Central Banking
Carstens warns QE strengthens ‘fiscal-monetary nexus’
BIS chief warns central banks over using up “credibility capital” by their Covid-9 responses
RBI chooses to ‘look through’ above-target inflation
New committee chooses to focus on growth as supply factors push up inflation
G-7 central banks agree CBDC principles
BIS joins with leading central banks to set out principles for deciding to issue CBDCs
Carbon tax could help monetary policy – ECB paper
But tax will only improve welfare if alternatives to carbon-based power are available, say researchers
Fed and OCC act against Citigroup
US lender fined $400 million by OCC as regulators cite poor risk management
Israeli reserves fall in September
Portfolio shrinks for the first time in 2020, falling by 0.7% due mainly to falls in equities
Ukrainian governor denies wanting to force deputies out
Shevchenko says reprimand was over communications, but observers warn of political pressure
Riksbank defends corporate bond purchase programme
Central bank says increasing reliance on bond issuance warrants intervention
Fed minutes reveal debate over forward guidance
Some FOMC members warned stronger forward guidance in new framework would tie Fed’s hands
UK’s FCA bans crypto derivatives for retail investors
FCA says retail crypto assets have no reliable valuation basis and could increase financial crime
Should the ECB follow the Fed in adopting a dual mandate?
Current and former officials argue an expanded mandate could prove ineffective and compromise ECB’s independence
New Zambian governor appointed after Kalyalya dismissed
IMF takes unusual step of issuing statement in support of central bank independence
Powell says economy faces risk of downward spiral
Risks from aggressive policy action are much smaller than risks due to inaction, Fed chair says
Unemployment is a national priority, says RBA’s Lowe
Central bank’s latest data shows unemployment at 7.5%
IMF staff warn ‘exceptional’ demand for funds likely to continue
Executive directors agree to extend debt relief and higher borrowing limits, but further support relies on political backing
Austrian paper estimates effects of European helicopter money
Researchers use data on likely consumption of windfall income from survey of 17 European countries
BoE may update resilience guidance, post-Covid
Granular targets on minimum service provision after outages could be revisited, adviser suggests
Ukrainian central bank council reprimands deputy governors
Vote puts pressure on Rozhkova and Sologub to quit central bank in latest move against reformers
IEO calls for IMF to rethink house view on capital controls
Independent review says 2012 reform was helpful but still suffers from shortcomings
ECB and Riksbank study cross-currency instant payments
Currently Tips only allows transactions between accounts in the same currency
Global fraud framework needed as digital transactions rise – report
Covid-19 has forced consumers to trust new payment methods, but it could come at a cost
Sama launches polymer version of five-riyal banknote
New note will circulate alongside existing cotton banknotes
RBI appointments clear way for delayed MPC meeting
Three new officials will start setting Indian monetary policy this week
Fed’s new framework splits opinion
Former Fed officials offer mixed reactions to average inflation targeting, with most calling for the US central bank to refine its communication