Foreign exchange
Inside the week that shook the US Treasury market
Rates traders on the “scary” moves that almost broke the world’s safest and most liquid investment
BCRA renews $5 billion currency swap with PBoC
Argentina gets reserves boost, with new IMF deal expected to be finalised over coming days
Kenya cuts benchmark rate to 10%
Central bank says easing necessary to boost lending to private sector and stimulate growth
Nigeria sells FX to offset tariff-induced volatility
Oil-exporting country also affected by decline in commodity prices
Ethiopia to conduct FX auctions every two weeks
NBE says move will help it achieve policy objectives as it looks to lower inflation to single digits
Can central banks cut remittance fees to sustainable levels?
More action is needed to reach the UN’s 3% global average cost target. But central banks face limits on what they can do
Indonesia holds rates after stock market rout
BI opts to defend exchange rate as country records deflation for first time in 25 years
US dollar dominance: beyond the ‘exorbitant privilege’
Biagio Bossone argues that dollar ‘seigniorage’ extends into the very structure of global finance and its ‘exorbitant privilege’ is worth up to $804 billion annually
Financial market infrastructure services: Nasdaq
Nasdaq has added a monetary operations portal to its cloud-based reserves services as part of its growing integrated suite
Trump 2.0 piles pressure on reserve managers
Speakers at Central Banking Spring Meetings discuss positioning, interventions and impact of lost aid
Bank Indonesia holds rates at 5.75%
Central bank faces dilemma of whether to prioritise bolstering growth or propping up currency
IMF commends Ethiopian central bank’s reforms
Institution says NBE’s measures helped country make progress in debt restructuring talks
FX interventions ‘excessive’, says RBI’s former regional head
India’s central bank nevertheless claims its actions to prop up rupee have been effective
Finland’s hedge against FX risk ‘not motivated by US tariffs’
Central bank’s head of reserves says decision was part of regular review
Argentina secures $1 billion repo deal to boost reserves
Agreement with five unnamed international banks will be in effect until 2027
Claudio Borio joins the Central Banking Advisory Board
Economics expert and ex-BIS research head joins peers from across the globe
Madagascar’s governor on targeting M3 over inflation
Central Bank of Madagascar head Aivo Andrianarivelo speaks about introducing an interest rate corridor, diversifying from dollars to gold, using instant payments to bolster inclusion and drawing on IMF sustainability funding
Book notes: Default: the landmark court battle over Argentina’s $100 billion debt restructuring, by Gregory Makoff
Required reading amid current high sovereign debt, global tensions and the urgent need for climate finance
Brazil digs into reserves again to prop up falling currency
BCB sells almost $13 billion of reserves as investors cast doubt on government’s fiscal position
Repo and FX markets buck year-end crunch fears
Anticipations of changes to the Fed’s reverse repo programme contributed to easing balance sheet pressures
CNB’s Aleš Michl on tackling inflation, Friedman’s legacy and ditching DSGE
The Czech governor speaks about policy mistakes, targeting M2, diversifying into equities and gold, building new models and ending interest payments on minimum reserves