Central Banking
Central Bank of Kenya cuts rates by 25bp
First reduction in more than four years comes as inflation declines and CBK issues new banknotes
CBDCs amplify contractionary effects of monetary shocks – BoC paper
However, research finds no substantial change to transmission mechanism
PBoC stops injecting short-term liquidity
Decision adds to central bank’s recent efforts to tame rally in long-term government bonds
Major UK banks better placed for resolution, says BoE
Central bank publishes new assessment on institutions’ resolvability in the event of failure
Too soon to declare victory on inflation – World Bank report
Economists say central banks should proceed with caution to avoid upside risks
Japanese officials pledge vigilance on financial markets
BoJ, finance ministry and regulator hold emergency meeting after country’s biggest fall in equities since 1987
US Helocs rise after years of decline – research
Study by Kansas City Fed warns balances are outsized compared with debt consolidation
Central banks buying more gold
Emerging markets led way in sales and purchases for June, according to World Gold Council
Why was Archegos worse than the Fed’s five-fund stress test?
Some believe Credit Suisse was an outlier, but others say the CCAR results underestimated risks
Turkey records 10-point drop in annual inflation for July
Year-on-year figure down to 61.78%, but monthly figure still rising
MAS review aims to boost Singapore’s stock market
Central bank-led group will look into how SGX might attract more IPOs
Japanese market shock threatens to spill back to US
Sudden unwinding of carry trade could impact Fed decision-making, analysts say
NY Fed study documents widespread manufacturing slowdown
Firms of all sizes in industries across US are affected, according to research
Bank of Thailand announces measures to ease household debt
Central bank extends easier repayment rules for card users and persistent debtors
US productivity may fuel interest rate divergence and dollar strength – Fed study
Business dynamism and financing conditions may explain lack of spillover into other advanced economies
Malta’s central bank governor steps down to fight criminal case
Bank says Scicluna is leaving temporarily to “defend his innocence”
Bank of Italy makes its new DLT protocol open source
Research says novel cryptographic signature could validate payments and digital asset transfers
PBoC adviser calls for more expansionary economic policies
Monetary policy committee member advocates stronger measures to alter market expectations
Czech National Bank cuts rates to 4.5%
Reduction of 25bp comes after headline inflation falls to 2% target
RBNZ explores new ways to monitor financial stability
Researchers model based on news sentiment and NPLs in latest research
Fed urged to introduce annual high-rate stress tests
Results of debut scenario were reassuring, but regulators cannot lower their guard
BIS: new platform can monitor stablecoins’ balance sheets
Institution says its Project Pyxtrial can track digital currencies’ assets and liabilities
Bank of England cuts rates for first time since 2020
MPC votes for 25bp reduction in split decision after Fed opts to hold