Central Banks
Claudio Borio on financial cycles, operating frameworks and non-bank reform
The BIS veteran highlights a ‘unique constellation’ of challenges as central banks travel the ‘last mile’ in bringing down inflation – and says there are many more miles to go on non-bank reform
Ex-governor backs candidate who wants to abolish BCRA
Guido Sandleris says ‘continuity of Kirchnerism’ would be worse for Argentina
SNB cuts interest payments amid losses
Swiss central bank lost over Sfr12 billion in Q3
Book notes: The economic government of the world 1933–2023, by Martin Daunton
A deep dive into the politics, personalities, trade theory and trade practice of the era, but missing a crucial element: the collapse in the US stock of money
BoJ scraps rigid bond yield cap
Central bank further loosens YCC, ends daily bond buys and raises inflation forecasts
Polymer adoption stalls in 2023
Only two benchmark respondents have concrete plans to change substrate
Zimbabwe cuts policy rate to 130%
Reserve Bank reduces rate by 2,000bp as inflation eases, according to official figures
Court grants Evergrande five more weeks to avert liquidation
Hong Kong court gives Chinese developer until December 4 to revise restructuring plan
Former executives of troubled lender wanted by Vietnam police
Central bank is looking for investors to acquire failed Saigon Commercial Bank
‘Digital pound’ needed as cash successor, says BoE’s Cunliffe
Departing deputy governor says CBDC could be necessary by decade’s end
Russia raises rates, Ukraine lowers them
High domestic demand pushes up prices in both countries
The predicament of bloated central bank balance sheets
Swollen balance sheets carry significant risks for combating inflation, ensuring financial stability and preserving central bank credibility, independence and effectiveness. How can central banks reduce them?
Central banks maintain average of four cash centres
Figure has remained stable for the last five years
China sets up renminbi clearing bank in Laos
New currency clearing arrangement is China’s fifth in South-east Asia
Costa Rica and Paraguay whittle away at rates
Both countries make 25bp cuts as inflation falls
Chile continues lowering rates, despite weakening peso
Central bank also halts reserves accumulation, citing market turmoil
Fed proposes lowering permitted debit card fees
Proposal draws ire from Michelle Bowman and banking trade associations
Swedish parliament urged to reinforce legal status of cash
“More consumers and businesses need access to payment accounts,” says Riksbank governor
Remittances to Mexico reach record high, says Dallas Fed
Researchers say strong US construction sector fuels funds transfers
Slightly more central banks have access-to-cash policies
Almost two-thirds of respondents have access policies and nearly half minimum service rules
Bank of Canada holds policy rate again at 5%
Central bank suggesting rates will stay high as inflation remains strong