Central Banking
Demand shocks can have permanent impact on US economy – Fed paper
Authors find hysteresis is an important driver of longer-term growth trend in US
Former Ecuadorian governor arrested in Miami
US authorities arrest Delgado for immigration violations nine years after he fled Ecuador
ECB announces moderate cut in net asset purchases
Council unanimously agrees adjustment despite mid-term below-target inflation projections
Pandemic Treasuries market calmed quickly – research
Dallas Fed analysis finds “headwinds” early on, but not lasting pandemic disruptions
Carolyn Rogers hits back at critics of Basel III
BCBS secretary-general dismisses “very tired” arguments against full implementation
Sarb governor urges shift to narrow inflation target
Kganyago says it was a “mistake” to maintain a target band for so long
Bank Indonesia tells banks to provide financing to SMEs
As much as 30% of banks’ loan books will need to be directed to small businesses
Iraqi court jails foreign engineers over central bank dispute
Australian engineer’s family say he was jailed to pressure firm over troubled project
Bank of Canada on hold as growth proves weaker than expected
Second quarter contraction comes as Canadian exporters struggle with bottlenecks
People: Former Malawi governor dies
RBNZ deputy governor departing; new appointments in Nigeria; and more
Bank of Zambia governor resigns
Mvunga leaves following change in presidents, amid high inflation
Eurosystem calls for full Basel III implementation
Supervisors say output floor should be implemented through single set of risk-weighted assets
BoE permits cloud usage to support ISO 20022 migration
Cloud usage must be “controlled” and not risk wider payments ecosystem, BoE report says
Bitcoin becomes legal tender in El Salvador
Observers warn move could further destabilise the fragile Salvadoran economy
MAS demands crypto exchange Binance cease operations
Move came after UK’s FCA said firm failed to provide sufficient supervisory information
BoJ unveils new 10,000-yen note
New banknote features “father of Japanese capitalism” and is set for issue in 2024
Lending rate rigidity weakens eurozone monetary policy – BdF paper
Asymmetric costs in changing bank lending reduce effects of looser policy
RBA delays bond purchase review until 2022
Central bank pushes back review as new Covid outbreak threatens to delay recovery
BoJ deputy cautions against ‘premature tightening’
Core CPI is not the sole indicator of the BoJ’s monetary policy, says Wakatabe Masazumi
Norges Bank given new macro-prudential responsibilities
Government assigns central bank power to set countercyclical capital buffer
Germany should aim to cut corporate savings – ECB paper
Investment and banking reforms are needed to cut German firms’ savings, say researchers
Danish central bank positive on ECB strategy review
New 2% symmetric target could boost inflation, report says; climate change may impact price and financial stability
Regional Feds make string of appointments
Atlanta, Cleveland and Dallas Feds name officials, while St Louis appoints outside advisers
BIS to throw open doors for 90th anniversary
Delayed celebration will invite public to multimedia exhibition in main tower