Central Banking
Rates round-up: Poland holds rates despite high inflation
Serbia and Bulgaria raise rates as double-digit inflation plagues eastern Europe
Law change set to make Fed reveal holders of master accounts
Amendment grew out of dispute between Republican senators and Kansas City Fed
BIS bulletin weighs pros and cons of ‘front-loaded’ tightening
Recent rate increases are highly synchronised and twice as fast as previous cycles, authors say
Italy to allow larger cash payments despite central bank objections
Official warns move could encourage illicit activity
RBA’s Jones calls for more analysis on CBDC
Benefits need to be set against “careful consideration” of downsides, assistant governor says
BIS paper finds ‘mixed’ evidence of non-banks triggering spillovers
“Extreme” capital flows have not worsened, but central banks are also more active, authors note
Brazil and Paraguay hold rates, while Curaçao opts for rise
Inflation has almost halved in Brazil in six months since April, but board says fiscal outlook uncertain
Dollarisation did not prevent monetary financing, paper finds
IMF researchers show how Ecuador created central bank money without its own currency
Chile pauses rate hikes, but Peru continues tightening
Peruvian board carries on with policy meeting despite political turmoil
Bank of Canada raises rates again
Central bank notes growth is stalling and will consider if more raises are needed
Kenya central bank restores mobile money transfer fees
Move will reverse anti-Covid measure, but cut fees from 2020 rates
BSP governor issues ‘1MDB’ warning over proposed fund
Some legislators have proposed sovereign wealth fund, but critics warn it could increase corruption
RCEP and renminbi’s role as a reserve currency
Will the new Asia-Pacific (Apac) economic partnership support the use of renminbi in settlement and as a reserve currency?
Kazakhstan raises rate as Kyrgyzstan cuts
IMF criticises Kyrgyz monetary policy and failure to reform central bank law
Fed policy roundtable II: recession risk and sticky inflation
Academics look at forward guidance, asset purchases, and the “magic” in forecasting models
RBI raises rate 35bp to ‘break’ inflation persistence
Committee splits as it tries to balance inflation fight against continued growth
Tight policy, T-bills and Basel III affect normalisation, say researchers
Increased use of reverse repo has implications for quantitative tightening, NY Fed study says
Hungary’s Matolcsy calls economic situation ‘near-critical’
Governor blames government as inflation expected to be highest in EU
The investment outlook for renminbi-denominated assets
Bank of China (Hong Kong) assesses the prospects for renminbi-denominated assets as GDP growth slows worldwide
Housing plays growing role in transmitting ECB policy, paper finds
Labour earnings still most important means of transmission, researchers say
Fed policy roundtable: inflation targeting, asset purchases and uncertainty
Academics look at forward guidance, asset purchases, and the “magic” in forecasting models
Malpass says debt relief critical for poor countries
World Bank president says world risks “disorderly default process”
Ethiopian central bank orders branch reopening in conflict-affected areas
Banks must complete audits and collect non-performing loans