Central Banks
Emerging economies ‘remarkably’ resilient to Fed tightening, BIS says
Many EME currencies have appreciated, but Turkish lira and Russian ruble are notable exceptions
Botswana cancels cheques
Banks will cease processing cheques from 2024
ECB says Sberbank Europe is close to collapse
Russian-owned bank likely to be unable to pay its debts “in the near future”, supervisors say
Western officials call for freeze of Bank of Russia’s overseas assets
Nabiullina pledges liquidity support as Bundesbank official says any central bank assets are frozen
Some Eurosystem central banks hold Bank of Russia assets, ECB says
Holdings could become significant if further sanctions directly target Russian central bank
Bank of Mexico MPC minutes stress high core inflation
Core inflation increased by 6.2% in January and has risen for 14 consecutive months
Kazakhstan orders unscheduled 325bp hike
Central banks acts under new governor as Russian invasion of Ukraine drives currency down
BIS paper estimates slack in Mexico’s informal labour market
Calculating Nairu is challenging given large unregulated sector, authors say
BIS targets green bond growth with launch of Asian fund
“We expect a fast-growing market for green bonds,” says BIS banking head Peter Zöllner
Poland offers Ukraine swap line as NBU suspends FX transactions
Central bank says payments system is working well but tells citizens to minimise cash use
Russian central bank announces string of emergency measures
Bank of Russia announces liquidity support, FX interventions and changes to capital ratings
People: Canadian deputy governor retires
Ghanaian deputy governor gets second term; IMF statistics director steps down, and more
Banks still falling short of final Basel III requirements
Basel Committee says some metrics seem to have been impacted by Covid-19
How supervisors can step up the AML fight
Marcus Pleyer, president of the Financial Action Task Force, says digital tools, stronger co‑operation and risk-based methods can give supervisors an edge. But threats are still proliferating
Fed officials debate risks of a ‘hot economy’
Academics and policy-makers weigh up whether economy is now overheating
US announces initial financial sanctions on Russia
Biden administration bars secondary market bond transactions, but expert says impact likely to be limited
RBA preparing changes to open market operations
Assistant governor says reforms needed as liquidity and monetary policy evolves
RBNZ increases policy rate to 1%
Committee debated the possibility of increasing rates by 50bp
Paraguay continues slower tightening as inflation rebounds
MPC orders second 25bp hike, after 450bp in increases in late 2021
Bailey seeks to clarify controversial comments on wage restraint
BoE governor says firms need to curb price rises to limit impact on poorest households
UK sanctions on Russia target five smaller banks
EU and US yet to announce detailed measures as expert calls possible Biden measures “weak”
Riksbank minutes confirm board division on normalisation
Three out of six board members voted to accelerate end of net asset purchases