Central Banking
Bangladesh Bank moves towards flexible exchange rate
Removal of restrictions part of conditions for securing additional IMF funds
ECB intervention stabilised debt market during Covid – research
Study by bank’s economists says firms found it harder to issue commercial paper later on
NY Fed and BIS explore monetary policy in a tokenised world
Project Pine’s smart contracts are designed so central banks can adapt them to their currencies and frameworks
US has got what it wanted from Basel, say former regulators
Process has been "essentially driven" by US interest, says former Fed vice-chair
Iran to remove four zeroes from its currency
Central bank says measure will come into force later this year as country battles high inflation
RBI reviews closed-system wallets after Blu-Smart’s demise
Users of electric cab company, which halted operations in April, were unable to access funds
German and Spanish governors criticise US policies
Nagel defends Fed independence, while Escrivá cautions against excessive deregulation
Fed researchers call for new definition of ‘unbanked’
Economists support paper’s more nuanced approach, but caution against dropping current terminology
BoE to consult on promoting clearing for gilt repo market
Deputy governor also takes aim at bilateral repo haircuts and cross-CCP netting
Hungary to change central bank law
Amended legislation would increase size of monetary council and ban creation of new foundations
Korean officials argue for stablecoin authorisation body
Central bankers warn of currency substitution and monetary policy risks
BoE’s mandate may be too broad, warns Mervyn King
Former governor chats with Paul Tucker on independence and central banks’ optimal remit
Tariffs already raising US inflation – Fed study
Researchers say trade policies were starting to affect consumer prices in March
Brazil and China agree currency swap line
BCB says it is in talks to establish similar arrangements with other central banks
Iran launches second phase of payments link with Russia
Iranian stores to accept Russian bank cards via mobile app
EBRD outlook turns gloomy after US tariffs
“Not a very happy picture” for world economy, says institution’s chief economist
Ex-BoE official calls for active monetary response to gilt shocks
Clear framework needed to address government bond market volatility, Sushil Wadhwani argues
Bank of Finland makes renewed case for instant payments system
Solution would strengthen national security, bank says
East Africa governors discuss delayed single currency launch
Leaders adopt “masterplan” to modernise and integrate payments systems
Eurozone monetary policy must remain ‘firmly’ neutral – Schnabel
ECB board member cautions against overreacting to undershooting
Bank of Burundi issues ‘world’s largest banknote’
Commemorative bill measures 400mm by 288mm and is on sale at €2,200 apiece
Rate hikes have created debt-servicing difficulties – ECB study
Research also points to overall robustness in eurozone’s household lending sector
Hedge funds burned as Hong Kong dollar bets implode
However, market participants still seem satisfied with the HKMA’s commitment to defending currency peg
Spain imposes capital buffers on Norway-exposed bank
Santander’s exposure to Norwegian market is above exemption threshold