Reserves
Bank of Canada may be set for billions of losses
Think-tank warns losses could pose reputational risk for central bank
Egyptian currency plunges amid move to flexible exchange rate
“Heavily managed” exchange rate “has not served Egypt well”, says IMF mission chief
Argentina activates Chinese swap lines
Central bank says move will boost reserves but observer says it is unlikely to strengthen peso
Reserve Benchmarks 2022 – presentation
Reserves specialist Victor Mendez-Barreira speaks with Chris Jeffery about staffing and salaries, the inflation challenge, Bank of Russia sanctions, green investments, asset diversification, and reserve levels and liquidity lines.
Papua New Guinea flights grounded amid FX dispute
Central bank accuses fuel supply firm of failing to repatriate foreign exchange earnings
Bahamas central bank backs law change on SDRs
Governor supports move to allow finance ministry to use SDRs but opposition condemns proposal
Tunisian governor warns country needs IMF deal after latest hike
Country faces rising inflation as foreign exchange dwindles and political crisis continues
The behind-the-scenes effort to convert Ukrainian refugee cash
How central and commercial banks worked to allow Ukrainians to exchange cash in wartime
2022: The year in review
The invasion of Ukraine left central banks facing yet another exceptional set of challenges. Central Banking looks back at the stories that made the biggest impact this year
Sri Lanka cabinet approves draft of new central bank law
Measure will end CBSL role in buying government bonds
Latin American rates: Colombia adopts highest rate since 2001
Argentina holds steady again, while Nicaragua raises rates
China needs dollar reserves to bolster renminbi – Eichengreen
Authorities must reassure global markets to make renminbi reserve currency, paper argues
IMF and Ghana reach initial agreement on $3 billion loan
Stricken country preparing domestic debt restructuring
PBoC reports rise in gold reserves for first time since 2019
Analysts say the move is part of China’s ongoing efforts to diversify its vast dollar-denominated assets
The canary in the goldmine
Gold accumulation may herald broader concerns about dollar holdings, writes Jennifer Johnson-Calari
Dollarisation did not prevent monetary financing, paper finds
IMF researchers show how Ecuador created central bank money without its own currency
RCEP and renminbi’s role as a reserve currency
Will the new Asia-Pacific (Apac) economic partnership support the use of renminbi in settlement and as a reserve currency?
Renminbi in focus: diversification and internationalisation
Bank of China (Hong Kong) comments on the case study interviews conducted by Central Banking and discusses China’s GDP growth and renminbi internationalisation, the renminbi as a financing currency and its role in cross-border settlement
Armenia’s Galstyan calls for a new framework to tackle uncertainty and nonlinearities
Central Bank of Armenia governor says central banks can start to regain credibility by admitting their mistakes. This could include employing a risk-management approach to monetary policy aimed at avoiding nonlinear ‘dark corners’ and placing much less…
Namibia increases policy rate by 50bp
Central bank shadows South Africa’s hike last week to preserve currency link
Ghana hikes rates again as inflation passes 40%
Governor says country faces “huge financing gap” as government uses central bank credit
Banknotes: October to December 2022
A round-up of news and salient issues that have affected central bankers in the past three months
Bank of Canada posts first quarterly loss in its history
“We do not make policy to maximise our income,” says Macklem
Rates round-up: Pakistan adds 100bp to main rate
Central banks raise rates in Kenya, Congo and Iceland