Data
Goodhart, Gopinath and Lippi disagree on inflation
Central banks lack tools to deal with inflation, Goodhart warns, but IMF chief economist disagrees
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
IMF ethics committee investigating Georgieva allegations
Executive board promises “thorough, objective and timely review” of alleged “improprieties”
Monetary Policy Benchmarks 2021 report – executive summary
Insights into the staff that work on monetary policy, decision-making, tools, transparency and market operations
Cyber attacks rising, most benchmark institutions say
Financial sector hacking attacks rose in past two years
PBoC tells payment firms to cut ties to other business lines
Governor’s speech follows reported crackdown on China’s Ant Group
Most central banks cannot bring criminal charges against banks
But 87.5% of institutions report they can refer these charges to other public institutions
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
RBNZ served ‘compliance notice’ after cyber attack
Privacy commissioner concerned by possible “systemic weakness” in central bank’s cyber defences
Central banks split on blackout periods
Reasons for operating blackout periods include facilitating effective policy transmission and avoiding speculation
Press conferences tend to be held for every monetary policy decision
The events can be a valuable tool for policy transparency and clarity
In-depth reports less frequent than monetary policy meetings
Over 80% of central banks set monetary policy without always publishing in-depth reports
BoE permits cloud usage to support ISO 20022 migration
Cloud usage must be “controlled” and not risk wider payments ecosystem, BoE report says
Policy-maker votes largely kept secret
Most central banks do not reveal how individual monetary policy-makers vote
Brazil delays integrating payments into ‘open banking’ project
Phase three of project delayed to October after technical difficulties emerge
Some philosophical questions about the future of central banking
Kenneth Rogoff weighs up the many challenges facing central banks in the years ahead, from debt and inflation to negative rates and the dangers of ‘mission creep’
Swiss government sets parameters for climate reporting
Guidelines intended to bind large Swiss companies from the 2023 financial year
RBI launches financial inclusion index
Metric based on 97 indicators designed to assess access, usage and quality of financial services
Digital yuan project should rethink anonymity, paper urges
Scholars argue CBDC “wallets” ought to be under full control of retail users
Book notes: Fintech regulation in China, by Robin Hui Huang
The book includes meticulous exploration of detailed regulations across the Chinese fintech sector, but risks missing some of the bigger picture due to China’s on/off oversight
Central banks look set to upgrade RTGS systems in the next 12 months
Nine central banks said they are planning ISO 20022 adoption
Viruses of a different kind: bolstering central bank IT frameworks
Remote working on a large scale had never been done before, but central banks appear to have successfully adapted IT and cyber frameworks
OECD flags early signs of ‘moderating’ growth
Slowdown is widespread in advanced economies, but emerging markets see greater divergence
PBoC plays down surge in factory-gate prices
PPI and CPI in July both higher than expected, but central bank says pressure is “controllable”