Africa
Monetary policy set a maximum of 12 times a year
Frequency of meetings highest on average in upper-middle income economies
Monetary policy press conferences more common than minutes
High income institutions trail behind middle income banks on minutes publication
Monetary policy and ops divisions mostly segmented
Nine in 10 institutions separate units in the Americas, Asia and Europe
Covid impacting monetary policy most in middle income countries
Most central banks report shifting stance at the height of pandemic, but some have since reverted
Gender equality is key to sustainable development
Bank of Zambia deputy governor Rekha Mhango sets out the central bank’s strategy on financial inclusion
Understanding informal remittances
Better tracking of remittance flows could give central banks valuable insights to support policy, say Deepali Fernandes, Amil Aneja and Azar Sultanov
People: April to June 2022
A round-up of central bankers in the news and on the move during the past three months
High income countries have larger share of staff devoted to payments
Structure of central banks’ payments sections differs across institutions
Average RTGS system processes millions of payments yearly
Benchmarking data shows wide range of transaction volumes
Less than 10% of RTGS systems meet ISO 20022
Most non-compliant central banks plan to implement messaging protocol by 2025
People: Skingsley to head BIS Innovation Hub
New deputy governor in Philippines; BIS names new Asia-Pacific rep; and more
Central banks use many third parties for payments projects
Respondents mention various providers, with Montran the most frequently cited
Three-quarters of central banks exploring CBDCs for retail payments
Though research is common, only a few have moved to pilot or roll out the technology
Many central banks plan RTGS upgrades in coming year
Over 80% expect to renovate systems within five years
Communications Benchmarks 2022 – executive summary
Key findings of the 2022 report, including the ongoing shift to social media and the impact of Covid-19
Central bank websites vary greatly in popularity
Some get hundreds of page views per month, while others get millions
Many central banks ‘layer’ news for different audiences
Techniques include use of differing language, visual and video presentation, and data release
African central banks face serious challenges, says IMF
Report suggests short-term measures, but says central banks also need structural reforms
Lifetime achievement: Stanley Fischer
Fischer has had a profound impact on monetary economics and central banking during his prolific career
Website: Central Bank of Eswatini
The southern African central bank has made significant improvements to its website service