Central Banking
UK committee claims China may have ‘engineered’ AIIB job
Legislators say China gave jobs to Alexander, Cameron and others to gain influence
Ecuador refines more than a half-tonne of gold from small miners
Latest stage of gold purchase programme adds $36.1 million to reserves
FSB unveils crypto regulation framework
Recommendations were toughened to reflect failure of FTX and terraUSD/luna stablecoin
PBoC holds key rate amid lacklustre GDP growth
Chinese economy grew 6.3% in second quarter, missing expectations by a full percentage point
Hong Kong proposes raising deposit insurance
Proposed change will bring the ratio of depositors being covered to 92%, regulator says
Collateral use could destabilise markets, BIS economists warn
Borio and co-authors highlight “seismic shift” in markets and call for action by policy-makers
Nigerian court orders release of former governor
Lawyers argue that Emefiele’s month-long detention is unlawful
IMF approves $3 billion short-term loan for Pakistan
Saudi Arabia and UAE provide $3 billion more as country tries to overcome crisis
Bullard steps down as St Louis Fed president
FOMC hawk will become dean of Purdue Business School after 15 years leading regional Fed
Michele Bullock to become first woman to lead the RBA
Deputy governor to replace Philip Lowe in September, as central bank prepares for reforms
US basketball chief: sovereign wealth funds cannot buy teams
Statement follows Qatari fund buying minority stake in owner of Washington Wizards
Researchers use natural language processing to estimate inflation
Applying NLP techniques to earnings calls provides useful economic indicators, paper says
Senate committee backs Biden’s Fed nominees
Legislators unanimously back Jefferson, but most Republicans oppose Cook and Kugler
Bank of Canada raises rates despite falling inflation
Governor warns progress towards price stability “could stall”
US regulators fine Bank of America $150 million
BoA pays out nine-figure penalties for consumer malpractice for second year in a row
Egypt announces ‘record’ inflation
Inflation continues rising despite monetary tightening and could trigger IMF consultation
ECB’s monetary policy is taking effect rapidly, says Lane
But chief economist warns tighter financing conditions could cause eurozone contraction
South Korea’s central bank holds rates steady again
Governor says board agreed restrictive policy should continue for a considerable time
Bank of Canada raises rates 25bp
Central bank now predicts inflation will return to its 2% target in mid-2025
Should the ECB disclose governing council members’ votes?
Some former officials argue it would reduce leaks and conflicting statements, while other stress the current system allows better policy debates
RBA to have fewer but longer monetary policy meetings
Central bank moves to overhaul governance after major review
BoE stress tests find banks resilient to interest rate risk
Credit impairments drive majority of losses, but all banks pass test
Carney to co-chair World Bank investment panel
“Investment Lab” tasked with overcoming barriers to investment, including in climate finance
RBNZ halts tightening cycle
Central bank says policy rate will need to remain at a “restrictive” level for some time