Africa
Cyber crime is central banks’ top financial instability risk
Upper-middle income countries more likely to be wary of foreign exchange crisis
Central banks say co-operation on AML/CFT effective
But some still want improved data sharing, surveillance and relationships
Rising AML/CFT risks reported in 40% of jurisdictions
But majority of central banks empowered and well equipped to mitigate risks
Authorities resolved median of one bank over past decade
Central banks suggest measures for resolving failed banks
Bank of Uganda cuts rates by 25bp
Move comes despite inflation having risen for third consecutive month
Three in five central banks seek improved banking regulations
Basel III reforms, liquidity controls, capital adequacy, others dominate list of concerns
Reserve requirement remains leading macro-pru policy
High income countries favour caps on loan-to-value ratios
Most central banks have macro-pru mandates
Nine institutions seek more macro-pru tools
Financial stability budget increases in most central banks
But resources less likely to be sufficient in Africa and lower-middle income institutions
Two in five financial stability divisions have staff shortage
FTE employees average under 30 workers across responding institutions
Policy-makers report progress in CBDC exploration
Central banks generally see promise in digital currencies, though one is halting research
Asia’s central bankers bullish over cross-border payments
Policy-makers at Asia Summit also spoke of gradual pick-up in use of local currencies
Ethiopia adopts market-based FX regime
Move follows monetary policy reform aimed at attracting IMF funding
Turkey’s economic odyssey: inflation, lira decline and strategic shifts
Marcello Minenna delves into the damage of 20 years of ‘Erdoganomics’
Minutes released with greatest lag in lower-middle income countries
Blackout period lasts seven days in most central banks
Inflation targets have served EMEs well, says Sarb governor
EMEs and banks have ridden out rate rises relatively well, but refinancing and geopolitical risks remain
Money-supply targetters account for lowest frequency of policy meetings
Upper-middle income central banks set policy and publish reports at highest frequency
Middle income monetary policy staff salaries fall behind peers
Officials in Europe and Africa tend to earn highest average annual income
African countries plan to link payment systems – Rwangombwa
Rwanda central bank governor promotes scope for fintech growth in Africa
MPCs largest in inflation-targeting central banks
Government reps attend meetings in two-thirds of jurisdictions with other regimes
Monetary policy budget averages under $2 million annually
Budgets larger in high income, upper-middle income central banks