Open-market operations
Interpreting the PBoC’s slew of policy reforms
An insight into new stimulus measures, bond market tactics, deflationary pressures and framework changes
PBoC to start borrowing government bonds as yields fall
Analysts expect central bank to sell in secondary market to stabilise yields
How to cut the interest cost of bank reserves – and how not to do it
William Allen says setting required reserves is not a straightforward decision for the Bank of England
Chinese policy-makers warm to PBoC bond trading
PBoC’s trading of government bonds will be different from QE, central bank official says
Sri Lanka considers move to single policy rate
CBSL plans overhaul of monetary operations and improved liquidity forecasting
Richard Byles on Jamaica’s inflation-targeting baptism of fire
The Bank of Jamaica governor speaks with Christopher Jeffery about forex interventions, setting up digital disruptor banks and the next steps for Jam-dex
Cambodia’s Serey calls for greater use of local currency
Governor says demand for the riel has improved over the years
Corridor, floor, other: are operating frameworks fit for the future?
Central banks are becoming uncomfortably aware that monetary operations have ramifications well beyond setting short-term rates
Claudio Borio on financial cycles, operating frameworks and non-bank reform
The BIS veteran highlights a ‘unique constellation’ of challenges as central banks travel the ‘last mile’ in bringing down inflation – and says there are many more miles to go on non-bank reform
People: New York Fed appoints new Soma manager
Fed names new FOMC secretary; ECB IT head is leaving; new COO at Irish central bank
Corridor system used by most central banks to set rates
But methods vary widely depending on policy target and tools such as quantitative easing
Monetary policy and ops divisions mostly segmented
Nine in 10 institutions separate units in the Americas, Asia and Europe
Botswana hikes newly introduced policy rate
Central bank announces first rate increase since 2008 as inflation stays in double digits
Technology services: SAP
The software company pulled off a high-stakes ‘big-bang’ launch of a new core banking system for the Saudi Central Bank
Yen drops as BoJ defends yield curve target
Bond operations send Japanese currency to seven-year low against the dollar
RBA preparing changes to open market operations
Assistant governor says reforms needed as liquidity and monetary policy evolves
Effective market operations in a modern central bank
Oliver Wyman’s Paul Fisher and Oliver Wünsch explain how central banks can successfully organise and manage their market operations departments with a public sector workforce, and when their objectives are not dictated by financial returns.
BoE report sheds light on Covid market operations
Surge in scale and frequency of operations amid switch to work from home created “issues”
RBA cancels market operations due to outage
Issue at third-party provider impacted central bank and several commercial banks
NY Fed updates Treasuries purchasing programme
New York Fed changes maturity ranges and sector weights of bond purchases
Fed may make Fima permanent – SF president Daly
SF Fed president says policy-makers also considering creation of domestic repurchase facility