International
Advanced economies most likely to survey trust and understanding
Data shows differences in how central banks judge the effectiveness of monetary policy
Low rates have small effect on bank profitability – researchers
A 100bp rate cut results in 5bp fall in banks’ net interest margins on average, study shows
Caution needed with forward guidance and QE – IMF’s Gopinath
“Straitjacket” of ultra-loose policies may have delayed response to inflationary shock
Corridor systems most used to set monetary policy
Floor systems less popular overall but widely used with asset purchase programmes
Georgieva says $100 billion in SDRs donated
IMF chief says 2021 goal reached, but critics note Congress has not approved US pledge
Payments Benchmarks 2023 – executive summary
Payments are undergoing rapid technological change, creating opportunities – and challenges
RBI’s Shaktikanta Das on financial sector reform, sticking to inflation targets and the e-rupee
The Reserve Bank of India governor speaks about developing credible self-insurance and sizeable FX reserves, inter-dependence with government, non-bank and bank regulatory reforms, demonetisation, rupee internationalisation and daily UPI payments hitting…
Central banks face tough fight for ‘last mile’ of disinflation – BIS
Credit losses could rival global financial crisis in higher-for-longer scenario, institution warns
BIS says strategic plan now 80% complete
Institution reports rise in profits as it continues to overhaul banking services
Zambia agrees foreign debt deal
Government agrees to repay faster if IMF assesses its ability to do so has risen
Payments Benchmarks 2023 report – moving money in shifting conditions
Data reveals differences in CBDC paths, RTGS systems, instant payment plans and budgets
Legislation is needed for future-reliable cash infrastructure
Dutch finance ministry’s recognition of cash’s “very important” role in payments and financial system functioning is crucial to safeguarding access and acceptance, says Martina Horakova
Why fear, paranoia and distrust swirl around CBDCs
Populists and conspiracy theorists are exacerbating public concern about retail CBDCs. What can central banks do about it?
IMF’s Adrian draws ‘blueprint’ for international CBDC platform
Model would use common token, exchangeable with central bank reserves
Unified ledger could usher in ‘profound’ economic change – BIS
Hyun Song Shin describes single platform for public and private money as “game changer”
Rate risk under Pillar 2 left ‘hole in the system’ – Ingves
Former Basel chair says rate risk “probably” should fall under Pillar 1; greater focus needed on liquidity rules
Strategic investment yields bigger impact than tactical, say managers
Central Banking Summer Meetings: Active investment is essential to understand market dynamics
Cash here to stay, at least as a store of value
Central Banking Summer Meetings: As cash use in payments decline, it may become unprofitable for private actors
Populists can pressure central banks to cut rates, paper finds
Researchers say the most populist governments can get rates lowered by 30 basis points
People: Israel appoints new chief supervisor
IDB appoints chief operating officer; IADI gets new head; and more
Saudi SWF merges golf outfit with US rival
PIF ends legal disputes and becomes a leading power in the sport
Central banks’ pandemic interventions averaged 6% of GDP
IMF paper finds relief measures were three times bigger than in global financial crisis
AI may demand ‘entirely new’ regulatory approach – IMF’s Gopinath
Deputy managing director says artificial intelligence risks “broad negative effect” on employment
Rule-setters need to heed their own advice
The US risks a reputation for failing to meet standards to which it holds others