Central Banks
Majority of central banks have emergency cash inventory
But few respondents say they have alternative strategies in place
Lebanese central bank urged to allow more cash withdrawals
Depositors unable to draw on savings as Israeli incursion with Israel continues
US public disagrees about Fed’s political leanings
Republicans think Fed favours Democrats, and vice versa
IMF tracks sharp rise in deposit accounts in emerging economies
Latest survey highlights inclusion trends in bank accounts, card usage and digital services
Vix spike in August not driven by actual volatility – BIS
Latest bulletin explains how widening bid-ask spreads drove up the index
Half of central banks recycle banknotes as sustainability measure
Most currency operations lack climate strategy, but a few plan to launch one
BoJ holds policy rate
Central bank highlights need to monitor US economic developments and domestic data
Combining central banking orthodoxy with innovation
Sergiy Nikolaychuk argues the future of central banking centres on adaptability as well as independence
Savings dampen monetary policy effectiveness – Fed paper
Central banks should track excess saving at a high frequency, authors recommend
Policy tightening reduces labour productivity and presence – paper
Lower participation and labour supply have inflationary effects, Bank of Canada authors find
SNB to launch new banknote series
Bank to “pay homage to the country’s unique topography” on new bills
Thai government and BoT agree to keep inflation target intact
Central bank and government reach price goal consensus despite a year of tensions
ECB paper finds asymmetric spillover from US monetary policy
Tightening episodes affect emerging markets more than expansionary episodes do, say researchers
Minority of central banks keep whole cash cycle in-house
Banknote printing remains central banks’ most outsourced function
ECB reviewing QE but 2% target ‘not up for debate’ – de Guindos
Completing banking union should be the “number one priority” for EU economic policy, says official
Three plans for digital payments: India, UK, and BIS
Das, Bailey, and Carstens discuss complementary tech, commercial bank innovation, and common platforms
‘No compelling case’ for a Eurosystem dot-plot – Nagel
Bundesbank president says uncertainty needs to be communicated more clearly
Armenia cuts interest rate to 7.25%
Economic activity softens in third quarter
PBoC and HKMA to link up instant payment systems
Trial in 2025 will allow residents to make cross-border small-value transactions
Currency staff make up 8% of central bank workforce
Institutions with own printworks have larger currency departments
The long and short of it: from ‘new normal’ to ‘old ordinary’
Arnab Das, global economic counsellor and macro strategist at Invesco, draws on macro history to try to put the present in perspective and navigate the future. This thought leadership commentary draws on policymaker and reserve manager discussions…
SNB researchers develop ‘more precise’ LLM-based risk predictor
New model allows for “more nuanced understanding” of types of uncertainty, researchers say