Central Banking
Lagarde sees risks in ‘new global map of economic relations’
ECB president says fragmentation through “friend-shoring” and regionalisation is rising
Paraguay raises interest rates by 50bp
Central bank makes ninth hike in a row as inflation reaches double digits
NBU restricts crypto purchases to stem capital outflows
Ukraine continues to accept bitcoin, ethereum and tether for war effort
Andrew Bailey acknowledges risk of ‘over-tightening’
Senior economists discuss how to avoid stagflation during a fragile moment for the global economy
RBI extends Sri Lanka swap line
Island nation defaulted amid debt, currency and balance of payment crises
New Zealand’s inflation hits 30-year high
Labour shortages also affecting many businesses
People: Chicago Fed’s Evans to retire
Bulgarian parliament rejects governor pick; political heat on Cook still high as vote nears; and more
PBoC focusing on grain and energy to stem inflation
Price stability in grain production and energy supply key to growth, says governor
UK faces possible inflation ‘ratchet’ – BoE’s Mann
MPC member says shocks to UK economy have “piled on top of each other”
Stablecoins revive US narrow banking debate
Legislators suggest simplified bank rules to regulate issuers, but Federal Reserve is cautious
Climate change, invasion, recession: policy-makers flag mounting risks
Christine Lagarde and Jerome Powell discuss “ripple effects” of war in Ukraine, while the Barbadian prime minister highlights need for reform at global institutions
NBU plots path out of war economy
Ukrainian central bank turns to monetary financing as government struggles to pay for war
Paraguay legislators clash with central bank over secrecy rules
Legislators considering changes to central bank law
BCB union suspends strike for two weeks
Brazil central bank workers reject 5% pay offer and will continue some labour protests
G20 creates fund to guard against future pandemics
WHO says there is a $10.5 billion annual funding gap
Fed’s Evans says current inflation ‘very different’ to past episodes
Inflation is following a “whale curve” and the Fed should target the body, president says
IMF panel weighs up wholesale versus retail CBDC
Officials reflect on trade-offs involved in crypto assets and new payments technology
Global spillovers not unique to US monetary policy – BoE paper
Fed and ECB both create spillovers through macroeconomic and financial channels
Nabiullina admits sanctions taking toll on Russian economy
Central bank preparing legal action in bid to unfreeze $300 billion of foreign exchange reserves
BCEAO governor becomes vice-president of Côte d’Ivoire
Ecowas president Jean-Claude Brou in line to take over as central bank governor
PBoC on hold as Fed signals steeper rate rises
Policy-makers face worsening pandemic, rising inflation and tighter global financial conditions
Do CBDCs make sense for Latin America?
Steven Kamin says CBDCs may be particularly beneficial to emerging market economies
Russia-Ukraine war revealing financial vulnerabilities – FSB’s Knot
Commodities markets, leverage and cyber attacks “warrant further attention”, says FSB chair
Climate transition set to boost inflation, finds Swedish research
Sveriges Riksbank analyses main inflationary forces stemming from climate policies