Sanctions
Banks in Kyrgyzstan suspend Mir
Operations limited in Kazakhstan, Uzbekistan, Turkey and Vietnam on threat of US sanctions
Asset sovereignty: a problem to stump Solomon
When states have rival governments, who owns central bank assets?
Belarusian president bans price increases
“God forbid someone decides to raise prices,” says Lukashenko
Ukraine: the challenges for central banks
Rules on the weaponisation of money would help to protect a ‘public good’ amid geopolitical splits in a testing environment for central banks, write Gavin Bingham, Paul Fisher and Andrew Large
Russia’s Mir forced into retreat
Banks and payment systems across Asia banish Russian cards after US warnings
US imposes sanctions on Russian governor
Treasury says Nabiullina and other officials have facilitated Russian invasion of Ukraine
Turkish central bank cuts rates despite 80% official inflation
MPC says growth rate could be slowing, and warns of pressure on current account
Hackers target Iran’s central bank website amid protests
Internet blackout reported on September 21
Mongolia makes 200bp hike
Central bank has doubled rates since start of year
Myanmar may go on money laundering blacklist, report says
Opposition calls on New York Fed to unfreeze Myanmar assets to back proposed digital currency
Iran legalises crypto for imports
Trading crypto domestically still illegal, central bank tells citizens
Bank of Russia says lenders have lost $24 billion
Central bank issues pessimistic forecast on oil earnings but says lenders are coping with sanctions
Will the dollar remain the world’s reserve currency?
Bank of Russia sanctions are unlikely to undermine the US dollar’s central role in reserve portfolios. But a relative decline in US economic weight and technological innovation are benefiting other currencies
Gontareva on Ukraine’s funding, NBU policy and reconstruction
Former NBU governor Valeria Gontareva speaks about donor funding shortfalls, NBU policy and financial stability challenges, Nabuillina and the seizing of Russian assets, and post-conflict rebuilding and modernisation
Russian banks set to use digital ruble in 2024
Cross-border integration with “friendly countries” planned to bypass Swift
Ukraine’s wartime economy faces possible crisis
Foreign donors must increase financing of Ukrainian government, NBU ex-governor and current government adviser argue
Prominent economists call on US to unfreeze Afghan reserves
Stiglitz among those calling on US to ease humanitarian crisis despite Taliban rule
Cuban regime to buy foreign currency near market rates
Move cuts peso’s dollar exchange rate by four-fifths after Cubans protest over shortages
Book notes: Harry White and the American creed, by James Boughton
This book offers a deeper understanding of the hugely influential IMF founder and his work, but fails to resolve espionage charges
US targets North Korean crypto hacking
Treasury seeks co-operation to better enforce sanctions on North Korea and Russia
IMF chief economist says geopolitics is undermining dollar dominance
Sanctions may have triggered a reassessment of dollar assets, says Pierre-Olivier Gourinchas
Filipe Dinis on Bank of Canada’s cyber strategy and tackling cyber risks
The Canadian central bank’s chief operating officer calls for heightened vigilance, more collaboration, info sharing and tabletop exercises, and less reliance on similar, siloed systems
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