Foreign exchange
BIS wraps up cross-border CBDC trial
Project Mariana explored FX settlement using ‘automated market-makers’
Milei picks professor to be (last) central bank governor
Argentinian candidate picks dollarisation advocate for BCRA
Joachim Nagel on the ECB’s terminal rate, fiscal policy, model relevance and the digital euro
The Deutsche Bundesbank president speaks about compromise on the Governing Council, rolling back PEPP, the need to implement Basel III and the chances of a revised Stability and Growth Pact
Nigerian senate confirms governor and deputies
President’s nominees took over as acting officials last week after former deputy governors resigned
Bolivian reserves reaching critical levels, say experts
Central bank is depleting gold stocks to pay debt while monetary financing continues
Iraqi central bank bans use of dollar for internal transactions
Move comes as tension with US over money laundering and Iran causes growing dollar shortage
Will the use of CBDCs improve cross-border payments?
International trials using CBDCs highlight significant architectural and practical challenges, writes Warren Coats
Turkey raises policy rates for fourth consecutive time
Foreign exchange rates little changed, despite president’s commitment to tight monetary policy
IMF members will meet SDR interest payments, says paper
Fund publication notes interest rates on SDR rose sharply in last two years
Nigerian president nominates new governor after Emefiele resigns
Media reports say suspended central bank head resigned while in security service custody
PBoC cuts reserve requirement ratio but holds policy rate
Data shows some improvement in demand but continuing property sector problems
Myanmar official says Mir payments will launch in October
Central bank leader had predicted the Russian card would start circulating last year
Book notes: Bold vision, by Freddy Orchard
Largely uncritical insights about the formation of the GIC and Singapore’s currency regime
China to ease mortgage rules and cut banks’ FX reserve ratio
Moves come on top of authorities’ recent support measures for property sector and stock market
Financial Stability Benchmarks 2023 report – how central banks confront risk
Central banks discuss resources, regulating banks and non-banks, macro-pru, crime and future risk
Vietnam joins South-east Asian cross-border payment bloc
Six Asian central banks have joined forces to build faster and cheaper cross-border payments
South Korea and Indonesia hold rates
Bank Indonesia says it will issue securities in bid to bolster rupiah
PBoC bolsters support for renminbi
Central bank pledges intervention to prevent excessive currency moves
Argentine central bank intervenes after Milei win
BCRA hikes rate 2,100bp and devalues peso after central bank opponent leads primary elections
Cuba limits cash transactions and ATM access
Central bank measure provokes scepticism and concern
New Zealand government boosts central bank capital
RBNZ granted capital boost and indemnity
Pakistan launches sovereign wealth fund
Struggling country transfers $8 billion of shares in seven state companies to new SWF
Lebanon’s acting governor says he will radically change course
Wassim Mansouri pledges cuts to central bank financing and demands action from politicians
Argentine candidate promises TV exposé of ‘empty’ BCRA vaults
Bullrich says currency controls “are eating the reserves”