banks’ uncertainty over output gap, researchers argue
Digital money could strain global financial safety net – IMF paper
Economies with existing vulnerabilities are more exposed to impact of digital money, authors say
Major Chinese shadow bank files for bankruptcy
Zhongzhi Enterprise Group’s $36.5 billion shortfall raises fears of contagion from property downturn
Philippines could cut rates by 100bp this year, says minister
Benjamin Diokno’s comments contrast with governor’s December assessment of future inflation
The risks facing the Chinese economy
China isn’t at risk of a financial meltdown, but it does face a slow puncture, writes Michael Taylor
ECB paper examines largest currency areas’ policy spillovers
Researchers study how foreign monetary policy shocks affect US, eurozone and Japan