News
BoE holds rates and cuts 2024 growth forecast to 0%
‘More evidence’ needed before cuts, though bank expects inflation to reach 2% by 2026
Russia hosts Brics talks over cross-border use of CBDCs
Summit takes place in Moscow with bloc’s new Middle Eastern and African members
BoJ policy-makers signal end to negative rates
Summary of meeting shows board members see higher chances of achieving virtuous wage-price spiral
EquiLend cyber hack exposes trade reporting dependence
Ransomware attack at securities lending platform disrupts regulatory compliance
China pulls report on merger of ‘bad banks’ with SWF
Tie-up could help separate government’s roles as regulator and shareholder in managers of bad debt
Italian governor concerned over Russian asset seizure, officials say
Panetta says renminbi has overtaken euro as international currency since Russia invaded Ukraine
Swedish central bank affected by ransomware attack
Riksbank’s HR and payroll reportedly still impeded after hackers targeted third-party cloud provider
Singapore keeps monetary policy unchanged
Central bank expects core inflation to fall gradually amid lower import and domestic costs
Hong Kong court orders liquidation of Evergrande
Decision could lead to complex winding-up process for debt-laden Chinese developer
Turkish central bank raises rates but hints tightening is over
Governor denies accusations against her family as inflation continues to rise
‘Digital pound’ enters next stage of design phase
BoE and Treasury outline how CBDC could work and try to allay concerns
Clearing members fear CFTC bending rules for crypto
Critics warn new framework for Bitnomial and LedgerX could undermine clearing integrity
ECB holds rates as Lagarde expresses optimism
Several observers think rate cut before June is more likely as ECB says policy is working
South Africa holds rates in unanimous decision
Governor reiterates inflation must fall further before there can be cuts
PBoC and HKMA strengthen financial ties
Hong Kong to accept onshore bonds as collateral for RMB funds, as PBoC looks to open up repo market
Faster deposit flows will affect bank runs, ECB paper says
Bindseil and Senner say several factors are increasing size and speed of deposit runs
Central banks face ‘black box’ effect in AI, warns BIS
Institution’s latest bulletin underlines the opportunities and challenges of machine learning
Internal investigation criticises former Boston, Dallas Fed chiefs
Report says officials created appearance of conflict of interest, but stops short of alleging criminality
PBoC announces biggest cut in banks’ reserve ratios for two years
Governor says 50bp reduction will free up 1 trillion yuan into financial system
HKMA proposes easing data-sharing rules between banks
Hong Kong authorities cite need to tackle digital fraud and money laundering more effectively
Over half of ECB staff think Lagarde’s work is poor, union claims
ECB rejects survey as flawed and says its own figures show high levels of pride among staff
Lower immigration affecting US household spending power
Low immigration has contributed to increased prices of consumer goods, argues Atlanta Fed
Venezuela shuts down state cryptocurrency
Petro overseer had been embroiled in scandals, including over $21.2 billion of missing oil payments
Japan’s central bank leaves negative rates policy unchanged
BoJ governor sees progress in reaching inflation target but won’t say when ultra-loose lending will end