Central Banks
IMF set for governance reform in wake of ‘Doing Business’ controversy
Board to make changes to data integrity, whistleblower protection and dispute resolution
Iran imposes restrictions on payments
Authorities cite risk of cyber attacks, but economy has also faced capital flight
Basel Committee proposes capital add-ons for crypto exposures
Committee tightens proposed rules in several areas following high-profile crypto failures
US core inflation continues decline
Headline PCE inflation flat as food and energy inflation remains buoyant
China and Hong Kong to launch derivatives trading link
HKMA chief says Swap Connect scheme will allow global investors to manage interest rate risks from bond investments on the mainland
Bangladesh Bank orders second rate hike
Central bank publishes monetary policy for 2022–23
Corridor system used by most central banks to set rates
But methods vary widely depending on policy target and tools such as quantitative easing
Guatemala hikes rates 25bp for second consecutive month
Board blames global commodity prices, as inflation breached target range in May
Colombia announces largest-ever rate increase
Central bank orders 150bp rise, while president-elect announces next finance minister
Dominican Republic orders 75bp rate rise
Core inflation still rising as central bank orders sixth rate hike in eight meetings
IMF warns Iceland over bank privatisation and housing market
Some bank investors have conflicts of interest and housing market is overheating – report
Danish central bank sceptical on retail CBDC
Report says existing payment systems offer similar benefits, but case for CBDC could change
Monetary policy and ops divisions mostly segmented
Nine in 10 institutions separate units in the Americas, Asia and Europe
US citizen pleads guilty to selling technology to Iranian central bank
Defendant faces jail after using UAE shell companies to skirt US national security law
Bank of Jamaica continues tightening cycle
MPC adds 50bp, describing May inflation drop as mainly due to “temporary effects”
G30 warns US Treasury market remains vulnerable
Group says US regulators need to do more to prevent dysfunction in the critical market
Riksbank carries out largest rate rise since 2000
Swedish central bank says chances of wage-price spiral have increased
Libyan central banks have open dispute as political climate worsens
Tripoli-based central bank denies counterpart’s claims of lack of liquidity
New Philippines governor says he may accelerate tightening
Felipe Medalla says policy rates could be raised by more than 25 basis points
Payments Benchmarks 2022 – executive summary
Key findings of the 2022 report, including the emergence of a novel digital payments landscape
