Central Banks
Stiglitz offers alternatives to standard theories of economic fluctuations
Nobel prize winner argues that endogenously driven variations are key to understanding economies
BIS highlights market ‘uneasiness’ over bond issuance
Claudio Borio says fiscal outlook worldwide is “acutely worrying”
Phillips curve is convex in short term – NBER paper
Data on US and UK shows firms respond more to positive than negative demand shocks
ADB approves $500 million loan to Indonesia
Policy-based facility focuses on expanding vulnerable groups’ access to financial services
Bulgaria ‘ready for euro’ in January – central bank governor
Radev says decision to join currency is now in hands of politicians
FSB urges non-banks to improve liquidity risk management
Report lists eight recommendations on how funds can answer margin and collateral calls
US inflation expectations tick up across all time horizons
NY Fed survey finds more respondents expect prices to rise over one- three- and five-year timeframes
Trump says Powell would resign as Fed chair ‘if I told him to’
President-elect also claims tariffs would make US rich but cannot guarantee that prices will not rise
South Sudan’s president fires central bank governor
Garang replaced by Johnny Ohisa Damian, who previously held position before his own dismissal in 2023
Reserve Bank of Australia holds policy rate again
Central bank softens hawkish stance amid weak economic growth and slowing inflation
China shifts to ‘moderately loose’ monetary policy stance
Officials also vow to pursue “more proactive” fiscal stance next year
BoE’s non-bank liquidity facility to open for applications in 2025
Other central banks have shown “lots of interest”, says deputy governor
Central Bank of Ireland defends Israeli ‘war bond’ approval
Critics say bank is complicit in funding genocide, but governor says it is bound by law
India appoints Malhotra as central bank governor
Government chooses not to renew Das’s term for another three years
CNB to set up new research and statistics department
Central bank says restructuring will boost its ability to “analyse and model economic trends”
BoE reveals details of ‘repo-led’ operations
Bank to offer more liquidity via longer-term facility but retain “variable price, variable size” format
China’s inflation drops to five-month low, despite stimulus
Some analysts expect PBoC to deliver further cuts in rates and RRRs by end of 2025
Syria’s central bank says citizens’ deposits will be safe
Announcement comes after footage appeared to show looting of cash from bank’s premises
Reserve Bank of India holds policy rate
Governor says decision reflected need to tackle high inflation without stymying “resilient” growth
Bank of Uganda says it was target of $15 million fraud
Central bank says $8.2 million now recovered, but denies staff were involved or that its IT systems were hacked
Italian lenders do not under-report default risks – central bank
Commercial lenders’ internal rating-based systems “less conservative” than central bank’s
Fed’s latest Beige Book reports modest growth across US
Boston was only branch to report decreased activity since October
Inheritance tax avoidance has fiscal impact – Bank of Spain study
Paper says loopholes led to effective reduction in tax rate of 1.3 percentage points in Catalonia
HKMA subsidises tokenised bond issuances
Issuers can receive up to HK$2.5 million each for maximum of two issuances