Central Banking
The Fed can afford to loosen policy
As (nearly) the world’s most hawkish central bank, the Federal Reserve is right to start monetary loosening, writes Steve Kamin
Iceland eases monetary policy by 25bp
MPC cuts rates as CPI inflation excluding housing heads towards target
Basel III endgame adoption more than doubles
Annual monitoring exercise shows progress, but US and some emerging markets lag behind
Hungary’s central bank increases gold reserves by 16.4%
MNB now has highest per capita bullion stocks in central and eastern Europe
RBA bars two banks from private briefings after leaks
Incidents raise concerns over practice of holding off-the-record briefings with market participants
BoE will need to closely monitor shift to T+1 if it is to succeed – report
UK will move to accelerated settlement by 2027, even if rest of Europe has yet to align
Rate markets had lucky escape from August stock crash, says BoE
FPC minutes suggest spillover might have occurred were it not for positive macroeconomic news
Risk management ‘key’ to monetary policy – IMF’s Kammer
Fund’s Europe chief urges central banks to rely less on forecasts when inflation is high
FOMC in no hurry to cut rates, says Powell
September’s loosening reflects growing confidence in soft landing, argues Fed chair
US auto loan delinquencies focused in new lending – study
Lower credit standards and higher payments, not interest rates, are key contributing factors
Jamaica and Dominican Republic announce 25bp cuts
Caribbean central banks continue their easing cycles
Shared EU debt not ‘essential’ for competitiveness boost – Draghi
Former ECB chief also says his proposal for €750bn of extra annual investment is “conservative”
Libya’s parliament approves central bank compromise deal
Path now set for appointments of governor, deputy governor and board of directors
Colombia cuts rates by 50bp in split decision
Uncertainty over fiscal budget prevents further easing, analysts say
Fed relief plan for G-Sib agency clearing welcomed
Rollback may revive interest in European FCM model, as principal clearing still treated punitively
How (not) to review your monetary policy framework
The Fed made some mistakes in its last strategy review. As it prepares to have another go, it could learn from other central banks
RBNZ looks into promoting competition among banks
Central bank mulls greater access to its interbank payments system and changes to capital rules
‘Unpredictable’ risk driven by AI, geopolitics – Lagarde, Buch, Rehn
European supervisors call for caution – and more authority – at ESRB annual conference
IMF board approves funding to Pakistan
Institution disburses around $1bn in first instalment of extended facility
Machine learning can improve inflation forecasts – IMF paper
Model for Japan is “easily interpretable” and overcomes some drawbacks of standard models
Banxico study points to knowledge gap in analysis of Fed policy
Examining “information shocks” can lead to better assessment of the impact of FOMC decisions
Sri Lanka holds interest rates
Central bank to introduce single policy rate in “near future”
Fed’s new liquidity rule spells more pain for US regional banks
Limit on HTM assets follows move to deduct unrealised losses from capital buffers
Czech Republic, Sweden and Switzerland cut rates
25bp cuts across Europe follow Fed’s footsteps