Central Banks
Romanian and Zimbabwean central banks raise rates
Zimbabwean figures say inflation has reached 72% but observers say this may be an underestimate
Few central banks report funding problems
Only 10% of central banks say they lack adequate resources
Book notes: Cogs and monsters, by Diane Coyle
Coyle brings much-needed nuance to the debate over the shortcomings of economics
Carstens: world may be on ‘cusp of a new inflationary era’
BIS chief warns new inflationary forces “have emerged with a vengeance”
Sri Lankan president appoints governor criticised over ‘bond scam’
New governor was accused of negligence by judicial inquiry over conduct in financial wrongdoing
Presidential ally obtained funds from Zimbabwe central bank
RBZ exchanged Treasury bills at inflated rate as part of giveaway, investigation finds
Brazilian central bank strike escalates
Staff now out indefinitely, interfering with Pix and economic statistics
Dallas Fed research says housing bubbles are ‘brewing’
Housing price expectations may have unanchored from fundamentals, paper finds
Median bank has had four governors in past 20 years
Governor turnover probably does not reflect independence
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