Central Banks
Currency round-up: Austrian leader calls for right to cash
US Mint continues quarters programme; Bangladesh adopts “clean note” policy; and more
Reports of cash restrictions in Niger
West African central bank froze relations and closed local offices after July 26 coup
Government employment has not recovered from pandemic – Fed
Low wages could be responsible from 450,000 missing state and local government workers in US
Bank of Ghana clarifies losses after Reuters report
Research director explains $5.4 billion loss for 2022 mainly due to debt restructuring
BoJ board member says sustained 2% inflation within reach
Firms may have become more willing to raise wages, some policy-makers noted in July meeting
Global growth is stalling: what must be done?
Jagjit Chadha says leaders are failing to make a serious attempt to tackle deepening global problems
When £1 is not £1
Gabriel Stein examines the risks from introducing a CBDC should its value diverge from that of physical currency and bank deposits
Bundesbank cuts remuneration of government deposits to 0%
Measure could further reduce availability of high-quality collateral in the eurozone
BoE enters new phase of data transformation project
Team is now developing options to address challenges identified in phase one
Fed rate hikes propel ‘crypto cycle’ – IMF paper
Monetary policy more correlated with institutional investment in tech than finance
Hedge funds may reduce liquidity in volatile periods – BoC research
By transacting abnormally in times of market stress, hedge funds can reduce liquidity
Brazil split decision not a problem for central bank credibility
Central bank voted 5–4 for larger-than-expected cut
New Zealand government boosts central bank capital
RBNZ granted capital boost and indemnity
Time to pay policy-makers based on their performance
The remuneration framework for central bankers needs reform amid failures to hit inflation targets, argues David Bholat
Taiwanese governor flags US sanctions risks
Yang says Taiwan should pay attention to the widening trade surplus with US
Pakistan launches sovereign wealth fund
Struggling country transfers $8 billion of shares in seven state companies to new SWF
Rates round-up: Ukraine cuts rate for first time since invasion
Thailand, Egypt and North Macedonia tighten policy; Georgia joins Ukraine in easing
BIS paper’s guide to monitoring ‘highly leveraged’ non-banks
Using new data sources can help to shed light on an opaque sector, authors say
IMF’s Selassie calls for ‘pragmatism’ on exchange rates
Official challenges idea that resisting depreciation is always the best policy
Book notes: The crisis of democratic capitalism, by Martin Wolf
A sincere attempt to explain and fix the failing of capitalism in liberal democracies