Central Banks
FSB-IMF report calls for action on external debt
Study finds authorities were able to manage the Covid crisis but have not fixed underlying problems
São Tomé president rejects firing of governor
Prime minister moved to replace Américo Barros after governor contested party leadership
Mexico’s Rodríguez says CBDC project will take another year
New estimate would have the Bank of Mexico’s digital currency arriving in 2025
Kazakhstan raises policy rate by 50 basis points
Inflation hit 12% in March and expectations are “not anchored”
Most central banks are bilingual communicators
Only a handful communicate in three languages, but it is common to translate at least some documents
The international effort to manage NBFI risks: where do we stand?
The Covid-19 shock demonstrated more needs to be done to address stability risks posed by the NBFI sector. Maurizio Trapanese details progress made during the Italian G20 presidency as well as outstanding macro-prudential issues
Reserve managers cut duration as inflation surges
Central banks with bigger portfolios tended to combine this measure with changes in currency and asset allocation, Central Banking survey finds
Turkish central bank tightens reserve regime for lenders
Central bank will also penalise lenders with high levels of foreign-denominated accounts
BoE paper finds benefits from swing pricing
Cost-benefit analysis suggests net benefit to curbing non-bank liquidity risk through swing pricing
Lagarde sees risks in ‘new global map of economic relations’
ECB president says fragmentation through “friend-shoring” and regionalisation is rising
Paraguay raises interest rates by 50bp
Central bank makes ninth hike in a row as inflation reaches double digits
Media relations is biggest job for comms teams
But website, social media and internal comms also account for significant portions of time
Andrew Bailey acknowledges risk of ‘over-tightening’
Senior economists discuss how to avoid stagflation during a fragile moment for the global economy
RBI extends Sri Lanka swap line
Island nation defaulted amid debt, currency and balance of payment crises
New Zealand’s inflation hits 30-year high
Labour shortages also affecting many businesses
People: Chicago Fed’s Evans to retire
Bulgarian parliament rejects governor pick; political heat on Cook still high as vote nears; and more
PBoC focusing on grain and energy to stem inflation
Price stability in grain production and energy supply key to growth, says governor
UK faces possible inflation ‘ratchet’ – BoE’s Mann
MPC member says shocks to UK economy have “piled on top of each other”
Stablecoins revive US narrow banking debate
Legislators suggest simplified bank rules to regulate issuers, but Federal Reserve is cautious
Climate change, invasion, recession: policy-makers flag mounting risks
Christine Lagarde and Jerome Powell discuss “ripple effects” of war in Ukraine, while the Barbadian prime minister highlights need for reform at global institutions
NBU plots path out of war economy
Ukrainian central bank turns to monetary financing as government struggles to pay for war