News
Philippines names Eli Remolona as new central bank governor
Incoming governor previously worked 14 years at the New York Fed and 19 years at the BIS
Central banks face tough fight for ‘last mile’ of disinflation – BIS
Credit losses could rival global financial crisis in higher-for-longer scenario, institution warns
BIS says strategic plan now 80% complete
Institution reports rise in profits as it continues to overhaul banking services
US regulators considering tougher capital rules for medium banks
FDIC chairman says rule change may cover all US banks with more than $100 billion in assets
Bank of Mexico holds rates again
Board says rates will remain at current level “for an extended period”
Zambia agrees foreign debt deal
Government agrees to repay faster if IMF assesses its ability to do so has risen
Philippine and Indonesian MPCs hold rates again
Analysts expect both banks to keep rates unchanged for several more meetings
Two major lenders tighten limits on Russian transactions
Raiffeisen stops euro payments to Russia, and Bank of China stops yuan payments from Russia
Turkish central bank raises rates for first time since 2021
Lira falls despite tightening as finance minister promises “free foreign exchange regime”
Africa: Rate rises for DRC and Namibia, but Zimbabwe says no
DRC and Namibia react to high inflation as expert says Zimbabwe is suffering hyperinflation
Latin America: Brazil holds rates despite president’s attack
Chilean board also holds policy, while Costa Rica cuts after inflation goes below target
Switzerland and Norway raise rates
Norges Bank expects further increases while SNB does not rule them out
BoE makes surprise 50bp rate increase
Central bank to review modelling framework after repeated forecast errors
Finnish governor Rehn will run for president
Marja Nykänen will be acting governor of Bank of Finland while Tuomas Välimäki takes ECB role
Central Bank of Oman launches 24/7 RTGS
Oman will be connected to payment systems across the Arab world via AFAQ and Buna systems
Euro remained second reserve currency in 2022 – ECB report
Structural factors continue to hold back the euro as a reserve currency
PBoC to use deposit insurance fund to repay Henan bank victims
Central bank will reportedly use around $1.4 billion to repay affected depositors
BoE policy-maker flags perils of ‘dynamic leverage’
Market participants need to fully understand the consequences of fund structures, says Jonathan Hall
BoF’s Rehn says government plans violate central bank independence
New Finnish prime minister says he will revisit policy statement
IMF’s Adrian draws ‘blueprint’ for international CBDC platform
Model would use common token, exchangeable with central bank reserves
Unified ledger could usher in ‘profound’ economic change – BIS
Hyun Song Shin describes single platform for public and private money as “game changer”
BoE launches first ‘system-wide’ stress test
Analysis will assess how banks and non-banks interact to amplify shocks
Bangladesh to adopt single exchange rate
Central bank raises interest rates as it struggles to stem inflation and build reserves
Nigeria liberalises exchange rate
Naira falls sharply as country leaves Emefiele era behind