Central Banks
Malawi devalues currency amid FX crisis
Reports say central bank has devalued kwacha by 25% as country’s exports slump
Finland’s payments must be ready for emergencies, governor says
Rehn praises public-private emergency partnership but calls for “even higher level” of readiness
‘Unconventional credit policy’ can help avoid lower bound – BIS paper
Liquidity injections can be useful tools but also face limits, authors find
Guatemala orders first rate rise in nine years
Board cites concerns about expectations but inflation remains within target range
Bank of Russia cuts rates again
Central bank says inflationary pressures are falling but economy faces considerable constraints
Philippines president-elect plans to move governor to finance ministry
Marcos nominates board member Felipe Medalla as next governor
Real house price growth slowing slightly, BIS says
Advanced economies still seeing price increases that are close to historic highs
Esther George to step down as Kansas City Fed president
George will retire in January on reaching retirement age, after 11-year tenure
Bank of Korea raises policy rate again
Policy-makers expect high inflation for rest of year
Book notes: The future of money, by Eswar S Prasad
Prasad’s book is the best on the topic so far, providing the most complete description of issues and factors that will shape the future of money
Paper explains why ‘Fed put’ is not as reliable as investors might like
Disagreement between Fed and market can create perception central bank is “behind the curve”
Digital yuan being tested at Chinese high school
“Smart ID card” allows students to make purchases – and parents to track them
IMF calls for action on fragmenting global economy
Senior officials say world is facing “confluence of calamities” and leaders have been complacent
People: former New York Fed chief Corrigan dies
New deputy governor appointed in Honduras; Bundesbank names head of research; and more
War in Ukraine raising eurozone stability risks, says ECB
Non-bank sector vulnerable to higher interest rates, financial stability review finds
RBNZ tightening policy ‘by more and sooner’
Central bank orders second 50bp hike, the fifth increase since last October
ECB paper examines eurozone bond financing
Researchers present “first comprehensive study” of rise in bond financing over last 20 years
Rates round-up: Israel surprises with larger hike
Central banks in Pakistan, Nigeria, Ghana, Paraguay and Jamaica also tighten policy
Sri Lankan court hears corruption allegations against ex-governor
Cabraal denies all accusations as court bans him from leaving country
RBA’s approach to QT does not involve selling bonds
Selling assets could undermine future quantitative easing programmes, says assistant governor
BoE climate stress test finds impact will fall on bank customers
Sam Woods questions whether capital is “best tool” to address climate change
Algerian president replaces central bank governor
Saleh Eddine Taleb becomes sixth head of Bank of Algeria in as many years