Central Banking
ECB suffers first loss in two decades as rate risk bites
Loss takes €7 billion chunk out of central bank’s equity
Monetary policy more effective when inflation is high – NY Fed
Study casts doubts on linear models that average out impact during periods of high and low inflation
RBI challenges IMF’s call for larger fiscal consolidation
Study argues bigger budget cuts not necessary if government focuses on development spending
BoE’s Dhingra says restrictive policy risks ‘scarring’ economy
MPC member warns that focusing on pay and services inflation could lead to “overtightening”
CBDCs may require hard limits, Netherlands Bank paper finds
Study says digital currencies could make people better off if transitions are well-managed
South Korean and Indonesian central banks hold rates
BoK says policy will remain restrictive for now, while BI highlights need to keep inflation stable
Banking deserts increase in ‘majority-minority’ areas of US
Dearth of facilities disproportionately affects non-white citizens and people with disabilities
Turkey’s digital lira to use ‘programmable payments’
Intermediaries will offer related services, though these may differ across providers
Carbon price has only ‘modest’ impact on inflation – IMF paper
Countries could use drop in energy prices to deliver on climate goals, authors say
Global house prices close to bottoming out, BIS stats show
Economists puzzle over absence of sharper correction
Thai PM calls for emergency central bank meeting to cut rates
BoT governor appears unswayed by call for monetary policy committee to meet ahead of schedule
US CBDC ‘could enhance dollar’s international role’
Fed research claims issuing digital currency could increase demand for dollars more generally
Inflation memories pass from parents to children – research
Fear of hyperinflation influences behaviour across generational divides
Bailey hints at possible outcome of Bernanke review
Bank of England may present range of scenarios around central forecast
China makes record cut to mortgage reference rate
PBoC unveils 25bp reduction in five-year LPR in further bid to revive flagging property sector
Nigerian president nominates seven MPC members
Central bank tightens currency restrictions as inflation continues to rise and dollar shortages continue
RBI extends deadline for Paytm to close lender
Central bank continues to target fintech for “persistent non-compliance”
Profit now key driver of inflation, BIS research finds
Recent surge in prices “fundamentally different” to that of the 1970s
PBoC holds key rate
China’s central bank refrains from further stimulus amid weak yuan
EU considering shift to T+1 or T+0 – Cipollone
ECB board member says markets are on brink of “significant shift” in digital settlement
Ethnic minorities ‘more likely to be homeless in US’ – Fed study
Point-in-time data shows Black and Native American citizens disproportionately affected
Unconscious bias ‘blights female economists’ career prospects’
Bank of Italy study examines impact of referral letters for male and female job candidates
India and Nepal to set up cross-border payments link
Project adds to growing list of similar bilateral initiatives in Asia
‘Brace, brace’: quants say soft landing is unlikely
Investors should prepare for sticky inflation and volatile asset prices as central banks grapple with turning rates cycle