Central Banks
People: Natia Turnava becomes first woman to lead NBG
National Bank of Georgia names Turnava acting governor; RBI appoints deputy; and more
Currency round-up: New yen banknotes to arrive in July 2024
De La Rue outlook brightens; Egypt continues transition to polymer; and more
RBA keeps policy rate steady
Decision comes after Australia’s inflation slows in May
ECB expresses concern over draft Belgian laws
Minimum saving account rates could harm financial stability and policy transmission
Monetary policy reports usually published four times annually
Institutions from Africa tend to release fewer publications
Inflation expectations unreliable guide to policy – BoE’s Tenreyro
Policy-makers would be “unwise” to use expectations as an intermediate target, MPC member says
Singapore’s deputy prime minister to become MAS chairman
“Prime minister-in-waiting” Lawrence Wong will succeed Tharman Shanmugaratnam
Rates round-up: Colombian central bank holds at 13.25%
Dominican Republic cuts rates, while other central banks in the region stay on hold
Pan Gongsheng in line to be next PBoC governor
Analysts believe Pan’s appointment as party secretary positions him as the next PBoC governor
IMF extends food shock window despite low demand
Fund postpones end to looser caps on emergency credit
Nigerian central bank caps contactless payments
Move limits consumers’ daily contactless payments to $66
Equities look set to stay in FX reserves portfolios
Despite 2022 losses and higher bond yields, central banks maintain commitments to the risky asset class
Advanced economies most likely to survey trust and understanding
Data shows differences in how central banks judge the effectiveness of monetary policy
Largest US banks pass the Fed’s stress test
Scenario saw banks continue lending despite losses three times greater than those of 2008 crisis
Italian and Portuguese leaders criticise ECB policy
Right-wing Meloni and centre-left Costa both sound warning notes on rates
Argentina increases use of Chinese currency
Authorities repay IMF in renminbi, and allow it for local current and savings accounts
Brazil moves to adopt new targeting regime
National monetary council says it will aim for permanent inflation target from 2025
Kenya hikes 100 basis points at unplanned meeting
New governor says unexpected rise in inflation made rate increase necessary
New Zealand sets up its first deposit insurance scheme
RBNZ will run levy-funded scheme, which is set to become operational in 2024
Sri Lanka calls five-day bank holiday for loan restructuring
Plan offers domestic creditors a choice of haircuts, after IMF says authorities must act on debt
Treasury officials more likely to serve on advanced economy MPCs
Monetary policy committees or boards comprise 8.2 people on average globally
Israeli government clashes with governor over banking law
Governor says law “crosses a red line” on independence, but pushes banks to raise rates