Central Banks
Tanzania’s current account deficit more than doubles YoY
Deficit reached $3.7 billion in May, as country turns to IMF for support
Chinese authorities step in amid banking crisis in Henan
Promise to repay depositors follows violent clashes between account-holders and local security officials
Rising inflation still stalks major Latin American economies
Tighter monetary policy in Brazil, Chile and Mexico is failing to bring inflation down
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
Polish opposition pledges to dismiss central bank governor
Glapiński calls opposition leader “a liar” after he says governor was appointed against legal advice
BoE’s Woods dismisses calls to weaken Solvency II reform
Deputy governor admits matching adjustment remains a “point of contention” with industry
CPMI creates framework for linking payments
Linking and use of APIs could cut need for long chains of correspondent banks, report says
Chilean government officials dispute central bank’s currency role
Finance minister reproves official spokesperson as currency continues steep fall
Bank Indonesia may raise interest rates this quarter, says governor
Central bank’s cautious approach to tightening contrasts with global trend
Monetary policy staff pay highest in advanced economy institutions
Staff in monetary operations tend to earn slightly less than policy colleagues
Cash, not trash: the second lives of substrate
Central banks and their banknote providers are taking a range of approaches to recycling cash
FOMC ready to tighten policy further, minutes show
Members worried about inflation becoming entrenched but see some signs of pressures easing
Pakistan raises rates again as inflation climbs past 20%
IMF urges tighter fiscal policy as governor's post remains unfilled
Europe’s banks must change climate risk approach, ECB says
ECB’s first climate change stress test finds 60% of lenders lack stress-testing frameworks
BoJ to study impact of CBDC on bank deposits
Report says safeguards needed to prevent possible “rapid shift” from bank deposits to CBDC
Big tech links are ‘policy blind spot’, says FSI
Basel-based institute says tech firms are “increasingly intertwined” with financial sector
Monetary policy set a maximum of 12 times a year
Frequency of meetings highest on average in upper-middle income economies
Cash remains most common means of payment in Germany
But share of cash payments dropped from 74% in 2017 to 58% in 2021, Bundesbank finds
Bank of Uganda raises rates 100bp at unscheduled meeting
Move is second increase in as many months as governor’s post remains unfilled
Uruguay continues ‘contractionary’ monetary policy
Eighth consecutive rate hike is smallest since last November
FSB cross-border payments work hampered by data problems
Measuring progress “will not be straightforward”, working group says
Modelling the short-term economic impacts of climate change
Econometric models can give central banks a clearer picture of short-term climate impacts, says Stephen Millard