Interest rates
Basel’s cherry-picking toughens IRRBB shock scenarios
European banks want higher outlier thresholds to offset higher confidence level in new standard
Governance and diversity at the Federal Reserve
Could changes in governance practices have contributed to poor performance in 2021–22? asks Jeffrey Lacker
Monetary policy transmission may have grown weaker – Dallas Fed
Research finds countries with slow and fast pass-through rates experience similar demand effects
European monetary transmission ‘weaker and slower’ – IMF paper
Latest tightening cycle weakened by market concentration and ample liquidity, authors find
Fed governor bolsters hopes for rate cuts in 2024
Strong state of US economy means there is no need to rush, argues Christopher Waller
Market ‘exuberance’ a problem for central banks – Gopinath
Easier financial conditions may be coming too early, IMF official says
Bank of Korea holds rates amid property market concerns
Governor Rhee Chang-yong warns cutting rates too soon could reignite inflation
Sri Lanka considers move to single policy rate
CBSL plans overhaul of monetary operations and improved liquidity forecasting
Dallas Fed chief backs slower balance sheet runoff
Lorie Logan says liquidity is no longer “super abundant”
Banknotes: October to December 2023
A round-up of news and salient issues that have affected central bankers in the past three months
Caucasus central banks cut rates as inflation falls
Armenia, Azerbaijan and Georgia continue gradual easing, with Armenian inflation at -0.5%
Chile cuts rates for fourth consecutive meeting
Board forecasts inflation will return to 3% target in 2024
Colombian central bank begins cutting rates
Board splits over decision, as inflation remains above 10% while economy slows
Argentina adopts new policy rate
BCRA will use overnight reverse repo rate after halting auctions of Leliq bonds
Riskiest non-banks shrink for first time since 2009
FSB says narrow measure of riskiest firms fell in 2022 as asset price falls hit investment funds
Montenegro appoints Radović as first woman governor
New governor takes office after former president failed to keep predecessor in role
Swedish inflation expectations remain anchored, research finds
Riksbank economists highlight central bank actions to tackle both low and high inflation
Mexico holds rates again, while Peru cuts
Peruvian board says inflation is falling faster, while Banxico predicts more gradual disinflation
ECB holds rates as it lowers inflation expectations
Central bank intends to stop reinvesting maturing assets under PEPP in second half of 2024
BoE holds rates for third straight meeting
“There is still a long way to go,” says Bailey
Norges Bank makes surprise rate hike as inflation rebounds
Governor warns economy is cooling but inflation has risen in past two months
Philippines and Hong Kong hold rates
BSP governor says monetary policy has to remain “sufficiently tight” to bring inflation back to target
SNB lowers inflation expectations as it keeps rates at 1.75%
Swiss central bank adopts a more dovish communication, analysts expect rate cuts early in 2024
Ghana’s Ernest Addison on the chain of events that led to a loss of $5 billion
The Bank of Ghana governor speaks with Christopher Jeffery about what necessitated monetary financing, the boundaries of ‘independence’ and the results of offline tests of the e-cedi