Central Banks
People: April to June 2023
A round-up of central bankers in the news and on the move during the past three months
Central banks need short-run climate models – BdF governor
Governments may push central banks into ineffective climate action, Sarb governor warns
Dominican Republic cuts key rate by 50bp
Central bank expects headline inflation will have returned to target in May
Bank of Mexico to maintain tight policy, minutes say
Board says it will have to keep rates at 11.25% “for an extended period”
Boston Fed paper looks at wider impact of banking stress
High levels of leverage magnify impact of bank crises on output and employment
Hong Kong legalises retail crypto trading
Licensed exchanges will be able to trade major virtual tokens to retail investors
Sudan’s warring parties attack central bank and currency printers
Military sacks governor as fighting drives up prices amid existing food shortage
More than 80% of central banks are investigating CBDC
Central banks feel negatively about retail digital currencies in their payment systems
Eurozone inflation declines sharply in May
Core inflation declines from 5.6% to 5.3%
South African central bank prepares for total power failure
Sarb working on resilience plans but warns only “some transactions” may continue
Lagarde warns against excessive tightening
Eurozone inflation declined sharply in May from 7% to 6.1% and core inflation declined to 5.3%
Chilean commission proposes broader central bank mandate
Elected councillors and experts will decide on proposal before voters decide in December
IMF economist takes on vexed question of macro-pru calibration
Housing markets are “at a turning point”, says Laura Valderrama, and policy faces tough trade-offs
Most central banks regulate or operate instant payment systems
Bank accounts, phone numbers and QR codes are most common access tools for instant payments
Common deposit insurance essential for financial stability, says ECB
Central bank says tighter financial conditions are putting pressure on households and businesses
Thailand’s central bank raises interest rate for sixth consecutive time
Central bank highlights upside risks to inflation amid economy recovery
Third-party risks are a first priority for central banks
Cyber and concentration risks crystallise co-operation between critical infrastructure providers
Most RTGS systems are more than three years old
Nearly 60% of central banks plan to upgrade their RTGS payment system in the next year
Nigerian parliament lifts central bank financing limit
Central bank has lent government tens of billions as fiscal problems mount
Sarb sounds alarm on sanctions risk
Central bank says country could face financial isolation if US thinks it arms Russia
Wuhan’s finance regulator asks hundreds of firms to repay debts
Call for repayment underscores debt troubles in Chinese regional governments amid wider slowdown
Temasek cuts staff pay over failed FTX investment
Singaporean sovereign wealth fund says investment in FTX has damaged its reputation