Central Banking
Monetary policy impacts innovation, says research
Paper presented at Jackson Hole conference finds tightening can decrease R&D spending, cutting long-term growth
Lagarde envisions new model for world of ‘shifts and breaks’
ECB chief predicts bigger supply shocks and relative price swings in future
SEC targets NFTs in enforcement action
Two commissioners dissent from first SEC action against NFT issuer
Policy rate is Fed’s most powerful monetary tool, says paper
Researcher tests impact of changes in short-term rate, forward guidance and asset purchases
China rolls out more support for property sector and stock market
Authorities cut stamp duty on stock trades for first time since 2008 and relax home-buying rules
Powell gives hawkish speech at Jackson Hole
Fed chair warns monetary policy could do too little or too much
BoE study recommends ‘simple and flexible’ CBDC infrastructure
Central bank needs to be wary of firms wielding too much market power, author says
US inflation hurting poorer citizens – St Louis Fed research
Nearly 90% of low-income households report significant stress from inflation
RBA says CBDC decision is likely ‘some years away’
Australian central bank says a CBDC might improve payments system but also questions its necessity
Kazakhstan cuts main rate as outlook improves
Governor says inflation should keep falling but fiscal policy or Russian prices could derail forecast
IMF modifies deal with Argentina
Fund disburses $7.5 billion ahead of elections despite finding government failed to meet some targets
Iceland raises main rate 50bp as inflation persists
Inflation is falling but central bank warns “strong demand pressures” remain
BIS paper highlights costs and benefits of crypto regulation
Decision to regulate needs to be backed by data and clear frameworks, authors say
South Korea and Indonesia hold rates
Bank Indonesia says it will issue securities in bid to bolster rupiah
Cambodia and Laos launch cross-border payments link
Travellers from the two countries will be able to shop in their home currencies using QR codes
Central bank communicators at a time of transparency
Specialists discuss the evolving roles of comms staff in the policy-making process
Prospects for Palestinian economy ‘bleak’, IMF says
Fiscal crisis and “volatile” security situation undermine hopes of recovery
CPMI-Iosco report surveys CCP tools for ‘non-default losses’
Losses from investment risk or cyber attacks could threaten a CCP’s survival, report says
US wage expectations rising, says NY Fed labour market survey
Both lowest acceptable transitionary wage and expected salary hit series highs
Generative AI has ‘broad systemic implications’ – IMF
Economists argue regulators need to take action now to mitigate risks
MAS finalises rules for stablecoins
Singaporean central bank to label qualified coins as “MAS-regulated stablecoins”
Fed throws curveball with agency clearing surcharge proposal
Revived plan could see capital for G-Sibs’ client clearing jump 40 times, says industry body
Digitalisation has complex impact on monetary policy – BoC paper
New technologies could affect policy transmission, communication and data tools
BoE researchers call for more advanced stress-testing techniques
Survey finds “great strides” in modelling but calls for greater complexity and feedback loops