BERLIN—The new German government has chosen an experienced central banker and former board member of Germany’s state-owned development bank to head the country’s central bank, the finance minister said Monday. Joachim Nagel will succeed Jens Weidmann, who announced in October that he would step down at the end of the year after a decade as…
German Government Chooses Joachim Nagel to Head Central Bank
December 20, 2021
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Stocks Wobble as Wall Street Focuses on Central Banks
December 16, 2021
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Stocks wobbled in morning trading on Wall Street Thursday as investors study moves by central banks to fight rising inflation. The S&P 500 rose 0.1 percent as of 10:20 a.m. Eastern and is hovering around the record high it reached last Friday. The Dow Jones Industrial Average rose 178 points, or 0.5 percent, to 36,102…
Stocks on Firm Ground as Markets Brace for Central Bank Loaded Week
December 13, 2021
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LONDON—World stocks, oil prices, and the dollar firmed on Monday as a generally upbeat mood took hold of world markets ahead of a host of central bank meetings this week that includes the U.S. Federal Reserve. Equity markets across Europe opened higher, with the pan-region STOXX 600 index last up 0.35 percent, while U.S. equity…
Fed’s Quarles Says He Doesn’t See Rationale for Central Bank Digital Currency
October 21, 2021
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Federal Reserve Governor Randal Quarles, until recently the U.S. central bank’s top financial regulator, on Wednesday said he does not understand the arguments in favor of issuing a central bank digital currency. “Until somebody answers me the question why, I don’t understand why we would devote the enormous amount of resources and the technological risk…
Canada’s Inflation Rate Hits 18-Year High, Puts Focus on Central Bank Rate Policy
OTTAWA—Canada’s annual inflation rate accelerated to an 18-year-high in September, driven by high gas prices, soaring housing costs, and rising food prices, data showed on Wednesday, putting the focus on the Bank of Canada ahead of a rate decision next week. Inflation increased to 4.4 percent, beating the average analyst estimate of 4.3 percent, to…
Analysis: Central Banks and Governments in Eastern Europe at Odds Amid Inflation
BUDAPEST—A surge in price growth in eastern Europe has opened a rift between central banks that have launched rate hikes to battle inflation and populist governments trying to defend a strong economic recovery. The standoff is most apparent in Hungary and the Czech Republic, where national elections have complicated the task of central banks, which…
Money Markets Ramp Up Global Rate Hike Bets, Add Pressure on Central Banks
October 12, 2021
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LONDON—As inflationary pressures mount worldwide, money markets are charging ahead with pricing aggressive interest rate rises, in most cases betting that policy will be tightened far sooner and at a much faster pace than rate-setters are signalling. Energy prices at multi-year highs and relentless supply chain snarls have raised fears of a future inflation spike,…
Czech Central Bank Delivers Biggest Rate Hike in 24 Years to Battle Inflation Spike
PRAGUE—The Czech National Bank (CNB) raised its main rate by 75 basis points on Thursday, surprising markets with its biggest hike since 1997 and sending a signal it would not allow inflationary expectations to grow further amid a price spike. The Czech economy, like others around the world, is facing rising costs as it grapples…
Central Bank Digital Currencies Can Slash Cross Border Payment Time: BIS
September 28, 2021
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HONG KONG—Central bank digital currencies (CBDCs) can slash the time needed for cross border payments to seconds from days and cut costs, the Bank of International Settlements (BIS) said, citing a pilot scheme to test the digital forms of fiat currencies. The trial showed cross border transactions could be made in a few seconds, instead…
Central Bank Group BIS Warns of Green Asset Bubble Risk
LONDON—The central bank to the world’s central banks, the Bank for International Settlements, has warned of the growing risk of a price bubble in environmental-focused asset markets. Some estimates indicate Environmental, Social, and Governance (ESG)-focused assets have soared to a value of $35 trillion and now account for more than a third of all assets…
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