Monetary policy
BoK pauses again as inflation slows
Governor Rhee Chang-yong warns against expectations of a rate cut this year
Central bankers cast doubt on utility of CBDC
“Element of Fomo” drives projects on even when purpose is unclear and resources lacking
RBI pauses to assess effects of rate increases
Surprise decision comes as inflation remains outside the central bank’s target band
People: First governor of Congo central bank dies aged 92
Deputy governors depart in Canada and Sweden; and more
Geopolitical risks set to fuel financial instability, IMF says
Report urges supervisors to integrate this factor into their stress tests
Kansas City Fed warns slow wage growth could spur debt problems
Subprime auto debt back above pre-pandemic levels and consumer debt at highest level ever
SBP raises rate 100bp amid balance of payments ‘stress’
Inflation continues climb while reserves remain at critically low levels
RBNZ surprises with 50bp rate hike
Damage from cyclone threatens to keep inflation expectations higher
Rates round-up: Mexico and Colombia slow tightening
Guatemala also tightens with 25bp hike; Chile and Dominican Republic continue pauses
Opec+ production cut threatens inflation outlook
Higher energy prices were the main factor boosting inflation in 2022
State Bank of Vietnam cuts interest rate
Central bank says Vietnam’s economic growth has faced difficulties
RBA pauses rate hikes as inflation slows
Central bank board has not ruled out further tightening
Bank of Israel warns political turmoil could hit GDP
Central bank slows cycle with 25bp hike, raising key rate to 4.5%
IMF approves $15.6 billion for Ukraine
Fund calls wartime loan “unprecedented” and risky
BIS paper warns of worsening fiscal and monetary trade-offs
Many governments have sought to shield consumers from price rises, at a high budgetary cost
A troubling trilemma
Central banks need to tread a fine line as they serve as the economy’s police, fire brigade and paramedics
Uruguay’s government will recapitalise central bank
Economist says BCU failed to hedge against exchange rate risks
Rates round-up: Ghana and Thailand tighten
Many central banks in Africa, Asia and Europe still raising rates, but Angola continues cuts
Fed’s Bullard revises rate projection upward
Policy-maker says bank stress likely to fade but inflation fight continues
Banknotes: January to March 2023
A round-up of news and salient issues that have affected central bankers in the past three months
CAR to drop crypto as legal tender
Country bows to pressure from partners in regional monetary union
Riksbank governor stresses Swedish banks’ strength
Thedéen says “inflation needs to come down significantly” in 2023
Nigeria and Morocco raise rates
Inflation hits record level in Morocco and remains high in Nigeria
Norway and Iceland raise rates as inflation stays high
Iceland’s governor warns of wage-price spiral and says economy is overheating