Central Banks
Obstfeld argues central banks’ rate models are ‘conceptually flawed’
Former IMF chief economist says rates could soon return to the effective lower bound
Zimbabwe announces name of next central bank governor
Mushayavanhu will take over next year, ending Mangudya’s decade as RBZ head
Sooner or later, Argentina should dollarise
Dollarisation would be straitjacket, says Steve Kamin, but still looks preferable to the other options
Taiwan central bank completes feasibility study on wCBDC
Deputy governor says CBDCs could form “foundation of trust” for future monetary system
RBI continues holding policy rate at 6.5%
Central bank warns food prices pose upside risk to inflation
Israeli reserves increase by almost $7 billion in November
FX sales fall from $8.2 billion in October to $338 million last month
Basel Committee to consult on stablecoin capital requirements
Feedback also sought on interest rate risks and G-Sib “window dressing”
IMF: Argentina needs ‘a strong and credible central bank’
Central bank caps banks’ FX holdings ahead of Milei inauguration on December 10
Australian government and RBA agree dual mandate for central bank
RBA to begin publishing unattributed record of votes for its monetary policy decisions
Mir card system to operate across Cuba
Russian payments network continues gradual progress in Latin America
Central banks adapt forecasts with financial sector and other changes
Host of changes to modelling incorporate financial channels, nuanced expectations and more
Milei confirms Santiago Bausili as BCRA pick
Appeals court recently dismissed conflict–of-interest charges against governor-designate
BoE and FCA set out plan to oversee ‘critical third parties’
Regulators fear growing reliance on outsourced services could threaten financial stability
BCEAO raises rates 25 basis points amid inflation worries
Move is sixth hike in seven quarters, taking policy rate to 3.5%
DNB aligns $9.7 billion of reserves with Paris Climate Agreement
Targets aimed to reduce “real-world” carbon emissions beyond portfolio decarbonisation
Bank of Canada holds rates steady
Macklem says it’s clear the stance of policy is restricting inflationary pressures
Inflation forecast errors moderate after surge in 2022
But growth forecast errors are higher in 2023, data shows
UK regulator proposes tougher rules for money market funds
BoE welcomes FCA move and warns of wider risk of “dysfunction” in core markets
Kenya increases policy rate by 200bp to strengthen shilling
Governor says equilibrium rate has been ‘overshot’
Canada introduces first Charles III coins
Argentina updates 2,000-peso note; ECCB commemorative note honours cricketer; and more
BoJ’s Himino highlights benefits of ending negative rates
Deputy governor says there has been ‘solid progress’ in firms’ price and wage-setting behaviour