Debt
Book notes: The rise of central banks, by Leon Wansleben
The books is at its best when the author focusses on sociological angles related to central bank economics
BoG’s Addison: Ghana agrees to end monetary financing
Governor says MoU with finance ministry “has been finalised”, and the IMF deal will come by the end of May
ECB says Hungary has infringed central bank autonomy
Frankfurt says restrictions on bond buying interfere with monetary policy
Bahamas SDR law gets parliamentary approval
Opposition claims government wants to legalise use of IMF assets after the fact
Climate change and the role for central banks
Gavin Bingham, Andrew Large and Paul Fisher explain how climate change affects central banks and the competing tensions it raises in relation to policy responses
EMEs now coping better with financial market stress – BIS paper
Authorities have tackled old vulnerabilities, but trouble is springing up elsewhere
Challenges ahead for Ueda’s easing commitment
BoJ governor’s plan to maintain monetary easing until 2% inflation is hit may not be easy, writes Sayuri Shirai
Ethiopia requests $2 billion from IMF
Talks ongoing as debt sustainability assessed, sources say
‘Back to the future’ for FX reserve management
Rise in bond yields changes the dynamics of ‘security, liquidity and return’, writes Gary Smith
Global economy will be ‘anaemic’ – IMF
Inflation falling, but central banks will only reach targets over 2024 and 2025
Kansas City Fed warns slow wage growth could spur debt problems
Subprime auto debt back above pre-pandemic levels and consumer debt at highest level ever
IMF eases Argentina loan terms
Fund approves $5.4 billion payout and lowers reserves targets as drought conditions bite
São Tomé gets loan for RTGS upgrade
Island country lacks automated system
IMF approves $15.6 billion for Ukraine
Fund calls wartime loan “unprecedented” and risky
Rates round-up: Ghana and Thailand tighten
Many central banks in Africa, Asia and Europe still raising rates, but Angola continues cuts
PBoC swap lines now key international bailout tool
Researchers say PBoC extended support worth billions of dollars to Belt and Road countries
Banknotes: January to March 2023
A round-up of news and salient issues that have affected central bankers in the past three months
PBoC leadership faces multiple challenges
Yi Gang’s staying on as governor will only ease some of the pressures, writes Hui Feng
Blanchard and Summers say higher inflation likely to persist
Veteran economists say structural factors are likely to push up neutral rate and inflation
Bolivia sells dollars to public as reserves dwindle
Analysts say central bank may not be able to defend its peg much longer
IMF raises borrowing limits amid ‘challenging’ environment
Managing director calls on members to contribute more resources
Sri Lanka central bank negotiates rate rise with IMF
Stricken country raises interest rates and taxes in bid for $2.9 billion loan
Pakistan raises rates by 300bp as default risks rise
Authorities struggle to collect taxes and unlock IMF funds
Book notes: The next age of uncertainty, by Stephen Poloz
This book provides a well-informed and well-argued view about our economic future