Central Banking
Outsider arts: how Russia might adapt to sanctions
The history of the USSR and actions by other sanctioned countries may give clues to Russia’s next moves
Ukrainian governor calls for Russia to be barred from IMF funds
Senior Russian official at World Bank resigns in protest over invasion
Bank of Canada raises policy rate
Hike marks end of ultra-loose policy imposed in response to Covid-19
Eurozone inflation reaches new record high of 5.8%
Energy inflation remains main factor boosting prices, at 31.7% in February
IMF and World Bank pledge Ukraine aid
Fund considering emergency loan and World Bank assembling $3 billion package
Sberbank Europe enters insolvency
Subsidiaries in Croatia, Slovenia and Bosnia sold off as sanctions cripple Russian lender
Rethinking sovereign risk
‘Risk-free’ assets now include the possibility of complete confiscation with no recourse
Ukraine invasion raises questions for Fed policy and Latin America
Economists say some countries may benefit from higher commodity prices, but food inflation and uncertainty over Fed policy complicates the outlook
Euroclear bars rubles and Russia equities trading remains suspended
Ukraine places war bonds as unconfirmed report says Russian SWF may support equities
BoE consults on removing macro-prudential rule
Affordability test has drawbacks and may no longer be needed, given other tools, says FPC
Brazil moves forward with crypto legislation
Economic committee votes to give the central bank new regulatory powers
Norwegian oil fund to divest Russian assets
Fund held equity investments in nearly 50 Russian companies, including Sberbank and Gazprom
Kyrgyz central bank raises rates 150 basis points
Central bank cites “geopolitical risks”, though high inflation was problem long before war
Global markets show signs of strain as Russia sanctions bite
Flight to safe havens is starting to create tensions in dollar funding markets
Sanctions prevent Bank of Russia FX interventions
Governor Elvira Nabiullina says central bank has not been able to support plummeting ruble
US, EU and UK tighten sanctions as Nabiullina orders massive rate rise
Bank of Russia implements more emergency measures as currency falls sharply
Emerging economies ‘remarkably’ resilient to Fed tightening, BIS says
Many EME currencies have appreciated, but Turkish lira and Russian ruble are notable exceptions
Botswana cancels cheques
Banks will cease processing cheques from 2024
US regulators fine Pakistani state-owned bank
Central bank-owned NBP will pay more than $55 million for AML shortcomings
ECB says Sberbank Europe is close to collapse
Russian-owned bank likely to be unable to pay its debts “in the near future”, supervisors say
Western officials call for freeze of Bank of Russia’s overseas assets
Nabiullina pledges liquidity support as Bundesbank official says any central bank assets are frozen
Some Eurosystem central banks hold Bank of Russia assets, ECB says
Holdings could become significant if further sanctions directly target Russian central bank
Bank of Mexico MPC minutes stress high core inflation
Core inflation increased by 6.2% in January and has risen for 14 consecutive months
Kazakhstan orders unscheduled 325bp hike
Central banks acts under new governor as Russian invasion of Ukraine drives currency down