Central Banks
PBoC plays down surge in factory-gate prices
PPI and CPI in July both higher than expected, but central bank says pressure is “controllable”
Limited adoption of ISO 20022 messaging in RTGS systems
Around a fifth of central banks said they use the emerging payments messaging technology
An assessment of the ECB’s strategy review
A number of aspects of the new framework raise challenges for implementation and credibility, while the inclusion of climate change may politicise the institution, writes euro architect Otmar Issing
Russian central bank may sell nationalised lender to ‘strategic investor’
Bank of Russia says it could bring sale of Otkritie forward if right buyer can be found
BIS paper highlights ‘ripple effect’ of monetary policy
Balance sheets of upstream and downstream firms “salient, yet mostly overlooked”, authors say
CPMI aims to ‘shape the future of payments’
Committee publishes work programme for first time, focusing on innovation and risks in FMIs
Ecuador central bank doubles BIS credit line
Central bank to treat funds as precautionary to deal with a future downturn
People: Georgia names new vice-governor
IMF appoints director of HR; Kuwaiti emir makes delayed board appointments; Indonesia shuffles regional reps
Bank Indonesia bolsters FX settlement with Japan and Malaysia
BI continues to promote local currencies in a bid to “reduce dependence on the US dollar”
Half of central banks surveyed experienced RTGS outages last year
Most reported operating one contingency site
Police search Paraguay central bank
“Fifa-gate” investigations into embezzlement lead special AML unit to execute warrant
Myanmar central bank restricts foreign hires
Move comes after months of unrest and shortly after military announced 2023 polls
RBI promises policy support ‘as long as necessary’ despite inflation surge
Inflation breaches tolerance band but governor says economy now “in a much better position”
Bank of Mexico increases monetary policy transparency
Central bank to start disclosing individual votes of board members after policy meetings
The renminbi in focus: reserve managers see promise
Reserve managers see potential in the renminbi and expect the International Monetary Fund to increase its weighting at the next special drawing rights reassessment
The distant cry of hawks? Fed begins tightening talk
Richard Clarida gives a date for hiking interest rates, as debate on taper timing continues
Central banks split on non-bank access to RTGS systems
Benefits of innovation must be weighed against risks of financial instability
CNB continues tightening cycle with 25bp hike
Board opts for additional hike as forecasts point to short-term inflation surge
Brazil accelerates tightening cycle with 100bp rate hike
Central bank takes key policy rate to 5.25%, as inflation increased by 8.4% in June
Iran’s Hemmati warns against monetary financing
Former governor mounts criticism of departing President Rouhani
BoE on hold as inflation looks set to soar to 4%
Committee hints at need for “modest tightening” soon, but says asset purchase programme will not unwind until interest rates reach 0.5%
The renminbi’s inclusion in the SDR adds impetus to its internationalisation
Bank of China (Hong Kong) highlights the importance of opening up the onshore renminbi (RMB) foreign exchange market and improving the development of offshore RMB FX markets
Armenia and Georgia raise policy rates
Caucasus states follow Russia in anti-inflationary moves