Equities
Bank of Japan steps up bond purchases
Central bank faces pressure to raise rates as yields on 10-year government bonds rise
PEPP to become ECB’s weapon of choice
Facing high but falling inflation, the governing council is expected to hold rates
Over 15% of reserve managers plan diversification changes
Close to 14% of participants will increase diversification, while 17.2% are discussing changes
Fewer central banks added new reserve assets in 2023
Overall, 10.3% of institutions diversified their asset allocation, down from 18.6% last year
Reserve managers vote BlackRock as overall best asset manager
Goldman Sachs and “other” asset management firms also score highly
Carney derides UK ex-PM’s economic policy
Former BoE governor says cutting taxation does not automatically lead to growth
Book notes: Bold vision, by Freddy Orchard
Largely uncritical insights about the formation of the GIC and Singapore’s currency regime
Financial regulators: one, two, maybe a few?
As Jamaica moves to introduce the ‘twin peaks’ approach to financial oversight, Ben Margulies assesses some of the pros and cons
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
US regulators fine firms $549 million for using messaging apps
Feds say brokers violated recordkeeping laws by using WhatsApp and similar services
Stefan Ingves on central bank failings on inflation and financial stability
The Riksbank veteran speaks about liquidity, interest rate and non-bank regulatory reforms, the importance of saying ‘no’, and the need for explicit legal definitions for digital money
Equities look set to stay in FX reserves portfolios
Despite 2022 losses and higher bond yields, central banks maintain commitments to the risky asset class
Argentina increases use of Chinese currency
Authorities repay IMF in renminbi, and allow it for local current and savings accounts
Hong Kong launches HKD-RMB dual trading counters
Offshore investors now have the option to trade 24 RMB-denominated stocks in Hong Kong
Japan’s finance minister mulls purchase of BoJ’s ETF holdings
Analysts believe asset purchase programme is to stay for the time being
Strategic investment yields bigger impact than tactical, say managers
Central Banking Summer Meetings: Active investment is essential to understand market dynamics
Trends in reserve management 2023: survey results
Insights on inflation, asset diversification, geopolitical risk, risk management frameworks and ESG adoption
The allure of private markets
SWFs have piled into the asset class while reserve managers remain wary, writes Blake Evans-Pritchard
Fed inspector says FOMC should look at extending trading rules
Internal watchdog also finds shortcomings in enforcement and review
Climate change and the role for central banks
Gavin Bingham, Andrew Large and Paul Fisher explain how climate change affects central banks and the competing tensions it raises in relation to policy responses
Higher inflation and rates will not reverse asset diversification
Most reserve managers expect diversification will continue, whether unchanged, accelerated or at a slower pace
‘Back to the future’ for FX reserve management
Rise in bond yields changes the dynamics of ‘security, liquidity and return’, writes Gary Smith
Currency round-up: De La Rue issues profit warning
Central African central bank to release new coins; and more
Chicago Fed used search firm that employed Goolsbee’s wife
Board says it was aware of Robin Goolsbee’s employment