Independence
Time to pay policy-makers based on their performance
The remuneration framework for central bankers needs reform amid failures to hit inflation targets, argues David Bholat
Brazil makes first rate cut in cycle
Board divides 5–4 over size of reduction, with majority backing larger 50bp option
Paraguay president-elect names next central bank governor
Incoming finance minister promises to respect central bank independence
Turkish governor warns inflation is rising
Erkan says central bank will have to “take very careful steps” as president appoints new deputy governors
Book notes: Inflation targeting and central banks, by Joanna Niedźwiedzińska
A useful and rich reference source, especially for central banks moving to adopt inflation targeting
Canada opposition leader repeats promise to fire governor
Poilievre accuses government of interfering in central bank
Book notes: Forks in the road, by C Rangarajan
A memoir by one of India’s most distinguished governors, who presided over critical policy issues such as the 1990s’ balance-of-payments crisis
Brazilian central bank denies censoring board members
Dispute highlights possible political divisions as president Lula appoints officials
Book notes: O Governador, by Luis Rosa
Documents Carlos Costa’s clashes with Portugal’s elite during the eurozone sovereign debt and banking crisis
Senad Softić on governance, currency boards and EU convergence challenges
Central Bank of Bosnia and Herzegovina governor speaks about improving governance in a political vacuum, managing a currency board amid rip-sawing euro rates, resolving Gazprom’s local units, modernising payments and meeting EU convergence criteria
Should the ECB disclose governing council members’ votes?
Some former officials argue it would reduce leaks and conflicting statements, while other stress the current system allows better policy debates
Bye-bye BCRA?
An Argentine presidential candidate proposes abolishing the central bank and the peso
Uganda passes Islamic banking law
Parliament removes provision for sharia advisory council at the Bank of Uganda
Brazilian president’s nominees confirmed for central bank board
Observers speculate Galípolo may be next governor, while Santos is first Black board member
Ukraine’s governor on central banking in wartime
Andriy Pyshnyy talks about macroeconomic stability, running banks under missile attack, winning IMF aid and post-war reconstruction plans
Italian and Portuguese leaders criticise ECB policy
Right-wing Meloni and centre-left Costa both sound warning notes on rates
Israeli government clashes with governor over banking law
Governor says law “crosses a red line” on independence, but pushes banks to raise rates
RBI’s Shaktikanta Das on financial sector reform, sticking to inflation targets and the e-rupee
The Reserve Bank of India governor speaks about developing credible self-insurance and sizeable FX reserves, inter-dependence with government, non-bank and bank regulatory reforms, demonetisation, rupee internationalisation and daily UPI payments hitting…
Turkish central bank raises rates for first time since 2021
Lira falls despite tightening as finance minister promises “free foreign exchange regime”
Latin America: Brazil holds rates despite president’s attack
Chilean board also holds policy, while Costa Rica cuts after inflation goes below target
Finnish governor Rehn will run for president
Marja Nykänen will be acting governor of Bank of Finland while Tuomas Välimäki takes ECB role
BoF’s Rehn says government plans violate central bank independence
New Finnish prime minister says he will revisit policy statement
Canada suspends involvement in China-based bank
Former official says AIIB is controlled by the Chinese Communist party
Populists can pressure central banks to cut rates, paper finds
Researchers say the most populist governments can get rates lowered by 30 basis points