Foreign exchange
Economics in central banking: ‘Patterns in invoicing currency in global trade’, Emine Boz, Camila Casas, Georgios Georgiadis, Gita Gopinath, Helena Le Mezo, Arnaud Mehl and Tra Nguyen
An extensive data-gathering exercise allowed the authors to shed new light on critical aspects of policy-making in a globalised world, while clearing a path for other researchers to follow
Turkish president fires third central bank governor in a row
Former politician becomes governor days after MPC raises rates; lira falls sharply
Central Banking Awards 2021: third round of winners revealed
Awards go to central banks and market practitioners for payments, market infrastructure and currency
Lifetime achievement: Charles Goodhart
The LSE and BoE veteran economist has his own ‘law’, and played a key role in the establishment of monetary policy in the UK, Hong Kong’s peg and the ‘New Zealand model’, which influenced a generation of central bankers
Reserve manager of the year: Bank Indonesia
The Asian central bank stabilised the rupiah’s fall during the Covid-19 pandemic in large part due to its new macro-factor strategic asset allocation framework
Taiwan governor optimistic over US currency dispute
Yang says country meets ‘currency manipulator’ criteria but adds he does not expect sanctions
Israeli reserves surge to new record high of $185 billion
International reserves portfolio reaches 46% of GDP
Brazil ramps up FX interventions to defend real
Governor Campos Neto says fall “is not justified by fundamentals”
Corporate Services Benchmarks 2021 report – trends in financial reporting and administration
Insights on staffing and salaries, technological automation, data security, rule compliance, gender equality and green office spaces in accounting, audit, HR and administration
Sudanese central bank changes currency regime
Central bank cuts official exchange rate sharply after years of major over-valuation
BIS and central banks partner to create CBDC ‘bridge’
Cross-border project will link up digital currencies of China, Hong Kong, Thailand and the UAE
SNB should adopt higher inflation target, report says
Senior economists recommend the Swiss National Bank reviews its policy strategy
Book notes: Asset management at central banks and monetary authorities, edited by Jacob Bjorheim
This excellent book fills a critical gap existing since IMF guidelines on asset management were revised
The changing data landscape: Part 2
Central Banking speaks to Philip Abradu-Otoo, Juan José Ospina and Howard Chang about whether there is a need to change underlying infrastructure to bolster data-driven policy-making
Book notes: The political economy of the special relationship, by Jeremy Green
Unsatisfactory story about the decline and resurgence of the UK’s importance in the global financial system
IMF encourages Bahamas central bank to launch asset registry
Recent initiatives to manage credit have been hampered by bottlenecks, IMF report says
Israeli reserves “well beyond adequacy” – IMF
Fund calls on Bank of Israel to cease FX purchases once inflation returns to target
Mexican president seems to make U-turn on central bank law
Bank of Mexico says draft cash law would endanger its independence
Central banks must mobilise their FX reserves
The pandemic and climate crises call for bold action, write Gary Smith and John Nugée
Bank of Israel announces major increase in FX interventions
Central bank announces FX spend in advance for first time and pledges 40% increase
Chile’s central bank to boost reserves by over 30%
CBC will purchase $12 billion to bring reserves to 18% of GDP before IMF credit line ends
PBoC eases cross-border yuan settlement policy
Central bank promotes use of yuan in cross-border settlement and financing
Thai central bank relaxes FX rules to curb currency’s strength
Central bank says it is considering further liberalisations to currency regime
Guy Debelle on the future of the FX Global Code
Code’s creators considering updates to sections on last look and pre-hedging