Russia-Ukraine conflict
Nigeria raises policy rate by 100bp
MPC cites external tightening and conflict as sources of rising inflation
Bank of Ghana denies rationing FX
Bloomberg made claim in June article citing swelling fuel import bills
BoE flags global risks in ‘opaque’ commodities market
LME disruption reveals “highly leveraged” participants within financial system
Riksbank carries out largest rate rise since 2000
Swedish central bank says chances of wage-price spiral have increased
Top central bankers admit inflation models fell short
Reliance on Phillips curve and demand-driven models may have created blind spots
US targets North Korean crypto hacking
Treasury seeks co-operation to better enforce sanctions on North Korea and Russia
IMF approves $4 billion payment for Argentina
Country passes first IMF review, but reserves have declined in recent weeks
Bank of Mexico orders largest-ever rate hike
Mexico matches Fed as inflation continues well above target
Zimbabwe central bank negotiates lower bread prices
Russia-Ukraine war and weak currency bring misery to southern African country
IMF chief economist says geopolitics is undermining dollar dominance
Sanctions may have triggered a reassessment of dollar assets, says Pierre-Olivier Gourinchas
Hong Kong and Taiwan raise rates
HKMA raises rates by 75bp, but local banks don’t follow, while Taiwan increases by 12.5bp
Banknotes: April to June 2022
A round-up of news and salient issues that have affected central bankers in the past three months
Russian central bank lowers rates to pre-war level
Nabiullina warns tighter oil sanctions could still have serious impact on economy
Rates round-up: RBI adds 50bp to main rate
Chile announces eighth rate hike; Thai PM reveals rate hold early; and more
Reserve Bank of Australia joins 50bp club
Australian central bank continues post-pandemic tightening with second, larger hike
Ukrainian debt holders brace for restructure
Investors could see a 40% haircut on the bonds, though final figure will depend on complex talks
Ukrainian central bank hikes rates and warns of rising financial risks
NBU says fall in yields on hryvnia-denominated assets may lead to dollarisation
Malawi devalues currency amid FX crisis
Reports say central bank has devalued kwacha by 25% as country’s exports slump
Bank of Russia cuts rates again
Central bank says inflationary pressures are falling but economy faces considerable constraints
War in Ukraine raising eurozone stability risks, says ECB
Non-bank sector vulnerable to higher interest rates, financial stability review finds
Algerian president replaces central bank governor
Saleh Eddine Taleb becomes sixth head of Bank of Algeria in as many years
Lagarde says ECB likely to abandon negative rates in September
Central bank would need to confirm end to asset purchases in June, and hike in July and September
Tackling private-sector debt in the wake of the pandemic
Navigating Covid-19 debt is more of a challenge amid gathered storms of inflation and war, write Roong Mallikamas and Benjamin Weigert
Rates round-up: South Africa, Philippines and Egypt hike
Emerging markets tighten policy amid unrelenting inflation