Central Banking
One ledger or eight: the design choice that will shape cross-border money
Two rival tokenised settlement networks have both expanded – mBridge into Macau and Mongolia, Agorá to Canada. The contest between them is not primarily about technology, and not yet about currencies. It is about who keeps the ledger, argues Marcello…
People: ECB appoints head of directorate-general secretariat
Plus new appointments to lead oversight at the Central Bank of Ireland
Bolivia nears $2.8bn IMF deal
Minister says country ‘days away’ from agreement on funding to strengthen central bank reserves
ECB holds rates at 2.25% in line with expectations
Lagarde says second-round inflation effects have yet to show up in data
Ghana holds rates for second time this year
‘Vigilance is the word’ amid heightened geopolitical tensions, says governor
Peirce warns crypto vaults and lending may fall under SEC rules
Commissioner urges against legal ‘gymnastics’ to avoid regulation
Most Australians think higher rates cause inflation – RBA poll
Bank says widespread popular misconceptions illustrate need for improved communications
Bank of Russia confirms new crypto regime
Law forms part of de-dollarisation and alternative payments push as Moscow seeks new ways to evade sanctions
Renewed Middle East hostilities prompt Nigeria to hold
Central bank keeps rates at 26.5%, despite moderating inflation
‘Tips clone’ developed by Bank of Italy goes live in Balkans
Bosnia and Herzegovina and Montenegro become first jurisdictions connected by payments system
Closer PBoC-CBL ties reflect China’s strategic aims, says expert
Central Bank of Libya to enter China’s payment system and bond market
Moody’s lifts Argentina’s credit rating
Agency says country’s default risk has declined amid fiscal surpluses and falling inflation
Institutionalising change: the challenge for Argentina
Martín Redrado sets out what is needed for a meaningful and resilient new ‘charter’ for the Central Bank of Argentina
Indonesia unexpectedly holds, thereby ending tightening spree
Economists see room for BI to keep rates at their current level as rupiah depreciation pressures ease
Argentina should borrow from international markets – Obstfeld
Economist calls for transition to floating exchange rate with inflation targeting
Hungary continues easing cycle with 25bp cut
Central bank says further rate cuts likely, despite inflationary impact of Iran war
FX controls have minimal impact on stablecoin dollarisation – study
BIS working paper argues that growing use of crypto assets presents policy challenges for EDMEs
Geopolitical risks cause eurozone banks to tighten credit
ECB’s quarterly survey shows lenders alert to continued instability resulting from Iran war
Tajikistan keeps inflation on target after lowering band
Central bank reports 4.1% price growth in H1, 50bp higher than in first half of last year
China leaves LPRs on hold for 14th consecutive month
Decision in keeping with ‘moderately loose’ policy stance repeatedly outlined by PBoC officials
Everything you always wanted to know about money (but were afraid to ask)
Rupal Patel and Jack Leslie, authors of ‘Money: the inside story’, speak about how central banks can improve their comms – and credibility – by tackling popular misconceptions about how finance works
Cipollone outlines digital euro app as ECB readies pilot
Board member says application will ‘leave no-one behind’
MBS convexity hedging: back with a vengeance, or ghost story?
More bonds now sit with active hedgers but market is split on whether flows can move US rates again
Shocks greater when inflation already high – BoE study
Bank publishes latest response to Bernanke review of UK monetary policy-making