Central Banks
Bank of Russia confirms new crypto regime
Law forms part of de-dollarisation and alternative payments push as Moscow seeks new ways to evade sanctions
Renewed Middle East hostilities prompt Nigeria to hold
Central bank keeps rates at 26.5%, despite moderating inflation
‘Tips clone’ developed by Bank of Italy goes live in Balkans
Bosnia and Herzegovina and Montenegro become first jurisdictions connected by payments system
Closer PBoC-CBL ties reflect China’s strategic aims, says expert
Central Bank of Libya to enter China’s payment system and bond market
Moody’s lifts Argentina’s credit rating
Agency says country’s default risk has declined amid fiscal surpluses and falling inflation
Institutionalising change: the challenge for Argentina
Martín Redrado sets out what is needed for a meaningful and resilient new ‘charter’ for the Central Bank of Argentina
Indonesia unexpectedly holds, thereby ending tightening spree
Economists see room for BI to keep rates at their current level as rupiah depreciation pressures ease
Argentina should borrow from international markets – Obstfeld
Economist calls for transition to floating exchange rate with inflation targeting
Hungary continues easing cycle with 25bp cut
Central bank says further rate cuts likely, despite inflationary impact of Iran war
FX controls have minimal impact on stablecoin dollarisation – study
BIS working paper argues that growing use of crypto assets presents policy challenges for EDMEs
Geopolitical risks cause eurozone banks to tighten credit
ECB’s quarterly survey shows lenders alert to continued instability resulting from Iran war
Tajikistan keeps inflation on target after lowering band
Central bank reports 4.1% price growth in H1, 50bp higher than in first half of last year
China leaves LPRs on hold for 14th consecutive month
Decision in keeping with ‘moderately loose’ policy stance repeatedly outlined by PBoC officials
Everything you always wanted to know about money (but were afraid to ask)
Rupal Patel and Jack Leslie, authors of ‘Money: the inside story’, speak about how central banks can improve their comms – and credibility – by tackling popular misconceptions about how finance works
MBS convexity hedging: back with a vengeance, or ghost story?
More bonds now sit with active hedgers but market is split on whether flows can move US rates again
Shocks greater when inflation already high – BoE study
Bank publishes latest response to Bernanke review of UK monetary policy-making
Software may contain bugs for private credit – BIS paper
Bulletin says disruption from AI could cause outage for lenders heavily invested in sector
Nigeria’s president signs order to enhance virtual asset regulation
Central bank to chair ‘virtual assets council’ to help close regulatory gaps
Banks are reallocating risk, not reducing it – NY Fed study
Under Basel III, banks’ parent companies have made NBFI subsidiaries more fragile, authors say
Jasmina Selimović on managing Europe’s last currency board
The Central Bank of Bosnia and Herzegovina governor speaks about building resilience to counter geoeconomic shocks, strengthening reforms amid EU convergence, addressing stablecoin and NBFI risks, Sepa integration, and capacity building.
Fed watchdog issues warning after Chinese espionage case
Inspector-general’s report comes after former board adviser jailed for more than three years
Nine out of 10 Japanese people see prices rising
BoJ survey shows around half of respondents expect economic slowdown in a year’s time
BoE’s scenarios are best way forward, say ex-MPC members
Former UK policy-makers say forecasting approach is suited to today’s highly uncertain times
Canada holds rates for sixth time as growth outlook improves
Governor’s remarks removed explicit reference to future cuts or hikes