Africa
Housing markets worry high income countries’ central banks
Middle income countries point to inflation and cyber crime as sources of risk
Most central banks say cross-border cyber co-operation is good
Respondents from upper-middle income countries most likely to say co-operation could improve
Most central banks report rise in cyber attacks
Majority say they co-operate well with other agencies on cyber risks
Central bank communicators at a time of transparency
Specialists discuss the evolving roles of comms staff in the policy-making process
Most central banks say AML/CFT co-operation is good
Small minority of institutions face problems working with domestic or foreign partner agencies
High income countries’ central banks more likely to say AML/CFT risks are rising
Majority of institutions from middle income countries say money laundering risks have not risen
Central banks in high income countries less likely to want NBFI reform
But many central banks in middle income nations want regulatory changes
Bank resolutions averaged 1.8 cases in last decade – central banks
Lower-middle income countries report higher mean number of resolutions
Most central banks operate in jurisdictions with deposit guarantee schemes
Few operate their country’s DGS, and some are working to reform schemes’ design
Reserve requirements and countercyclical buffers are most common macro-pru tools
Dynamic provisioning and limits on credit growth are least-used measures
Financial stability resources are sufficient, most central banks say
Some say they need to improve access to data, training and specialist staff
Most central banks say they have enough financial stability staff
Some face problems including lack of resources, uncompetitive salaries and complex training needs
IMF’s Selassie calls for ‘pragmatism’ on exchange rates
Official challenges idea that resisting depreciation is always the best policy
Book notes: The crisis of democratic capitalism, by Martin Wolf
A sincere attempt to explain and fix the failing of capitalism in liberal democracies
Monetary policy staff numbers average below 40
European institutions and advanced economy central banks tend to have highest number of staff
Confidentiality of policy votes remains common practice
Proportion of central banks revealing voting information with a lag creeps up
Monetary policy reports usually published four times annually
Institutions from Africa tend to release fewer publications
IMF extends food shock window despite low demand
Fund postpones end to looser caps on emergency credit
Kenya hikes 100 basis points at unplanned meeting
New governor says unexpected rise in inflation made rate increase necessary
Treasury officials more likely to serve on advanced economy MPCs
Monetary policy committees or boards comprise 8.2 people on average globally
Use of asset purchase programmes for monetary policy wanes
Additional central banks end scheme, as more institutions forecast decrease
Few central banks brief fiscal authorities on monetary decisions
But practice is more common in institutions from the Americas
Corridor systems most used to set monetary policy
Floor systems less popular overall but widely used with asset purchase programmes
Debt issuance powers remain key attribute of most central banks
Proportion of non-debt issuing institutions narrows year-on-year to 6%