Asia-Pacific
Richer nations less likely to have central banks as sole macro-pru authority
Respondents from lower-middle income countries more likely to be only macro-prudential body
The case for restoring the role of monetary aggregates
Tim Congdon argues that a surge in money supply in response to Covid-19 sparked heightened inflation and central banks need to refocus their attention on monetary aggregates
Central bank boards often used for stability decisions
Institutions from high income countries most likely to give stability remit to boards
Turkish business chief criticises central bank as lira falls further
Governor says central bank is working to make Turkish firms use more lira-denominated assets
Monetary policy set a maximum of 12 times a year
Frequency of meetings highest on average in upper-middle income economies
Asian central banks deploy FX reserves to prop up currencies
Analysts remain confident in Asia’s financial stability, but recession risks are building
Monetary policy press conferences more common than minutes
High income institutions trail behind middle income banks on minutes publication
Monetary policy and ops divisions mostly segmented
Nine in 10 institutions separate units in the Americas, Asia and Europe
PBoC launches renminbi reserve pool with BIS
Equivalent of $13.5 billion will be pooled by six central banks to withstand market volatility
Covid impacting monetary policy most in middle income countries
Most central banks report shifting stance at the height of pandemic, but some have since reverted
BSP raises rates by 25bp, while Indonesia holds
Economist warns Philippine central bank’s action may not be enough to bring inflation down
Japan and Soramitsu to conduct Asia-Pacific CBDC studies
Observers note de-dollarisation and spread of e-yuan as potential motivations
Non-bank access to RTGS systems still rare
Only a handful of central banks allow non-bank users
People: April to June 2022
A round-up of central bankers in the news and on the move during the past three months
High income countries have larger share of staff devoted to payments
Structure of central banks’ payments sections differs across institutions
Average RTGS system processes millions of payments yearly
Benchmarking data shows wide range of transaction volumes
Less than 10% of RTGS systems meet ISO 20022
Most non-compliant central banks plan to implement messaging protocol by 2025
People: Skingsley to head BIS Innovation Hub
New deputy governor in Philippines; BIS names new Asia-Pacific rep; and more
Central banks use many third parties for payments projects
Respondents mention various providers, with Montran the most frequently cited