Central Banks
Australia’s central bank to review banknote distribution model
Decline in transactional cash usage has led to excess capacity
Most currency departments operated remote working models during pandemic
Many central banks employed a split team structure to ensure critical functions were maintained
BCB independence and Brazil’s inflation battle
Formal autonomy should help shield central bank from political pressure linked to 2022 elections, but challenges remain
Sri Lankan central bank takes emergency measures as FX crisis deepens
Central bank will securitise remittances to fund reserves, but statement hints at steep fall in inflows
Advanced economies more likely to outsource counterfeit detection
Emerging market economies more likely to outsource distribution
Riksbank opens review of board members’ stock holdings
Investigation will assess whether officials violated “rules of conduct”
Furlough uncertainty delayed BoE rate hike – Bailey
Roughly a million people were still using the job protection scheme when it ended, governor says
BIS statistics: OTC derivatives market value back to 2019 levels
Gross market values have fallen about a fifth since second half of 2020
Peru central bank raises rates again
Fourth hike since August “does not necessarily imply a cycle of successive increases”
Uruguayan central bank orders third consecutive rate hike
Central bank expresses concern over salary rises and regional uncertainty
Fed and ECB officials point to different policy directions
US officials see a rate hike in 2022 as increasingly likely, while eurozone governors rule that out
UK and China renew bilateral swap line
350 billion yuan swap line extended for a further five years
Bank of Mexico proceeds with gradual tightening process
Central bank increases interest rate by 25 basis points to 5% on higher inflation
‘Bullwhip effects’ worsening supply problems – BIS bulletin
Direct inflationary impact likely to be limited, but “sustained pressures” are possible, economists say
Asean publishes first green taxonomy for financial instruments
“Multi-tier” taxonomy aims to create realistic goals for both rich and middle-income nations
People: Georgieva nominates new IMF deputy managing director
BoE’s PRA names new executive directors; Dallas Fed renews terms for two board members
Central bank currency department costs on the rise
Majority of central banks’ budgets have also increased over the past five years
Brazilian governor outlines climate reporting rules
Campos Neto says Brazil’s banks must file climate risk reports from June 2023
US records highest CPI inflation rise since 1990
NY Fed detects slight rise in short-term consumer inflation expectations as real wages fall
Higher-denomination banknotes have longer lifespans
Median correlation was 0.9 across 22 central banks