Exchange rate
Argentina cuts rates by 300bp to 29%
Central bank will also slow peso’s monthly devaluation rate, starting from next week
Madagascar’s governor on targeting M3 over inflation
Central Bank of Madagascar head Aivo Andrianarivelo speaks about introducing an interest rate corridor, diversifying from dollars to gold, using instant payments to bolster inclusion and drawing on IMF sustainability funding
Colombia surprises markets and slows easing cycle
Quarter point cut a “strong message” of independence by central bank, analysts say
Brazil digs into reserves again to prop up falling currency
BCB sells almost $13 billion of reserves as investors cast doubt on government’s fiscal position
CNB’s Aleš Michl on tackling inflation, Friedman’s legacy and ditching DSGE
The Czech governor speaks about policy mistakes, targeting M2, diversifying into equities and gold, building new models and ending interest payments on minimum reserves
The BoJ’s path to policy normalisation
Will the Bank of Japan be able to normalise monetary policy following its successful exit from negative rates?
Reserve Bank of Zimbabwe maintains interest rates at 35%
Central bank keeps policy tight following September devaluation and spike in inflation
Nandalal Weerasinghe on Sri Lanka’s IMF programme, central bank reforms and road to recovery
The Central Bank of Sri Lanka governor speaks about his return from retirement to aid Sri Lanka’s structural reforms and recapitalisation, reinforce central bank independence and develop financial resilience
Banknotes: October to December 2024
A round-up of news and salient issues that have affected central bankers in the past three months
The GFXC chair on the next steps for the FX global code
Global FX Committee chair Gerardo García speaks with Christopher Jeffery about updating FX best practice, improving buy-side engagement and revising settlement risk estimates in the BIS’s triennial survey
Paper offers solution to EME monetary transmission puzzles
Price and exchange rate conundrums are interconnected, authors find
Mamo Mihretu on the radical reform of central banking in Ethiopia
Ethiopian governor speaks about simultaneous monetary policy and exchange rate reform, opening the country’s financial system and a fundamental reset for Africa’s second most populous economy
Norges Bank governor explores monetary policy trade-offs
Demand channel requires greater unemployment than currency channel, Bache argues
Malaysia’s Zeti on the key skills needed to be a successful central banker
The Bank Negara veteran speaks about leadership skills, lessons from the AFC and 1MDB crises, her scepticism of inflation targeting, and how the Asia School of Business' masters synthesises theory with practical realities
Hélène Rey on cracking the code to the global financial cycle
The dollar and financial cycle move together. For the first time, economists think they know why
Book notes: The monetarists: the making of the Chicago monetary tradition, 1927-1960, by George S Tavlas
A fascinating, scholarly and sympathetic account of the Chicago monetary tradition
Alpana Killawala on communications under six governors at the RBI
The former RBI comms chief speaks about the importance of strategic communications, courting the media, open mouth operations and altering a governor’s ‘rock star’ image
Interpreting the PBoC’s slew of policy reforms
How are new stimulus measures, bond market tactics, deflationary pressures and monetary policy framework changes affecting central banking in China?
Australian indigenous nation advances with digital currency
Birri Gubba dollar to be pegged to AUD and backed by assets including carbon credits
Japanese market shock threatens to spill back to US
Sudden unwinding of carry trade could impact Fed decision-making, analysts say
Bank Indonesia holds policy rate
Central bank is focused on rupiah stability and attracting foreign capital in the short term