Cash
BoE outlines plan to adapt to drop in cash volumes
Legislation will give regulators stronger powers to intervene in wholesale cash market
Italy to allow larger cash payments despite central bank objections
Official warns move could encourage illicit activity
Ethiopian central bank orders branch reopening in conflict-affected areas
Banks must complete audits and collect non-performing loans
Chile’s Costa on tackling inflation, forex interventions and nowcasting
The Central Bank of Chile governor speaks about stubbornly high prices, Fed policy spillovers, reserve buffers, retail CBDC and the need to address unconscious bias
Currency round-up: BEAC to launch new banknote series
Afghanistan permitted to import new notes; Canada shortlists banknote figures; and more
Nigerian governor says new banknotes will lessen cash hoarding
Governor says 85% of notes are outside banking system as finance minister criticises move
Liquidity dependence may hamper QE exit
Expanding reserves may prove perilous for financial stability, with maximum danger during QT, writes Viral Acharya
Should a CBDC really be like cash?
Electronic and physical cash are fundamentally different and must be treated as such, writes Dave Birch
Central banks have fewer cash distribution centres on average
However, some have added processing facilities in last five years
SNB withdraws record sum from Fed’s swap line
Swiss central bank taps $11 billion but reasons for its operations are unclear
Demand for cash in turbulent times
Antti Heinonen analyses trends in cash use as Covid fades, but new shocks take its place
CBDC, cash and fast payments: the view from the IMF meetings
Digital currency and fast payments present ample opportunity for improvements, say policy-makers
Ukraine: the challenges for central banks
Rules on the weaponisation of money would help to protect a ‘public good’ amid geopolitical splits in a testing environment for central banks, write Gavin Bingham, Paul Fisher and Andrew Large
Digital dollar could reduce unbanked in US by 93% – Dallas Fed paper
Inclusion need not come at the cost of disintermediation, researchers find
IMF says it will not provide loans for Zimbabwe
Fund urges central bank to cease “quasi-fiscal operations” as official inflation reaches 285%
Is there a case for a retail CBDC in Japan?
A BoJ-managed, account-ledger ‘digital yen’ tied to the new Kotora payments may offer some potential
ECB raises rates on government deposits to ease transition
Governments should make “alternative arrangements”, ECB says, after pandemic saw deposits rise
Morocco’s Jouahri on inflation, forex reform, digitalisation and sustainability
The Central Bank of Morocco governor speaks with Christopher Jeffery about Covid-19 policies, Fed tightening, BIS membership, regional co-operation and financial inclusion
Banknotes: July to September 2022
A round-up of news and salient issues that have affected central bankers in the past three months
Gontareva on Ukraine’s funding, NBU policy and reconstruction
Former NBU governor Valeria Gontareva speaks about donor funding shortfalls, NBU policy and financial stability challenges, Nabuillina and the seizing of Russian assets, and post-conflict rebuilding and modernisation
Central banks weighing up CBDC offline alternatives
Institutions are testing ways of allowing digital payments without the internet
CBDC launch still on the table, BoJ says
Senior official dismisses media reports on cancellation of CBDC plans
Banknotes round-up: Egypt debuts polymer note
Peru continues rollout of new series; Mexico to withdraw 20 peso note; and more