Exchange rate
Did the Riksbank abandon negative rates too soon?
In January, a key inflation measure dropped sharply. Policy-makers face difficult choices if inflation does not recover
Do low rates spur investment?
Many believe low interest rates spur investment, but there appears to be little hard evidence to support such claims, writes former IMF head Jacques de Larosière
Why Bulgaria needs to deepen its currency board
The BNB’s currency board rules should be extended to transaction deposits at commercial banks, which could in turn issue digital currencies, even in the event of euro adoption
Mauritius government replaces central bank governor
Reports say government dismissed governor and second deputy as currency falls
Competitive devaluation would harm US, Brookings paper warns
Trump’s calls to devalue currency would have damaging effects if followed, researchers say
Shelton gets little respite in Fed nomination hearing
Lawmakers unimpressed by her previous remarks and poor attendance record at EBRD meetings
Coronavirus contagion risk prompts central bank action
Asian central banks deploy contingency plans and tell banks to minimise risk of virus spread
Bulgaria: long live the currency board
Bulgaria should reject the euro and extend its currency board to cover bank deposits
Sudanese government fires central bank board
Recently-appointed governor remains in post as new regime confronts economic crisis
Central Banking Awards 2020: the winners
All the winners in the 2020 Central Banking Awards
Lifetime achievement award: Otmar Issing
The architect of the euro’s monetary operating framework is still playing an important role in shaping the debate on monetary policy
Communications initiative: Bank of Jamaica
The Bank of Jamaica broke the mould with its reggae-inspired communications strategy, but observers suggest it has done more than just lift the economic literacy of its society
Thailand cuts rates as coronavirus threatens growth prospects
Central bank lowers interest rates 25bp on concerns outbreak will hamper prices and tourist revenues; Asia-Pacific countries face strongest impact from the virus
Central bank of the year: Bank of Ghana
The African central bank has carried out extensive reform of Ghana’s banking sector
Chilean central bank holds rates, citing uncertain outlook
Central bank warns of impact of fall in demand for Chile’s major export as mass protests continue
Argentinian central bank willing to finance external debt
Institution commits to maintain positive real interest rates in order to foster price stability
Lesotho cuts interest rates to 6.25%
Central bank reduces rates and lowers reserves target on back of weaker domestic outlook
Bank Negara Malaysia surprises market with ‘pre-emptive’ rate cut
Analyst believes move signals end to “brief easing cycle”
Iceland boosts reserves despite volatility in 2019
Central bank carried out forex interventions to offset the “abrupt weakening” of the króna
Chile unexpectedly halts forex interventions
In December, interventions helped peso appreciate, but it has resumed downward trend
Bank of Thailand grapples with baht appreciation
Central bank has relaxed forex regulations and cut rates as baht hits six-year high
Patterns of exchange rate pass-through are changing – RBI paper
Pass-through in emerging markets is non-linear, asymmetric and falling, authors find
West Africa launches new currency in break with France
New ‘eco’ currency will still be pegged to the euro, but France will have less involvement in the affairs of the West African Economic and Monetary Union
Network effects magnify impact of US monetary policy – BdF paper
Researchers find that impact of US monetary policy is increased by complex cross-border interactions