News
Geopolitical risks set to fuel financial instability, IMF says
Report urges supervisors to integrate this factor into their stress tests
Kansas City Fed warns slow wage growth could spur debt problems
Subprime auto debt back above pre-pandemic levels and consumer debt at highest level ever
Illegal gold trade impacts Ethiopian reserves
Assosa region holds one of the greatest untapped resources of gold in the world
Rates round-up: Mexico and Colombia slow tightening
Guatemala also tightens with 25bp hike; Chile and Dominican Republic continue pauses
IMF eases Argentina loan terms
Fund approves $5.4 billion payout and lowers reserves targets as drought conditions bite
Central banks need non-bank liquidity ‘toolbox’, says IMF
Fund says central banks should act as lender of last resort to systemically important non-banks
Opec+ production cut threatens inflation outlook
Higher energy prices were the main factor boosting inflation in 2022
Fed’s Cook says monetary policy is now restrictive
PCE and core PCE inflation both fall as Cook argues tight banking conditions could ease path
Bank of Israel warns political turmoil could hit GDP
Central bank slows cycle with 25bp hike, raising key rate to 4.5%
China and Brazil set up infrastructure for renminbi clearing
Move comes as renminbi overtakes euro as Brazil’s second largest reserve currency
IMF approves $15.6 billion for Ukraine
Fund calls wartime loan “unprecedented” and risky
BoE paper explores ‘anatomy’ of gilts crisis
Detailed account of crisis reveals contagion, concentrated risk and role of wider market players
Sweden does not yet need CBDC, inquiry finds
Report recommends strengthening access to cash and other offline payment methods
Singapore and Malaysia set up cross-border payments link
Travellers can use QR codes to pay for transactions in foreign stores
Rates round-up: Kenya raises rates to highest since 2018
Sarb adds 50bp more as economy struggles; Zimbabwe cuts 1,000bp; Mozambique holds
Uruguay’s government will recapitalise central bank
Economist says BCU failed to hedge against exchange rate risks
Australia to publish central bank review in April
Independent review likely to propose changes to RBA’s board
EU politicians back plan for new AML authority
Proposals include tougher transparency requirements and crypto transaction limits
SVB collapse threatened banks across the US – Fed’s Barr
“Full extent” of bank’s vulnerability was not clear to supervisors until the run, vice-chair admits
Lagarde slightly injured in car accident
ECB president was departing Euro Summit
UK banks insulated from wider troubles, BoE says
Financial policy committee “closely monitoring” events but says capital and liquidity are sufficient
Rates round-up: Ghana and Thailand tighten
Many central banks in Africa, Asia and Europe still raising rates, but Angola continues cuts
PBoC swap lines now key international bailout tool
Researchers say PBoC extended support worth billions of dollars to Belt and Road countries
Fed details Custodia rejection decision
Decision says Wyoming firm has deficient management and risky business model