Central Banking
Argentine central bank struggles to meet reserves targets
IMF signs preliminary agreement for loan payment but reports say BCRA cannot meet reserve target
Lesotho appoints new central bank governor
Acting governor Mohapi will become first deputy
ECB announces 25bp rate raise and QE slowdown for July
September increase may be steeper, as ECB forecasts higher inflation and lower growth
Crypto market faces growing fragmentation – BIS paper
Crypto assets are failing to generate network effects seen in standard payments, authors find
Czech president names three new rate-setters
Some observers say appointment may create dovish majority on board
Virtual asset service provider sues Fed
Crypto firm wants “master account” but critics warn of regulatory problems
Holding the line: the right response to war and Covid
Jagjit Chadha offers advice to policy-makers struggling to navigate between economic shocks
Atlanta Fed revises growth estimate downward
This quarter has the possibility of officially beginning a US recession
CBDCs could improve energy efficiency of payments – IMF paper
Design choices could allow for greater efficiency than existing credit card infrastructure
IMF blog highlights rise of ‘non-traditional’ reserve currencies
Renminbi only accounts for a quarter of the shift away from dollars
Central banks and UN working to improve remittance data
Flows are critical income sources for many economies, but data is often limited
Rates round-up: RBI adds 50bp to main rate
Chile announces eighth rate hike; Thai PM reveals rate hold early; and more
Sovereign green bonds: the reserve portfolio’s panacea?
German, Swedish, Danish and UK debt managers speak to Victor Mendez-Barreira about ‘twin bonds’ and other efforts to solve green bond liquidity concerns
Fed paper argues capitalism killed the Phillips curve
Shift in the balance of power between capital and labour likely to hold down inflation, authors find
Fed’s Waller joins chorus of concern over crypto
Growing number of central bankers now talking about crypto regulation
People: Skingsley to head BIS Innovation Hub
New deputy governor in Philippines; BIS names new Asia-Pacific rep; and more
Eurosystem’s bond holdings may hamper market functioning – paper
Asset scarcity caused by Covid-19 emergency programme has lowered repo rates, researchers say
Reserve Bank of Australia joins 50bp club
Australian central bank continues post-pandemic tightening with second, larger hike
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
West African leaders name new central bank governor
Previous governor departed in April, leaving interim leadership unclear
Swiss central bank defends board structure
Think-tank suggested governing board was “susceptible to group think” in April report
BoJ finds some CBDC designs suffer from bottlenecks
Designs faced pressures on transaction throughput, latency and CPU load
Tougher macro-pru helps response to major storms – BdF paper
Better regulation greatly reduces costs of financing after some natural disasters, researchers find