Central Banking
Cash remains most common means of payment in Germany
But share of cash payments dropped from 74% in 2017 to 58% in 2021, Bundesbank finds
Bank of Uganda raises rates 100bp at unscheduled meeting
Move is second increase in as many months as governor’s post remains unfilled
Uruguay continues ‘contractionary’ monetary policy
Eighth consecutive rate hike is smallest since last November
FSB cross-border payments work hampered by data problems
Measuring progress “will not be straightforward”, working group says
Modelling the short-term economic impacts of climate change
Econometric models can give central banks a clearer picture of short-term climate impacts, says Stephen Millard
Asian central banks deploy FX reserves to prop up currencies
Analysts remain confident in Asia’s financial stability, but recession risks are building
US risks slipping back into secular stagnation, says Rajan
Fed has “good chance” of defeating inflation but US economy has deeper problems, economist says
Brazil central bank union ends strike
Months of industrial action fail to secure requested pay increase
Zimbabwe fights inflation with gold coins
Announcement comes after currency devaluation
Nagel lays out conditions for ECB anti-fragmentation instrument
Bundesbank president says it should be temporary and only used in “exceptional circumstances”
BoE’s Pill says focus is on slower-moving elements of inflation
Policy-makers trying to walk “narrow path” as they resist second-round effects of high inflation
Bank of Canada deputy stresses heterogeneity’s role in monetary policy
Debt may complicate tightening cycle, as Canadian consumer inflation expectations rise
Bank Negara Malaysia raises policy rate by 25bp
BNM says it will ensure monetary policy remains accommodative to support economic growth
DNB governor apologises for its role in slavery
Knot outlines central bank’s close links to slave trade and pledges to fund diversity projects
Chile central bank opens CBDC survey
Poll is part of gradually unfolding evaluation of potential digital currency
Bank of Israel orders biggest rate rise since 2011
Central bank continues “monetary contraction” as Israel faces fifth election since 2019
Labour market power can explain ‘wageless recovery’ – IMF paper
Monetary policy can cut unemployment without raising wages where bargaining power is weak
BoE flags global risks in ‘opaque’ commodities market
LME disruption reveals “highly leveraged” participants within financial system
RBA raises interest rate by 50bp
Move marks a total of 125bp of increases since May
ECB introduces green asset policy
Moves aim to “gradually decarbonise” Eurosystem’s bond holdings, ECB says
IMF set for governance reform in wake of ‘Doing Business’ controversy
Board to make changes to data integrity, whistleblower protection and dispute resolution
Iran imposes restrictions on payments
Authorities cite risk of cyber attacks, but economy has also faced capital flight
Basel Committee proposes capital add-ons for crypto exposures
Committee tightens proposed rules in several areas following high-profile crypto failures
US core inflation continues decline
Headline PCE inflation flat as food and energy inflation remains buoyant