Central Banks
CBDCs could hugely improve cross-border payments – ECB’s Bindseil
“Holy grail” of secure, instant universal payments could be a reality in next 10 years, authors say
Cuban regime to buy foreign currency near market rates
Move cuts peso’s dollar exchange rate by four-fifths after Cubans protest over shortages
Brazil’s MPC hikes again, but signals possible end to tightening
After 50bp hike, BCB to assess “residual adjustment” to policy rate in September meeting
UK’s possible next prime minister promises BoE mandate change
Liz Truss says situation now “very different” to when central bank’s mandate was laid down in 1997
BoE accelerates tightening as inflation expected to hit 13%
“Enormous” external shocks to blame for large changes in forecasts, officials say
Taiwan governor says ‘no need to worry’ about capital outflows
Yang Chin-Long says Taiwan has sufficient foreign reserves to handle potential FX volatility
BIS report highlights challenge of modelling green reserve portfolios
Survey of central banks finds legal mandates and liquidity make green reserves management difficult
Banknotes round-up: Egypt debuts polymer note
Peru continues rollout of new series; Mexico to withdraw 20 peso note; and more
BoI reshuffles banking supervision department
Heads of division will switch positions in a bid to foster new thinking
Is the US heading for stagflation?
US academics weigh up the risks – and whether the Fed can avoid the worst outcomes
Madagascar raises rates 90bp
Central bank expects economy to grow but speaks of troubling global conditions
Armenia orders 25bp interest rate hike
High inflation prompts central bank to continue postwar tightening cycle
MAS to consult public on regulating stablecoins
Chairman says central bank will consider reserve requirements for stablecoin issuers
Central Bank of Oman warns of climate risks to financial stability
Physical and transition risks identified in the oil-exporting country
Blanchard and Summers clash with Fed over soft landing
Economists challenge Fed view that fall in vacancies can save US from mass unemployment
ECB paper examines unanchored inflation expectations
Public reacts more strongly to larger and downward inflation surprises, researcher finds
IMF stresses inflation risks may rise further
In such a case, central banks will need to be more resolute in securing price stability
RBA raises interest rate by another 50bp
Governor Philip Lowe says RBA aims to keep the economy on an even keel while bringing inflation back to target