News
Banknotes: July to September 2022
A round-up of news and salient issues that have affected central bankers in the past three months
Bank of Russia says lenders have lost $24 billion
Central bank issues pessimistic forecast on oil earnings but says lenders are coping with sanctions
Guatemala and Dominican Republic raise rates
DR says inflation is “moderating” and economy is strong; Guatemala notes second-round effects
BoE’s planned procyclical capital hike bewilders banks
Some doubt regulator will go through with counter-cyclical buffer hike while forecasting recession
Lars Rohde to retire from National Bank of Denmark
Governor will step down after 10 years in the role
Chile rejects new constitution, sinking central bank reform
Draft had proposed some changes to central bank governance and mandate
Nigerian currency pressure mounting as central bank releases airline funds
Customers are facing limits on what they can withdraw from some banks, say reports
New Dallas Fed president says inflation is top priority
Lorie Logan pledges to build relations with local population and work on behalf of community banks
ECB appoints expert advisers on supervisory process
Members include former Japanese FSA head Himino and Bank of Canada deputy Rogers
China and Hong Kong to strengthen capital market ties, senior official says
Hong Kong markets should be able to trade in Chinese government debt futures, says Fang Xinghai
Fed’s QT reaches maximum as critics warn of stability risks
Former RBI governor Rajan and co-authors argue QT may pose risks for financial stability
IMF says Sri Lanka must reform central bank law for $2.9bn bailout
Government must end monetary financing and give central bank autonomy, fund says
Privacy commissioner closes probe into RBNZ cyber defences
Central bank has “made every change recommended and more” in wake of hacker breach
ECB’s Lane and Schnabel strike different notes on eurozone inflation
Schnabel says “right tail” shift could herald de-anchoring, but Lane says other outcomes are possible
RBA to focus on inflation targeting for 2022–23
Australian central bank changes priority as inflation reaches highest level since 1990s
Tensions flare between policy-makers over US Treasury reform
SEC’s proposed rule-changes have “ruffled feathers” at Treasury department
Swift aims to cut cross-border frictions with predictive tool
Use of anonymised data can help spot errors in cross-border payments, Swift says
FedNow scheduled for mid-2023 launch
Bowman and Brainard see CBDC substitution and cloud technology advantages
Hungary raises interest rate to 11.75%
Central bank official cites inflation and dispute over rule of law
Chile renews IMF flexible credit line as risks grow
Months after ending the previous facility, Chile has reactivated it
US judge rules against seizure of Afghan central bank assets
Assets cannot be seized while US government does not recognise Taliban regime, judge says
Supply-side pressures likely to persist – Carstens
Policy-makers “need to be realistic” about the feasibility of demand management, BIS chief says
Case for retail CBDC ‘not compelling’ in Singapore – Menon
But MAS is building CBDC and sees some “promising use cases” for digital assets
Two rural banks in China’s Liaoning province go under
Regulator says the banks were involved in illegal operations