Central Banks
PBoC launches renminbi reserve pool with BIS
Equivalent of $13.5 billion will be pooled by six central banks to withstand market volatility
(Un)stablecoins and central banks
Time to tackle stablecoin structures and support mechanisms
Covid impacting monetary policy most in middle income countries
Most central banks report shifting stance at the height of pandemic, but some have since reverted
BIS says central banks must act ‘decisively’ on inflation
Tightening policy hard and fast may be central banks’ best shot at engineering a soft landing
BIS balance sheet buffeted by market turbulence
Institution still turned a profit in the year to March 2022
IMF paper proposes ‘policy space index’
Authors try to quantify countries’ room to respond to a “black swan” event
Former RBNZ official questions board pick
Central bank and Treasury deny former NZ Post chair has disqualifying conflict of interest
Fed finds major banks able to withstand ‘severe recession’
All banks pass stress test despite tougher scenario than in 2021
BSP raises rates by 25bp, while Indonesia holds
Economist warns Philippine central bank’s action may not be enough to bring inflation down
Bank of Mexico orders largest-ever rate hike
Mexico matches Fed as inflation continues well above target
Japan and Soramitsu to conduct Asia-Pacific CBDC studies
Observers note de-dollarisation and spread of e-yuan as potential motivations
US senator attacks regional Fed over fintech firm’s payments access
Kansas City Fed president Esther George refuses to release correspondence about terminating account
Bolivian central bank wants to become sole buyer of gold
Proposal would allow BCB to use gold reserves as collateral or swap them for foreign exchange
Thai MPC split over rate hikes, minutes show
Minority of committee members voted for policy rate rise at last meeting
Trinidad and Tobago court rules governor’s dismissal illegal
Rambarran receives damages over 2015 firing but replacement will continue in office
People: RBA and Norges Bank appoint deputy governors
Timothy Lane retires from Bank of Canada; BIS appoints deputy banking chief
BoJ board members concerned over yen’s volatility
Rate-setters differ over implications of currency depreciation, minutes show
Payments Benchmarks 2022 report – on the shores of a digital future
Benchmarking data offer insights on mandates, staffing structure, oversight of payment services, RTGS design and management, and CBDC development
Chaos around Lebanese central bank grows
Audit due to recommence but judge says governor cannot be found by police, reports say
Paraguay continues rate hikes despite economic contraction
Central bank raises policy rate for 11th month in a row, as GDP growth falls
Iceland meets high inflation with second 100bp hike
MPC forecasts more increases as Nordic country confronts internal and external pressures
RBI deputy sees ‘miles to go’ despite progress on bank reforms
Asset quality of Indian banks has been improving, says Rajeshwar Rao
Exit from bond yield target was ‘disorderly’, admits RBA
Central bank says it is unlikely to use yield curve targeting again