Coronavirus
Pandemic is top stability concern for benchmark respondents
House prices, cyber crime and crypto assets are also major worries for central banks
Larry Summers on stagflation risks, lessons from Delphi and never-ending ‘punch’
The former US Treasury secretary speaks about fiscal ‘overexpansion’, Fed/Treasury debt discord, the pitfalls of ‘unknown unknowns’ and central bankers ‘unable’ to remove the ‘punchbowl’
Colombia raises policy rate for first time since 2016
Board forecasts inflation will be above target band for the rest of this year
Jamaican central bank makes first rate rise since 2019
Central bank forecasts inflation will be above target for two years as it hikes rate by 100bp
Bank of Mexico makes third consecutive rate raise
Board says inflation risks are tilted to upside and raises fourth-quarter inflation forecast
Elizabeth Warren publicly rejects Powell reappointment
Senator calls Jerome Powell “a dangerous man to head up the Fed”
Bailey puzzles over UK labour market signals
A lot of people are still out of the labour market, but unemployment remains low
Brainard cites Delta in dovish speech
Fed governor warns “employment is still a bit short of the mark” for taper
Dallas Fed president resigns, following Boston’s Rosengren
Both faced criticism for equities trading and holdings, but are not unique among Fed leaders
Boston Fed president resigns, citing health
Rosengren had been accused of conflicts of interest due to real estate holdings
Norges Bank becomes first in G10 to raise rates
Olsen forecasts further rise in December and report points to more hikes in 2022
Stress tests key for financial stability – Benchmarks participants
Most Benchmarks participants conduct stress tests more than once a year, but methods vary
Brazilian central bank raises rates and promises further hikes
MPC forecasts policy rate will rise by 200 bp and cautions government against expansion
BoJ holds rates as Japan waits for new prime minister
Central bank warns of possible financial problems from persistent Covid-19
Agustín Carstens on BIS strategic priorities, innovation and central bank policy
The BIS general manager speaks about policy trade-offs at critical time, tackling NBFIs and the dearth of ‘green’ assets, tech collaboration, and why he favours Biden’s $3.5trn infrastructure bill
Monetary Policy Benchmarks 2021 report – executive summary
Insights into the staff that work on monetary policy, decision-making, tools, transparency and market operations
Bundesbank paper looks at short sellers in the pandemic
Short sellers saw Covid-19 would strongly affect fiscally constrained countries - paper
NPLs down in nearly 70% of jurisdictions, despite Covid-19
Lower income nations hit harder than most during past five years; Asia, Africa and Americas NPLs on different trajectory to Europe
BIS’s Borio urges return to fiscal-monetary separation
Action was necessary in crisis but could lead to “instability trap”, official says
BIS paper explores Fed’s ‘whatever it takes’ moment
Covid facility had most of its impact without the Fed actually buying any bonds, authors find
Podcast: Diversifying portfolios post-Covid
BNP’s Johanna Lasker talks about why central banks should consider equities and Tips
Sustainability: a hallmark of cash
Tod Niedeck, corporate marketing director at Crane Currency makes the case for the sustainability benefits that are inherent in the production of paper banknotes, contrasting this with the environmental difficulties that face plastic banknotes at the end…
Monetary Policy Benchmarks 2021 report – seeking a strong anchor
Insights into the organisation and resourcing of monetary policy, decision-making, tools, transparency and market operations
Fed saved US from even larger pandemic downturn – ECB paper
Unemployment would have risen by 20% more without Fed’s bond buying, researchers find