Central Banking
Prosecutors call FTX ‘one of the biggest frauds’ in US history
Sam Bankman-Fried arrested in Bahamas as US authorities file charges
IMF approves long-term resilience loan for Rwanda
Fund urges “more decisive monetary tightening”
RBA governor has ‘no intention of resigning’
Governor Philip Lowe says bringing inflation down remains his focus
Inflation falls more than expected ahead of Fed meeting
Inflation expectations also drop, prompting calls for caution from the Fed
Renminbi and the special drawing rights
What impact does the renminbi’s increased weight and the $650 billion increase in the International Monetary Fund (IMF) special drawing rights (SDR) have for the role of the Chinese currency in reserve management?
BoE to stress-test non-bank sector for first time
“Exploratory” exercise will test market liquidity as officials call for “urgent” action on non-banks
ECB paper examines effects of real rates on banks’ fragility
Level of real interest rates determines whether price or scale effects predominates, researchers find
Yemen central bank sanctions firms in Houthi-controlled areas
Exchange firms in northern territories ordered to close accounts
IMF and Ghana reach initial agreement on $3 billion loan
Stricken country preparing domestic debt restructuring
PBoC reports rise in gold reserves for first time since 2019
Analysts say the move is part of China’s ongoing efforts to diversify its vast dollar-denominated assets
Inflation, geopolitics and the renminbi
At a Bank of China (Hong Kong)-sponsored forum, policy‑makers discussed geopolitical developments and China’s macroeconomic outlook as global inflation rises
The canary in the goldmine
Gold accumulation may herald broader concerns about dollar holdings, writes Jennifer Johnson-Calari
Nigerian central bank limits cash withdrawals
Governor says policy will increase cashless payments use and cut crime, but politicians criticise move
BoE tenders for CBDC mobile wallet
Central bank will not release wallet to the public but says it wants to “sharpen functional requirements”
Rates round-up: Poland holds rates despite high inflation
Serbia and Bulgaria raise rates as double-digit inflation plagues eastern Europe
Law change set to make Fed reveal holders of master accounts
Amendment grew out of dispute between Republican senators and Kansas City Fed
BIS bulletin weighs pros and cons of ‘front-loaded’ tightening
Recent rate increases are highly synchronised and twice as fast as previous cycles, authors say
Italy to allow larger cash payments despite central bank objections
Official warns move could encourage illicit activity
RBA’s Jones calls for more analysis on CBDC
Benefits need to be set against “careful consideration” of downsides, assistant governor says
BIS paper finds ‘mixed’ evidence of non-banks triggering spillovers
“Extreme” capital flows have not worsened, but central banks are also more active, authors note
Brazil and Paraguay hold rates, while Curaçao opts for rise
Inflation has almost halved in Brazil in six months since April, but board says fiscal outlook uncertain
Dollarisation did not prevent monetary financing, paper finds
IMF researchers show how Ecuador created central bank money without its own currency
Chile pauses rate hikes, but Peru continues tightening
Peruvian board carries on with policy meeting despite political turmoil
Bank of Canada raises rates again
Central bank notes growth is stalling and will consider if more raises are needed