Central Banking
Supervisors see promise in AI but warn data remains key
IMF’s “StatGPT” project has promise but data problems are hard to solve, Regnology panellists say
Singapore, Malaysia and Indonesia launch cross-border payment links
Indonesia and Singapore say they intend to set up local currency settlement framework in 2024
Defending the basis
Benefits of additional Treasury liquidity may outweigh potential intervention costs during a hypothetical panic, writes Joseph Wang
Nigerian central bank again postpones policy meeting
CBN has not held policy meeting since May despite 10 months of rising inflation
Milei wins, putting the BCRA in the firing line
Candidate has promised to abolish central bank and encourage dollarisation
Israeli PM offers Yaron second term as governor
Yaron’s future as governor had been in doubt after Netanyahu refused to comment on his role
China and Saudi Arabia set up currency swap line
Three-year swap line will provide liquidity to both sides of up to $6.98 billion
Chinese regulators grant Mastercard bank card licence
PBoC gives US firm approval to issue yuan-denominated cards after Xi-Biden meeting
Lagarde calls for stronger EU securities and markets authority
ECB president stresses completing capital markets union is essential to deal with deglobalization, ageing and climate change
IMF renews Mexico’s flexible credit line
Two-year deal provides Mexico with $35 billion in case of crisis
IMF launches CBDC handbook
More data and methodologies needed to understand impact of all new means of payments
Nigerian central bank warns against cash panic
Central bank ends currency replacement plan as Cardoso pledges more limited role
More female Stem workers could boost Japan’s productivity – study
Tackling gender pay gaps and discrimination against female researchers could accelerate growth
Visa and Mastercard power Kazakhstan’s CBDC debit cards
Digital tenge also designed to ensure “targeted and efficient government spending”
Hong Kong’s currency peg under strain – US report
Hong Kong’s currency peg to the dollar touched its weak side more than 40 times over a year
Paper calls for Sarb to pass reserves to South African government
Report says central bank contingency account appreciated by nearly $8 billion
Strong dollar harms EME bond market liquidity – BIS paper
Dealer intermediation vulnerable to both “original sin” and “original sin redux”
MAS to test “live” wholesale CBDC next year
Central bank chief Ravi Menon backs CBDCs, stablecoins and tokenised bank liabilities as digital money
FDIC to review sexual misconduct and discrimination allegations
Agency promises ‘independent review’ as chair faces charges of improper behaviour
Foreign real estate investment increases employment – research
The authors found the properties are often left empty, but drive up home values and employment
European Commission lowers 2023 GDP growth forecast
EC expects eurozone economy to expand by 0.6% this year
Bank of Portugal’s ethics committee clears Centeno
Central bank says governor did not act wrongly in political crisis
Bank of Israel warns government over war spending
Central bank says crisis will have long-term costs and casts doubt on funding plans
UK inflation falls more than BoE had expected
Housing prices fall year on year for first time since 2012, while energy prices also decline