Central Banking
IMF warns Iceland over bank privatisation and housing market
Some bank investors have conflicts of interest and housing market is overheating – report
Taiwan completes phase two CBDC trials with banks
Resolving further challenges could take at least two years, governor says
Danish central bank sceptical on retail CBDC
Report says existing payment systems offer similar benefits, but case for CBDC could change
US citizen pleads guilty to selling technology to Iranian central bank
Defendant faces jail after using UAE shell companies to skirt US national security law
Bank of Jamaica continues tightening cycle
MPC adds 50bp, describing May inflation drop as mainly due to “temporary effects”
G30 warns US Treasury market remains vulnerable
Group says US regulators need to do more to prevent dysfunction in the critical market
Riksbank carries out largest rate rise since 2000
Swedish central bank says chances of wage-price spiral have increased
Libyan central banks have open dispute as political climate worsens
Tripoli-based central bank denies counterpart’s claims of lack of liquidity
New Philippines governor says he may accelerate tightening
Felipe Medalla says policy rates could be raised by more than 25 basis points
Top central bankers admit inflation models fell short
Reliance on Phillips curve and demand-driven models may have created blind spots
Campos Neto says ‘worst of the inflation’ has passed
Brazil’s governor says central bank “came out ahead” of price increases
Central banks should take on more credit risk during stress – BoE paper
Research claims generous credit terms can be more efficient than cutting the risk-free interest rate
US targets North Korean crypto hacking
Treasury seeks co-operation to better enforce sanctions on North Korea and Russia
GFXC launches tool to spur buy-side adoption of FX code
Standard-setter aims to overcome “lukewarm” buy-side response with web-based prototype tool
Williams also expects US to avoid recession this year
Unemployment will likely rise to 4% as growth slows due to tightening process, says NY Fed head
Banking systems’ long-term systemic risk has grown – ECB paper
Assets became safer but banking systems’ failures were more harmful, analysis finds
Hungary makes shock 185bp rate increase
Central bank responds to inflation and weak forint with largest increase since 2008
State Bank of Pakistan appeals to supreme court over interest ban
Sharia court ordered Pakistan to adopt fully Islamic banking system within five years
Crypto a ‘wake-up call’ for central banks
Digital economy needs CBDC as risk-free asset, say panellists at ECB’s Sintra conference
Zimbabwe central bank raises policy rate to 200%
Finance minister guarantees use of US dollar through 2025, while RBZ will mint gold coins
Fed’s Evans and Bullard downplay recession risks
Both presidents looking to increase the policy rate to around 3.5% by the end of the year
PBoC chief vows to keep policy accommodative
But economist expects room for China to cut interest rates further to be small
Czech central bank raises rates after inflation hits 16%
Expectations could become unanchored from 2% inflation target, board warns
IMF approves $4 billion payment for Argentina
Country passes first IMF review, but reserves have declined in recent weeks