Central Banks
Bank of Russia caps FX withdrawals and EU sanctions Belarus
Russian depositors can withdraw unlimited rubles but only up to $10,000 in foreign currency
Bank of Mauritius makes first rate hike in over 10 years
Inflation risk prompts policy-makers to begin gradual tightening cycle
Reciprocity can curb macro-prudential ‘leakages’ – BIS paper
But gains can be small, which may explain limited use of reciprocity to date, authors say
Sudan floats currency
Decision follows adoption of single unified exchange rate
Digital money and central banks
Central banks must reflect on the monetary policy, regulatory and financial stability implications from crypto assets, stablecoins and CBDCs to stay relevant in the digital age of money
Ukraine allows unlimited cash withdrawals for threatened regions
Bank of Russia halts publication of regulatory data and announces more emergency measures
Bank of Israel reserves decline on falling equities
Total reserves decline from $208.7 billion in January to $207.1 billion at the end of February
Polish central bank hikes main rate as it battles zloty weakness
Currency has fallen sharply since Russia’s invasion of Ukraine, adding to fears over high inflation
IMF urges Peru to tighten monetary policy
Fund also says FX intervention may be needed short term
State Bank of Pakistan launches simplified digital account
Central bank governor says Asaan Digital Account should boost women’s participation in finance
‘Financial concerns’ impact consumption – BoE paper
Households with financial worries have a higher marginal propensity to consume, survey shows
Sri Lankan central bank raises rates and clashes with power company
Energy chairman says “power crisis” has been caused by unwise use of foreign exchange
Central banks can lean against fiscal dominance – BoC paper
Authors find monetary policy works better when conditional on fiscal policy
Visa, Mastercard and Amex suspend Russia operations
Bank of Russia says domestic payments will still be possible across its own systems
SNB profits rise to $28.5 billion
Central bank reaffirms pledge to halt appreciation of the franc
People: Chile appoints new central bank director
BoJ set to gain new policy board members; RBA names new head of banking; and more
Economists warn Latin America faces another lost decade
Continent is “halfway to a lost decade already”, says World Bank’s Carmen Reinhart
Bank of Russia pauses repo transactions
Central bank increases forex surcharge amid signs of strains on banking liquidity
The ECCB’s DCash outage: what went wrong?
Experts discuss security certificate problems that may have derailed DCash pilot