Central Banking
Philippine central bank will cut FX interventions, governor says
“We’ve been intervening a bit too much”, Remolona says, as officials work on new framework
Russian and Iran central banks increase co-operation
Sanctioned countries agree to use own currencies for trade as lenders set up credit line
US monetary policy drives defi credit cycles, HKMA study finds
Automatic liquidation could amplify shocks and trigger runs, author say
Inflation rises in Germany and France
German statistical office says energy price rise partly driven by base effects from earlier subsidy
BIS paper explores interaction of macro-pru and capital controls
Macro-prudential policy can “leak” at higher levels of financial development, authors find
First woman appointed as Bosnian central bank governor
Years of deadlock end after politicians agree to Jasmina Selimović’s appointment
Leaders are key to adopting technology, RBA study finds
Australian firms use GPT better if executives have tech background or are female, research says
PBoC ramps up funding support for policy banks
Biggest monthly increase for cheap loan funding in over a year likely to target property sector
Eurozone inflation affects fiscal policy, ECB paper finds
Authors say there is evidence of “turning point” for inflation’s impact on primary fiscal balances
Belgian governor gets temporary extension to time in office
Central bank council “deeply regrets” government’s failure to agree on reappointing Wunsch
HKMA proposes strict stablecoin regime
Algorithm-based stablecoins likely to be excluded under new rules, Hong Kong authorities say
Indian financial sector is resilient despite lower capital ratios – RBI
Banks pass stress tests, but RBI warns of decline in capital ratios and problems at some non-banks
MAS fines Credit Suisse S$3.9 million over misconduct
Relationship managers made false statements to clients over bond trades, says regulator
CBDCs are unlikely to be successful
Most money is already digital, and currency has lost its central function, writes former Barbados governor DeLisle Worrell
ECB paper analyses indirect channels of interbank contagion
Eurozone’s interbank market vulnerable to sovereign debt and non-bank sector shocks, research finds
Israeli governor warns over war spending after rate cut
Government could lose economic credibility without fiscal re-think, Yaron says
Memory shapes inflation expectations, study finds
People who remember high inflation also trust the central bank less, authors say
Former PBoC official jailed for 16 years for corruption
Court finds Sun Guofeng took $2.94 million in bribes and conducted inside trading
China appoints PBoC deputy governor
Authorities name more senior regulatory officials as shake-up continues
Finance ministry rep: a guest, a partner or an intruder?
Many central banks let government officials participate in policy meetings. Is that wise?
2023: The year in central banking
Central Banking’s most-read story this year dissected the crisis at SVB, while other top pieces delved into operating frameworks, third-party risks and international economics
Finma calls for more powers after Credit Suisse failure
Swiss central bank head had wanted to nationalise the failing global lender
Latvian ex-governor Rimšēvičs sentenced to six years in prison
Court finds former central bank governor guilty of taking bribes
Caucasus central banks cut rates as inflation falls
Armenia, Azerbaijan and Georgia continue gradual easing, with Armenian inflation at -0.5%