Commodities
Kazakhstan’s president announces changes to powerful wealth fund
National unrest leads to changes at SWF that owns an estimated 40% of GDP
Paraguay orders third 125bp hike
Central bank cites inflationary pressures and says monetary policy is still “accommodative”
Book notes: Empire of silver, by Jin Xu
A useful introduction to China’s monetary history, focusing on the last 1,000 years, but not the easiest of reads throughout
Kyrgyzstan raises rates again after lull
Central bank orders 50bp hike amid double-digit inflation
Azerbaijan authorities order 50bp hike
Price deregulation and global factors lead list of inflation drivers
Kazakhstan continues monetary tightening
National Bank orders third 25bp increase in a row, in line with Russia
BSP calls for criminalisation of ‘extreme’ coin hoarding
Philippines central bank proposal comes as police seize hoard of 50 million pesos worth of pennies
Podcast: Diversifying portfolios post-Covid
BNP’s Johanna Lasker talks about why central banks should consider equities and Tips
Canada records highest inflation since 2011
House prices help drive figures up, as inflation becomes campaign issue in election season
PBoC plays down surge in factory-gate prices
PPI and CPI in July both higher than expected, but central bank says pressure is “controllable”
Armenia and Georgia raise policy rates
Caucasus states follow Russia in anti-inflationary moves
Seychelles central bank cuts policy rate by 100 basis points
Central bank considers weak economy more a concern than high inflation
Kuwait dispute leaves SWF without managing director or full board
Fiscal battle between monarch and parliament keeps top positions at sovereign wealth fund vacant
Angola grants central bank independence
Constitutional amendment will guarantee autonomy and add financial stability to mandate
All that glitters – Surveying central banks on gold reserves
Key survey data and comments reinforce the main findings in Invesco’s central bank reserve management white paper on the revival of gold as a reserve asset.
Book notes: Money, by Geoffrey Ingham
The incompatible theories of money: Ingham reveals the fundamental clash of ideas that shape the environment in which all central banks operate
An end to the loveless marriage with the US dollar?
Covid-19 represents an unexpected shock that could cause further US dollar decoupling, which could show up in next week’s Cofer data release, writes Gary Smith
Bank of Zambia cuts rates as Covid concerns intensify
Zambian central bank calls for debt sustainability policies as growth and inflation forecasts worsen
Martin Galstyan named next Armenian central bank chief
Experienced central banker will inherit below-target inflation and depressed commodity prices
Major economies already engaging in ‘currency wars’ – former IMF chief
De Larosière floats new commodity-based exchange rate regime; says “trust” is key to avoiding “beggar-thy-neighbour” policies
Russian central bank responds to virus and oil shocks
Bank of Russia announces liquidity boost and new risk weighting for companies hit by coronavirus
Policy responses to Covid-19
The coronavirus outbreak poses a real threat to the global economy, writes Sayuri Shirai
Bank of Guyana to manage new sovereign wealth fund
New fund, operationally managed by central bank, will invest profits from new oil revenue
Inflation models must pay more attention to globalisation – Brookings paper
Global factors more important for some inflation measures since 2008 financial crisis, researcher finds