Foreign exchange
BoJ mulled rate hike at March meeting if Iran war dragged on
Minutes show many board members cautioned against monetary response to energy shock
Japan suspected to have intervened again after yen jumps
Experts say currency would not automatically lose free-floating status with further FX interventions
Romania spends €2.1bn to stabilise leu as government falls
Central bank’s reserves went from €67bn in March to €64.9bn in April
RBA tightens again as Iran war pushes up inflation
Price shocks caused by conflict have made all Australians poorer, governor says
Solomon Islands governor calls for reduced reliance on mining
Luke Forau urges greater focus on boosting agriculture and tourism sectors
BoJ holds rates and halves growth forecast
Three dissenting votes mark largest split under Ueda, who points to ‘significantly’ higher inflation
Libya launches $1bn cash sale to citizens
Central bank attempts to reduce demand for US currency in parallel economy and stabilise dinar
Schlegel suggests SNB prefers FX interventions to negative rates
President says central bank will adjust policy ‘if necessary’
RBI optimistic on India’s ability to withstand Iran war impacts
Central bank cites strong economic fundamentals, though warns inflation could rise
Indonesia holds policy as rupiah stabilisation efforts continue
BI says impact of Middle East conflict continues to affect currency’s value
Pakistan central bank seeks to reassure international investors
Governor says country in better position to weather shocks than before Ukraine war
Argentina reaches IMF deal unlocking $1bn
Fund says government policies will help country access capital markets on more favourable terms
China increases lending limits for foreign banks
PBoC says move will create lending framework that prioritises renminbi
NBE governor: reforms have reorientated Ethiopian economy
Country has been shifting towards a market-based system, with support from IMF
BoK, RBNZ, SNB and Spain to ‘wait and see’ on Iran war
Governors say policy should consider longer-term price effects of Middle East conflict
Asean pledges deeper integration in face of Middle East uncertainty
Bloc’s finance ministers and central bank governors highlight increased geopolitical risks
Sama’s Al-Sayari on financial resilience and the future of the riyal
The Saudi Central Bank governor speaks with Christopher Jeffery about the Middle East conflict, the transformation of the Saudi economy, improving prudential oversight and contingency planning, and the development of the fintech and tokenised ecosystem
Supply-side shock stuns central banks
The partial closure of the Strait of Hormuz raises fresh challenges for central bank policy-makers
RBI battles to shore up rupee as currency hits all-time lows
Central bank deploys directive against lenders after FX reserves fall below $700bn
Stablecoin demand transmits to FX markets – BIS paper
Inflows into digital assets make acquiring dollars via swap markets more expensive, authors find
As new gauge puts CPI above 2%, is BoJ prepping for a hike?
Revised data shows price growth at a level the bank said would trigger tightening
YCC, carry trades and the changing role of the yen
Marcello Minenna argues that as the BoJ adjusts its policy regime, changes in carry positioning are increasing the instability of the correlation between exchange rates and yield differentials
Economists expect BoK to tilt hawkish under Shin
Expert says new governor to bring ‘distinctly BIS-influenced framework’ to South Korean central bank
Hyun Song Shin nominated as Bank of Korea governor
BIS’s former top economist says he will helm central bank at ‘critical juncture’