Foreign exchange
Turkish central bank announces $10 billion one-day profit
Move follows president’s pledge on dollar deposits amid evidence of worsening economic crisis
IMF finds Argentina bailout ‘did not deliver on its objectives’
Largest-ever IMF loan was ineffective and “not sufficiently robust”
GFXC names SNB’s Maechler as new chair
Swiss central banker succeeds Guy Debelle
Turkish lira rises as central bank launches ‘incentive’ scheme
Selling pressure eases as new facility unveiled, but outlook remains uncertain
Central bank social media trends in the ‘Instagram age’
Uptake of visual social media platforms rises, as Facebook usage plateaus
Turkey’s currency hits new low after further rate cut
CBRT says it is intervening on foreign exchange markets as Erdoğan raises minimum wage
Myanmar and China to use renminbi for cross-border trade
Reports indicate that authorities will pilot settling small-scale trade transactions in yuan
Brazilian Senate passes new FX law
Central bank will regulate foreign currency accounts under law now on president’s desk
Armenia raises policy rate 50 basis points
Central bank tightens grip on credit with seventh rate hike in 12 months
BdF paper looks at use of capital controls and foreign reserves
Many countries combine both to moderate effects of international capital flows
Alternative data fuels central bank research
Important research areas include monetary transmission, exchange rates, digitisation, SMEs and climate change, against the backdrop of Covid
BEAC raises interest rates
Central African states’ shared central bank imposes first hike in three years
Tackling surging inflation
Central banks around the world are grappling with rapid price rises, with some taking very different routes to one another
How Turkey’s president created chaos in economic policy-making
Observers allege presidential domination of the central bank, unauthorised FX transactions and untrustworthy statistics
IMF mission worried about Mongolian central bank
Bank of Mongolia’s operational independence has been compromised, says fund
Argentine central bank orders foreign exchange sales
BCRA also bans “payments in instalments” for overseas travel as currency weakens
Bank of Tanzania ‘working on CBDC’, governor says
Luoga says “cryptocurrencies are not safe” and president has urged work on CBDC
Sri Lankan central bank holds rates despite rising inflation
Authorities face FX crisis as prices increase at fastest level in four years
Protecting international standard-setting despite the resurgence of politics
Andreas Dombret, global senior adviser, and Oliver Wünsch, partner, at Oliver Wyman, describe the importance of international standard-setting amid increasing political interference.
Turkish currency hits new low as central bank cuts rates again
Move follows Erdoğan’s dismissal of two deputy governors and one MPC member
Finding room for ESG
Central Banking speaks to four policy-makers for their thoughts on ESG principles, their respective institutions’ approaches, potential restrictions and an update on integration.
Sri Lankan central bank takes emergency measures as FX crisis deepens
Central bank will securitise remittances to fund reserves, but statement hints at steep fall in inflows
UK and China renew bilateral swap line
350 billion yuan swap line extended for a further five years
ESG reserves adoption challenged by reliance on sovereign bonds
Higher issuance of government-compliant bonds is insufficient to offer investable alternatives to central banks.