Commodities
Book notes: Bold vision, by Freddy Orchard
Largely uncritical insights about the formation of the GIC and Singapore’s currency regime
PNG central bank dispute leads to fuel rationing
Papua New Guinea central bank has accused fuel importer of failing to repatriate earnings
IMF extends food shock window despite low demand
Fund postpones end to looser caps on emergency credit
Chile’s central bank aims to boost reserves by 28%
Programme aims to buy $10 billion in FX over 12 months after interventions to support peso
ECB needs ‘persistence’ in tight policy, French governor says
Transmission is slow but rate should reach terminal level in summer, says Villeroy de Galhau
Dollar’s commodities link is creating risks, BIS paper warns
Simultaneous rises in dollar and commodities prices could harm stability, researchers say
Bolivian governor says country faces ‘liquidity crisis’
Authorities’ response to bank failure could worsen financial stress, analysts say
Argentina raises rates again
Economic stability grows more distant as elections loom
Book notes: The rise of central banks, by Leon Wansleben
The books is at its best when the author focusses on sociological angles related to central bank economics
Argentina orders 1,000bp rate hike as peso struggles
Central bank tightens for second time in a week
BoE’s Pill: UK must accept it’s ‘worse off’
Chief economist says declining terms of trade mean purchasing power must fall
Global economy will be ‘anaemic’ – IMF
Inflation falling, but central banks will only reach targets over 2024 and 2025
Rates round-up: Ghana and Thailand tighten
Many central banks in Africa, Asia and Europe still raising rates, but Angola continues cuts
Norway and Iceland raise rates as inflation stays high
Iceland’s governor warns of wage-price spiral and says economy is overheating
Bolivia sells dollars to public as reserves dwindle
Analysts say central bank may not be able to defend its peg much longer
RBI continues with gradual monetary tightening
Governor notes continued progress on inflation but core index remains “sticky”
Sarb slows rate rises as South African economy falters
Blackouts may cost up to “two percentage points” of growth this year, central bank says
Haiti receives $105 million emergency loan
IMF urges central bank to cut back monetary financing
S&P worried about Israeli plans to use SWF funds, says report
Finance ministry says no bill has been prepared
Peru raises rates for 18th consecutive month
Inflation remains stubbornly high, but central bank is optimistic it will fall in 2023
US CPI inflation falls again
Falling fuel prices drive down index for sixth straight month
Papua New Guinea flights grounded amid FX dispute
Central bank accuses fuel supply firm of failing to repatriate foreign exchange earnings
Rates round-up: Turkey pauses rate cuts
Egypt hikes main rate 300bp after IMF deal; Indonesia decelerates tightening; and more
Egypt raises policy rate and floats currency
Central bank decisions come as IMF signs preliminary deal for further $3 billion loan