Central Banking
PBoC extends liquidity to smaller firms after Baoshang takeover
Chinese securities watchdog also urges big brokerages to provide liquidity support to smaller securities firms and funds
Afghan governor resigns, citing health reasons
Central bank faces major challenges in war-torn country, but IMF recently praised progress
Riksbank investigates adoption of T2S for securities trading
Central bank thinks securities settlement must move towards faster, round-the-clock operations
Bolsonaro intrudes into Brazil’s economic institutions
President forces head of Brazilian Development Bank to resign; central bank denies existence of monetary union plans
IMF formalises strategy on ‘social spending’
Lagarde says tackling inequality, exclusion and other social problems is key to rebuilding trust
Venezuela introduces new banknotes as hyperinflation continues
New notes come less than a year after five zeroes were dropped from currency
Latvian state changes top regulators over AML
Law had to be passed to meet international concern over money-laundering, prime minister says
NY Fed researchers develop new natural rate of unemployment measure
Estimate is 50–60 basis points lower than other mainstream estimates
CBRT cuts rates for primary dealers
New liquidity facility designed to contribute towards financial market deepening, central bank says
Review calls on IMF to deepen monetary expertise
Independent report says IMF broadly made the right calls on risks around unconventional policy, but shortage of expertise leaves fund behind the curve
RBNZ to promote internal use of Māori language
Agreement is part of wider efforts in New Zealand to revitalise language
Carney says lack of gender diversity is ‘enormous missed opportunity’
Governor shares advice from BoE’s efforts to encourage greater diversity
High-frequency trading can harm market liquidity – ECB paper
Researcher finds increased competition can lead to rise in speculative strategies
UK and Singapore to collaborate on cyber security
BoE, FCA and MAS say they will investigate ways to share information and potentially staff
BCRA president admits inflation still too high
Outlook requires continued ultra-tight monetary policy, says central bank president
Next Bank of Jamaica governor chosen
Businessman and financier Richard Byles to take over on August 19
Putting modern monetary theory to the test
Sayuri Shirai asks whether MMT might hold the solution to Japan’s stagnation
EU must improve capital markets to boost euro as global reserve – ECB
ECB cannot “unequivocally” say euro becoming global reserve would help monetary policy – Cœuré
SNB replaces Libor with new reference rate
The future of Libor is “not guaranteed” and underlying volume is “dwindling”, says Thomas Jordan
Finnish researchers propose new crisis indicator
Bank of Finland paper compares short term credit-to-GDP ratio to "Basel gap"
CBDC could raise bank funding costs – Philadelphia Fed
Choosing an appropriate interest rate could help alleviate problem, say researchers
Polymer banknotes caused sharp fall in UK counterfeits – BoE
Bank of England reports reduction from 1,000-plus fake notes a month to single figures
Martin Feldstein, 1939–2019
The US economist was hugely influential in shaping both policy and economic research
IMF welcomes Tunisia’s tougher monetary policy
Further rate increases might still be warranted this year, say executive directors