Central Banks
Sri Lankan governor resigns amid massive economic crisis
Finance minister also quits as crowds demonstrate against power cuts and food price rises
Swiss inflation rises above target
Oil prices contribute to inflation that is now above the SNB’s forecasts
São Tomé governor replaced
Central bank chief had challenged prime minister for party leadership
Governors are rarely dismissed early
Most jurisdictions have the power to dismiss central bank governors, but rarely use it
UK authorities investigating LME over nickel trading suspension
Regulators to probe governance at the metals exchange after “disorderly” conditions halted trading
Malawi central bank fund in crossfire of allegations
Audit finds a loss of over $15 million, but some staff claim directors ordered bogus inquiry
Fractures in the monetary system
Seizure of Bank of Russia assets likely to have long-term implications for international system
Saudi Arabia deposits $5 billion in Egypt’s central bank
Egypt agrees investment from Qatar and UAE, and seeks funding from IMF as wheat prices rise
Eurozone inflation reaches record high of 7.5%
Observers think ECB is increasingly likely to accelerate plans to tighten monetary policy
BoE’s Cleland calls for innovation in wholesale payments
Wholesale payments suffer from inefficiencies despite being critical to financial stability, official says
Mauritania finance minister becomes new governor
Dhehbi succeeds Moulaye Taher, as ex-governor joins new cabinet
Central banks usually transfer profits to governments
But many central bank respondents did not share profits in the last financial year
Reserve managers weigh risks amid Ukraine crisis
Greater investment in commodity and energy-linked assets could be wise, some experts say
US Senate to vote on Cook’s Fed governor nomination
Republicans continue opposition to Biden’s nominee but Democrats force full vote
Minority of central banks worry over independence
Most central banks say law protects them, but some say changes are needed
BoE’s Broadbent highlights perils of forward guidance
Deputy governor warns conditional guidance is often viewed as a promise to act in a certain way
Rates round-up: Chile accelerates tightening
Plus Central African states, Jamaica and Georgia all order 50bp rises
Abu Dhabi wealth fund to “pause” Russia investments
Mubadala CEO calls Ukraine war “a travesty”, but fund has small Russia exposure
European authorities freeze Lebanese governor’s assets
Riad Salameh one of “five main suspects” subject to €120 million asset seizures, say prosecutors