Reserves
Thugge confirmed as next Kenya governor
President’s adviser gets parliamentary approval and calls for dollar bonds to boost reserves
Central banks’ pandemic interventions averaged 6% of GDP
IMF paper finds relief measures were three times bigger than in global financial crisis
Argentina applying to join New Development Bank
China renews 130 billion yuan swap line with Latin American country
Sarb sounds alarm on sanctions risk
Central bank says country could face financial isolation if US thinks it arms Russia
Turkish lira hits record lows despite FX from Gulf states
Erdoğan says he is grateful to allies but central bank reserves fall to lowest level in over 20 years
Nigerian MPC continues tightening
Official figures show slight rise in inflation as pressure on currency continues
Iceland raises rates 125bp to head off ‘wage-price spiral’
MPC orders largest increase in two-year tightening cycle as inflation remains near 10%
Trends in reserve management 2023: survey results
Insights on inflation, asset diversification, geopolitical risk, risk management frameworks and ESG adoption
Kenyan president nominates ally as governor despite scandal
Former IMF official Thugge likely to succeed Njoroge, despite 2019 arrest over dam allegations
IMF approves $3 billion for Ghana
Governor welcomes conditions, including cutting inflation and ending monetary financing
Bolivian governor says country faces ‘liquidity crisis’
Authorities’ response to bank failure could worsen financial stress, analysts say
Book notes: The Federal Reserve: a new history, by Robert L Hetzel
This book should become the standard reference for scholars
Taiwanese central bank opposes sovereign wealth fund proposal
Legislators propose using 10% of Taiwan’s $561 billion foreign reserves to set up a SWF
Argentina raises rates again
Economic stability grows more distant as elections loom
The allure of private markets
SWFs have piled into the asset class while reserve managers remain wary, writes Blake Evans-Pritchard
BoG’s Addison: Ghana agrees to end monetary financing
Governor says MoU with finance ministry “has been finalised”, and the IMF deal will come by the end of May
Central bank negative equity: a risk governance perspective
Janet Cosier explains how risk planning, recapitalisation and transparency are key as central banks incur financial losses
Argentina orders 1,000bp rate hike as peso struggles
Central bank tightens for second time in a week
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
Higher inflation and rates will not reverse asset diversification
Most reserve managers expect diversification will continue, whether unchanged, accelerated or at a slower pace
Above-target inflation main risk for reserve managers
Central banks rank geopolitical tensions as the second most pressing risk in 2023
Uruguay cuts rates citing ‘gradual decrease in inflation’
Country becomes second in Latin America to start unwinding rate rises
EU concludes authorities cannot seize Russian assets
Brussels says Europe may be able to invest assets and use extra profits to aid Ukraine