Russia
Ukraine: the challenges for central banks
Rules on the weaponisation of money would help to protect a ‘public good’ amid geopolitical splits in a testing environment for central banks, write Gavin Bingham, Paul Fisher and Andrew Large
Russia’s Mir forced into retreat
Banks and payment systems across Asia banish Russian cards after US warnings
US imposes sanctions on Russian governor
Treasury says Nabiullina and other officials have facilitated Russian invasion of Ukraine
Inflation: what went wrong, and why?
Three theories on the causes of high inflation and their implications for policy responses
Russian central bank cuts rates again but Nabiullina warns over deficit
Higher structural deficits would force central bank to raise rates, governor says
Economy’s ‘first responders’ now in the line of fire
Forceful but late interventions to combat inflation raise the risk of central bank overreactions
Bank of Russia says lenders have lost $24 billion
Central bank issues pessimistic forecast on oil earnings but says lenders are coping with sanctions
Will the dollar remain the world’s reserve currency?
Bank of Russia sanctions raise questions about the US dollar’s central role
Gontareva on Ukraine’s funding, NBU policy and reconstruction
Ex-NBU governor talks about fund shortfalls, finstab challenges, the CBR and post-conflict rebuilding
Geostrategic risks now a major factor – CNB reserves head
Ondrej Strádal supports using CBR assets for reparations, is reassessing RMB and expects US recession
Russian banks set to use digital ruble in 2024
Cross-border integration with “friendly countries” planned to bypass Swift
Ukraine’s wartime economy faces possible crisis
Foreign donors must increase financing of Ukrainian government, former NBU governor Gontareva argues
How central bank mistakes after 2019 led to inflation
There is a need to acknowledge errors and take concrete action to restore confidence in policy-making
The case for restoring the role of monetary aggregates
Surge in money supply in response to Covid-19 triggered rampant inflation
Bank of Russia cuts rates, but Nabiullina warns of volatility
Governor says inflation and currency are volatile, and “geopolitical situation” is creating uncertainty
Book notes: Harry White and the American creed, by James Boughton
This book offers a deeper understanding of the IMF founder, but fails to resolve espionage charges
US targets North Korean crypto hacking
Treasury seeks co-operation to better enforce sanctions on North Korea and Russia
Filipe Dinis on Bank of Canada’s cyber strategy and tackling cyber risks
The Canadian central bank’s chief operating officer calls for heightened vigilance, more collaboration, info sharing and tabletop exercises, and less reliance on similar, siloed systems
Russian central bank lowers rates to pre-war level
Nabiullina warns tighter oil sanctions could still have serious impact on economy
Ukrainian debt holders brace for restructure
Investors could see a 40% haircut on the bonds, though final figure will depend on complex talks
Bank of Russia cuts rates again
Central bank says inflationary pressures are falling but economy faces considerable constraints
The green agenda dilemma
Central banks face a choice over whether to support national energy independence or climate goals
Bank of Russia continues unwinding giant rate hike
Central bank cuts rate 300 basis points to 14%, in second reduction this month
BIS figures show banks cutting Russia exposures
Exposures down almost half since Russia annexed Crimea in 2014