Exchange rate
Communications initiative: Bank of Jamaica
The Bank of Jamaica broke the mould with its reggae-inspired communications strategy, but observers suggest it has done more than just lift the economic literacy of its society
Thailand cuts rates as coronavirus threatens growth prospects
Central bank lowers interest rates 25bp on concerns outbreak will hamper prices and tourist revenues; Asia-Pacific countries face strongest impact from the virus
Central bank of the year: Bank of Ghana
The African central bank has carried out extensive reform of Ghana’s banking sector
Chilean central bank holds rates, citing uncertain outlook
Central bank warns of impact of fall in demand for Chile’s major export as mass protests continue
Argentinian central bank willing to finance external debt
Institution commits to maintain positive real interest rates in order to foster price stability
Lesotho cuts interest rates to 6.25%
Central bank reduces rates and lowers reserves target on back of weaker domestic outlook
Bank Negara Malaysia surprises market with ‘pre-emptive’ rate cut
Analyst believes move signals end to “brief easing cycle”
Iceland boosts reserves despite volatility in 2019
Central bank carried out forex interventions to offset the “abrupt weakening” of the króna
Chile unexpectedly halts forex interventions
In December, interventions helped peso appreciate, but it has resumed downward trend
Bank of Thailand grapples with baht appreciation
Central bank has relaxed forex regulations and cut rates as baht hits six-year high
Patterns of exchange rate pass-through are changing – RBI paper
Pass-through in emerging markets is non-linear, asymmetric and falling, authors find
West Africa launches new currency in break with France
New ‘eco’ currency will still be pegged to the euro, but France will have less involvement in the affairs of the West African Economic and Monetary Union
Network effects magnify impact of US monetary policy – BdF paper
Researchers find that impact of US monetary policy is increased by complex cross-border interactions
Argentina woes deplete Uruguay’s reserves – IMF
Reserves drop from $15.6 billion to $14.3 billion in 12 months as dollar deposits also begin to rise
Bank of Israel digs in for long fight against strong shekel
Central bank has “plenty of patience”, says monetary policy-maker
Sri Lankan government may not pass central bank reform – adviser
Former governor’s comments come as IMF praises draft law on central bank inflation targeting
Paul Volcker, 1927–2019
The Fed chair made his name battling inflation, and left his mark on independence and post-crisis financial regulations
Chile’s forex intervention likely to stabilise peso – experts
Much depends on the reform programme the government chooses to adopt, however
Greater exchange rate flexibility warranted in Peru – IMF
Limiting interventions would help reduce dollarisation further, says fund
Chile to sell $400m a day in first week of forex interventions
Central bank selling $200m in spot market and $200m in 30-day forwards
Chile launches biggest forex intervention in 20 years
Chilean peso has fallen by 14% against dollar since mid-October amid massive street protests
Brazil sells dollars as real falls to record low
Currency has fallen by 11.3% against dollar since July, as central bank cut interest rates by 150bp to new low of 5%
Bank of Zambia cuts rates as food crisis mounts
Zambian central bank calls for better government policy as drought causes a sharp rise in food prices
Zimbabwe reverses policy stance, slashing rates to 35%
Monthly inflation continues uptick, but central bank’s MPC halves policy rate following review