Independence
Book notes: The great demographic reversal, by Charles Goodhart and Manoj Pradhan
An important book, predicting that powerful demographic forces will upend conventional thinking on macroeconomics and policy
Turkish finance minister quits after president fires governor
Finance minister resigns before new governor signals he will consider raising policy rates
Riksbank governor criticises proposed central bank law
Lawmakers’ proposal would damage ability to deal with crises and reduce independence – Ingves
Brazilian Senate passes bill increasing central bank independence
Legislation still needs to be approved by the lower chamber of Congress
Colombia’s governor to leave central bank in December
Departure could open door to Ana Fernanda Maiguashca as first female governor
Barbados governor hits back at AML ‘blacklisting’
Action by EU is “pernicious” amid pandemic and IMF programme, says Cleviston Haynes
South Sudan president fires governor again
President has now fired four governors and eight finance ministers, as multiple crises continue
Tunisian central bank forces state to cut spending plans
Prime minister abandons plan to widen deficit to 14% of GDP after governor refuses to finance it
Ukrainian deputy governor publicly criticises central bank
Governor effectively takes responsibility for banking supervision away from leading reformer
Georgia’s Gvenetadze on implementing an aggressive reform agenda
The National Bank of Georgia governor speaks about efforts to improve monetary policy, financial infrastructure, financial literacy, transparency and ESG
Turkish central bank holds rates despite currency’s slide
MPC attempts indirect tightening again as expert claims official figures hide true inflation rate
Canadian opposition says central bank ‘must not become government ATM’
Bank of Canada to end some emergency financing programmes as lawmaker calls more QE “insane”
Lawmakers propose reducing Bank Indonesia’s independence
Proposed law change could see finance minister sitting on rate-setting committee
Book notes: Money, by Geoffrey Ingham
The incompatible theories of money: Ingham reveals the fundamental clash of ideas that shape the environment in which all central banks operate
Carstens warns QE strengthens ‘fiscal-monetary nexus’
BIS chief warns central banks over using up “credibility capital” by their Covid-9 responses
Ukrainian governor denies wanting to force deputies out
Shevchenko says reprimand was over communications, but observers warn of political pressure
New Zambian governor appointed after Kalyalya dismissed
IMF takes unusual step of issuing statement in support of central bank independence
Ukrainian central bank council reprimands deputy governors
Vote puts pressure on Rozhkova and Sologub to quit central bank in latest move against reformers
ECB open to above-target inflation – Lagarde
President lays out strategy review goals, hinting approach could bring ECB closer to the Fed
Turkish central bank raises rates unexpectedly
President Erdoğan dismissed previous governor for tightening monetary policy
Mauritius governor defends central bank’s funding of government
“Unprecedented times” require “unprecedented set of measures” including $1.5bn funding of government, says Harvesh Seegolam
Nigerian president tells central bank to change forex policy
Central bank defends industrial subsidies and says border has been closed to prevent smuggling
Emerging markets act as standard bearers for tranching
Nearly two-thirds of reserve managers tranche; largest allocations made to investment tranche
Book notes: Quest for restoring financial stability in India, by Viral Acharya
A definitive contribution to the political economy of central banking in emerging economies, but Acharya does not acknowledge the challenges moving forward