Reserves
Renminbi struggles to gain prominence on global stage – Swift
Chinese currency usage only accounted for 1.61% of domestic and cross-border payments in December 2017; digitisation may be the key to currency’s success
PBoC releases liquidity ahead of new year celebrations
RRR cut is expected to release liquidity to counter the seasonal tightening around Chinese new year
Morocco introduces a more flexible exchange rate
The central bank introduces a daily band of 5% for the dirham to trade against major currencies
Angola drops dollar for euro in new exchange rate regime
Kwanza depreciates 11.5% against the dollar following regime change
SNB expects record profits for 2017
Swiss central bank benefits from high asset prices and a weaker franc
Balancing reserves’ effectiveness and transparency
Why do countries accumulate more and more reserves if they know intervention may prove ineffective? Iris Yeung speaks to Canada’s Eric Wolfe
Angola looks to abandon currency peg
Crippled by low commodity prices, Angola’s kwanza will be allowed to float within a range, governor says
Cambodia shortens duration of liquid reserves ahead of election – reserves chief
De-dollarisation and lack of interbank market make forex intervention the only real policy tool left for National Bank of Cambodia
Qatar Central Bank launches legal probe into manipulation
Central bank appoints law firm, as governor accuses blockading countries of manipulating the riyal and local markets
GFXC publishes final word on last look
The Global Foreign Exchange Committee releases the new and final version of Principle 17, and adds two examples to illustrate best practice
Rupee drops as SBP tackles reserves decline
Pakistani rupee down nearly 4% after central bank triggers “market-driven adjustment”
ECB and 14 European central banks commit to forex code of conduct
Bank of England and rest of the European Union central banks set to follow suit in early 2018
Cocos lower banks’ funding costs – BIS paper
Mechanical triggers and equity conversion strengthen cocos’ impact, paper finds
UK Royal Mint to use blockchain to track gold trades
System will track ownership of gold traded on new platform without the need of a central database; new system will charge small transaction fees but abolish storage fees
Central Bank of Barbados governor ‘concerned’ about level of reserves
Barbados central bank tweaks securities requirement ratio amid foreign exchange shortage; less than 10 weeks of import coverage remain
SNB profits hit record high
Swiss franc’s depreciation and high stock prices fuel the rise in revenues in the first three quarters
The optimal size for central bank balance sheets
As the Fed seeks to reduce the assets on its balance sheets, Charles Goodhart examines the role between monetary and fiscal policy, central bank and debt office, and the optimal size of a central bank’s balance sheet
Xi sees renminbi taking greater role in global monetary system
President Xi Jinping calls for quality and equality of growth rather than speed; flags plans to promote renminbi as global reserve currency
Bahamian central bank proposes law change to cap government debt holdings
New legal framework for Bahamas central bank would enforce “comprehensive” limits on government debt; holdings of long-term government debt stand at 12.52%
Ethiopia launches ‘first of its kind’ swap agreement with Sudan
Central banks to swap $16 million under new agreement designed to strengthen financial co-operation and ease Ethiopia’s foreign exchange pressures