Legal
Uganda passes Islamic banking law
Parliament removes provision for sharia advisory council at the Bank of Uganda
Taiwan’s central bank calls for wage rises
Report calls for more unionisation after real wages fell in first quarter
Brazil regulators cut off loans for environmental law violators
Resolution marks change in policy from Bolsonaro era
Israeli government clashes with governor over banking law
Governor says law “crosses a red line” on independence, but pushes banks to raise rates
Book notes: Labor in the age of finance, by Sanford M Jacoby
A fascinating attempt to document the US labour movement’s efforts to use pension fund money to bolster its voice
EC proposes legal tender status for digital euro
Legislation envisages digital wallet available on- and offline, while safeguarding cash
Ex-Fed vice-chair Quarles linked to bank seeking master account
Quarles’s involvement recalls controversy over Sarah Bloom Raskin
Why fear, paranoia and distrust swirl around CBDCs
Populists and conspiracy theorists are exacerbating public concern about retail CBDCs. What can central banks do about it?
BoF’s Rehn says government plans violate central bank independence
New Finnish prime minister says he will revisit policy statement
Central banking against a full-scale war
National Bank of Ukraine governor Andriy Pyshnyy shares seven statements about ‘antifragility’ and the ability to function under uncertainty – and succeed
Costa Rica proposes strengthening central bank independence
Government wants to remove finance minister from board and change audit procedures
Populists can pressure central banks to cut rates, paper finds
Researchers say the most populist governments can get rates lowered by 30 basis points
Chilean commission proposes broader central bank mandate
Elected councillors and experts will decide on proposal before voters decide in December
OCC will target ‘persistent weaknesses’ in US banks
Updated guidance introduces tougher approach to non-compliant banks
Nigerian MPC continues tightening
Official figures show slight rise in inflation as pressure on currency continues
Kenyan president nominates ally as governor despite scandal
Former IMF official Thugge likely to succeed Njoroge, despite 2019 arrest over dam allegations
Fed’s Bowman defends regulatory ‘tailoring’
Governor calls for independent review of SVB collapse, dismissing Barr report
Florida adopts anti-CBDC law
Governor has denounced US digital currency, though there are no concrete plans for one
ECB says Hungary has infringed central bank autonomy
Frankfurt says restrictions on bond buying interfere with monetary policy
Bahamas SDR law gets parliamentary approval
Opposition claims government wants to legalise use of IMF assets after the fact
Climate change and the role for central banks
Gavin Bingham, Andrew Large and Paul Fisher explain how climate change affects central banks and the competing tensions it raises in relation to policy responses
Belize to create AML/CFT exception to central bank confidentiality
Proposed law would also require rules against conflicts of interest
Chile governor warns committee against adding mandates
Debate over central bank role continues in Chile’s second attempt at new constitution
Monetary policy can matter in poor countries – IMF paper
Study suggests changes to money supply may have impact through exchange rate