Central Banking
Currency round-up: India withdraws 2,000-rupee note
De La Rue replaces chair; Canada and Philippines win currency awards; and more
Trends in reserve management 2023: survey results
Insights on inflation, asset diversification, geopolitical risk, risk management frameworks and ESG adoption
Robert Lucas, 1937–2023
Nobel Prize-winner became famous for “revolutionary” work on rational expectations
Kenyan president nominates ally as governor despite scandal
Former IMF official Thugge likely to succeed Njoroge, despite 2019 arrest over dam allegations
EME central banks must keep policies tight, says IMF deputy
Gita Gopinath says “markets are probably too optimistic” about cost of lowering inflation
HKMA launches retail CBDC pilots
Hong Kong central bank will work with 16 firms, including banks and payment companies
Bank of Mexico halts tightening cycle
Board says it will be necessary to keep rates unchanged “for an extended period”
IMF approves $3 billion for Ghana
Governor welcomes conditions, including cutting inflation and ending monetary financing
US household debt passes $17 trillion
Mortgage originations fall to lowest level since 2014
Dollar’s commodities link is creating risks, BIS paper warns
Simultaneous rises in dollar and commodities prices could harm stability, researchers say
Philippine central bank pauses tightening as inflation eases
Governor Medalla says rate rises seem to have affected domestic demand
Bolivian governor says country faces ‘liquidity crisis’
Authorities’ response to bank failure could worsen financial stress, analysts say
China’s National Financial Regulatory Administration officially opens
Veteran banker and former provincial governor Li Yunze will lead new regulator
Spillovers more widespread than previously thought – Boston Fed
Many central banks cause spillovers besides the Federal Reserve, researcher says
Taiwanese central bank opposes sovereign wealth fund proposal
Legislators propose using 10% of Taiwan’s $561 billion foreign reserves to set up a SWF
People: ECB seeks new supervision chief
Andrea Enria nears term end at SSM; Bank of Canada appoints deputy; Israel names SWF head
European Council adopts Mica regulation
Crypto legal framework covers issuers and service providers but not defi
Inflation impact of ECB tightening will peak in 2024, says research
Effect on economic activity is faster and will reach highest intensity in 2023
BoK and Samsung strengthen ties on offline CBDC research
Central bank and tech giant to look at ways to minimise security risks with offline CBDC payments
French prosecutors issue arrest warrant for Lebanese governor
Salameh condemns move and calls for Lebanon to end co-operation with European investigations
Quantitative tightening and forward guidance need rethink, say economists
Forward guidance removes options to respond to shocks, say academics and experts
BIS offers guidance on offline CBDC design
Half of central banks say offline payments are “vital” to CBDC design
Lebanese governor fails to attend French court hearing
Salameh’s lawyer calls summons “null and void” as politicians hold talks over possible successor
Argentina raises rates again
Economic stability grows more distant as elections loom