Ukraine
The case for restoring the role of monetary aggregates
Tim Congdon argues that a surge in money supply in response to Covid-19 sparked heightened inflation and central banks need to refocus their attention on monetary aggregates
Ukraine seeking $15 billion IMF loan, NBU governor says
Supreme court backs central bank against oligarch in bitter dispute over banking clean-up
Book notes: Harry White and the American creed, by James Boughton
This book offers a deeper understanding of the hugely influential IMF founder and his work, but fails to resolve espionage charges
Ukrainian debt holders brace for restructure
Investors could see a 40% haircut on the bonds, though final figure will depend on complex talks
Ukrainian central bank hikes rates and warns of rising financial risks
NBU says fall in yields on hryvnia-denominated assets may lead to dollarisation
ECB will hire young Ukrainian researchers
Up to 15 trainees will help evaluate impact of Russian invasion
The green agenda dilemma
Central banks face a choice over whether to support national energy independence or climate goals, amid calls from some parties for higher inflation targets
Small drop in US CPI hints at inflation reprieve
Economists estimate US is past inflation peak, but other G7 nations may still be on the upward leg
NBU restricts crypto purchases to stem capital outflows
Ukraine continues to accept bitcoin, ethereum and tether for war effort
NBU plots path out of war economy
Ukrainian central bank turns to monetary financing as government struggles to pay for war
IMF raises red flags for global growth
Fund warns of global fragmentation as it cuts growth forecast and predicts higher inflation
Chinese draft law sets up financial stability fund
New government committee would oversee financial stability as concerns grow
Is a bond market crisis imminent?
Central banks need careful action and a good dose of luck if they are to avoid financial instability
Book notes: Cogs and monsters, by Diane Coyle
Coyle brings much-needed nuance to the debate over the shortcomings of economics
Fractures in the monetary system
Seizure of Bank of Russia assets likely to have long-term implications for international system
Reserve managers weigh risks amid Ukraine crisis
Greater investment in commodity and energy-linked assets could be wise, some experts say
Risk management technology: BlackRock’s Aladdin Risk
ESG feeds into integrated position reports, customised benchmarking and robust scenario analysis assist prudent reserve management
Bank of Russia fixes gold price and increases loans
Central bank announces new emergency measures after fresh round of US sanctions
Putin demands export payments in rubles
Central bank governor Elvira Nabiullina reportedly tried to resign after invasion but was told to stay by Russian president
ECB supervision and the state of the eurozone’s banks
ECB banking supervision has passed the first stage of the Covid-19 test. But many challenges remain, including banks’ internal governance and data processing, excessive leveraged lending in some segments, and a lack of progress towards a more competitive…
Central banking in occupied Ukraine: what might happen?
How Russian authorities might deal with banking and currency in occupied Ukraine
Russia likely to default on sovereign debt
Putin and finance minister say country may make payments in rubles
Liu He intervention helps calm Chinese markets
Authorities promise easier policy as economy hit by Covid outbreak and Russia-Ukraine war
IMF says Ukraine invasion likely to cut global growth
Higher commodity and food prices will impact Sub-Saharan Africa, Latin America and Central Asia