News
China needs dollar reserves to bolster renminbi – Eichengreen
Authorities must reassure global markets to make renminbi reserve currency, paper argues
BIS reveals winning design for new HQ tower
Second tower will be major addition to Basel skyline – if it gets the go-ahead
Prosecutors call FTX ‘one of the biggest frauds’ in US history
Sam Bankman-Fried arrested in Bahamas as US authorities file charges
Inflation falls more than expected ahead of Fed meeting
Inflation expectations also drop, prompting calls for caution from the Fed
BoE to stress-test non-bank sector for first time
“Exploratory” exercise will test market liquidity as officials call for “urgent” action on non-banks
IMF and Ghana reach initial agreement on $3 billion loan
Stricken country preparing domestic debt restructuring
PBoC reports rise in gold reserves for first time since 2019
Analysts say the move is part of China’s ongoing efforts to diversify its vast dollar-denominated assets
Nigerian central bank limits cash withdrawals
Governor says policy will increase cashless payments use and cut crime, but politicians criticise move
Rates round-up: Poland holds rates despite high inflation
Serbia and Bulgaria raise rates as double-digit inflation plagues eastern Europe
Law change set to make Fed reveal holders of master accounts
Amendment grew out of dispute between Republican senators and Kansas City Fed
Italy to allow larger cash payments despite central bank objections
Official warns move could encourage illicit activity
RBA’s Jones calls for more analysis on CBDC
Benefits need to be set against “careful consideration” of downsides, assistant governor says
Brazil and Paraguay hold rates, while Curaçao opts for rise
Inflation has almost halved in Brazil in six months since April, but board says fiscal outlook uncertain
Chile pauses rate hikes, but Peru continues tightening
Peruvian board carries on with policy meeting despite political turmoil
Bank of Canada raises rates again
Central bank notes growth is stalling and will consider if more raises are needed
Kenya central bank restores mobile money transfer fees
Move will reverse anti-Covid measure, but cut fees from 2020 rates
BSP governor issues ‘1MDB’ warning over proposed fund
Some legislators have proposed sovereign wealth fund, but critics warn it could increase corruption
Kazakhstan raises rate as Kyrgyzstan cuts
IMF criticises Kyrgyz monetary policy and failure to reform central bank law
Tight policy, T-bills and Basel III affect normalisation, say researchers
Increased use of reverse repo has implications for quantitative tightening, NY Fed study says
Ethiopian central bank orders branch reopening in conflict-affected areas
Banks must complete audits and collect non-performing loans
São Tomé appoints new central bank governor
New government replaces central bank administrative council
Fed’s climate risk guidance splits governors
Consultation on climate risk principles criticised by two Fed governors
RBA delivers another 25bp rate hike
Philip Lowe signals flexibility over further rate increases
Moldovan central bank reverses tightening cycle
Unscheduled decision marks end to long series of hikes despite rising inflation and falling currency