Central Banks
The always imminent demise of the global dollar
Creating effective alternatives will remain long and arduous despite China’s development of Cips, the mCBDC bridge and any oil-price redenomination, writes Barry Eichengreen
Fed presidents in chorus for smaller rate hikes
Harker, Daly, Collins and the departing Evans all signal preference for 25bp in February
Bank of Canada may be set for billions of losses
Think-tank warns losses could pose reputational risk for central bank
Sri Lankan IMF deal blocked by debt problems, governor says
Bailout package needs agreement on Chinese and Indian loans, Weerasinghe says
Bank of Korea raises policy rate to 14-year high
Two central bank board members voted to hold the rate steady
Peru raises rates for 18th consecutive month
Inflation remains stubbornly high, but central bank is optimistic it will fall in 2023
Cyber security topples reputational risk as first concern
Overall, close to 39% of institutions place cyber as their top concern, 20% select reputational factors
European judges seek to question Lebanese governor
German and French investigators want to speak to Salameh over money-laundering allegations
US CPI inflation falls again
Falling fuel prices drive down index for sixth straight month
Zambian central bank needs more safeguards, IMF says
Fund says central bank’s independence is still under threat despite reforms
Brazil’s central bank reassures public that Pix is free
Online rumours claimed payments system would start charging consumers and firms
BoE completes unwind of gilt market intervention
“Financial stability portfolio” took a month and a half to wind down, as QT continues
Bank of Thailand to open virtual banking applications
Virtual banks should open in 2025 and come under same regulatory regime as existing lenders
Market and personnel become key rising risks for central banks
Over 47% of institutions highlight one of these two factors as the fastest-growing risk
Bank of Russia restarts open FX trading to support ruble
Ruble will trade openly against yuan as Russian dependence on Chinese markets appears to grow
Egyptian currency plunges amid move to flexible exchange rate
“Heavily managed” exchange rate “has not served Egypt well”, says IMF mission chief
BoE’s Pill says UK vulnerable to inflation persistence
Confluence of factors leaves UK in worse position than others, chief economist says
BSP governor signals smaller rate hike likely next month
Governor Felipe Medalla says pressure from US monetary policy has declined
Romania may be at end of tightening cycle
Inflation resumed upward march in November, but major bank says cycle has ended