Foreign exchange
Central banks face loss of independence – Central Banking survey
A new survey of Central Banking’s Editorial Advisory Board points to central banks facing existential challenges with little change in their frameworks or toolkits
Argentine governor rules out defending peso ‘far from’ economic fundamentals
Sandleris reaffirms commitment to tight monetary policy to tame inflation
IMF staff praise Dominican Republic’s central bank
Policy changes increased central bank’s credibility in anchoring inflation expectations, IMF staff say
Nigerian president tells central bank to stop funding food imports
Consequences of Buhari’s order are unclear but Nigeria imports large quantities of food
Brazilian central bank will sell dollars outright for first time since 2009
Central bank says it remains committed to floating currency regime
Argentine central bank tries to halt peso’s slide
Peso falls after primary election results come as blow for President Macri
The IMF should adopt a ‘real SDR’
The creation of a vibrant market in SDR linked to commodity prices could create a powerful new monetary anchor, argues Warren Coats
China discloses FX portfolio for first time
Report shows ratio of US dollar-denominated assets declined to 58% in 2014, from 79% in 1995
PBoC to issue central bank bills to support yuan
Move could reduce liquidity of offshore yuan and deter “hot money” flows, analysts say
US Treasury designates China a currency manipulator
Renminbi crossed the barrier of seven per US dollar amid growing trade tensions on August 5
Central Bank of Nigeria holds rates and pushes for lending boost
CBN governor also announces new protectionist policy
Pakistan sharply increases rates on higher inflation
Central bank increases the policy rate by 100 basis points to 13.25%
Venezuelan opposition nominates ad hoc central bank board
Legislature aims to prevent Maduro’s regime from accessing gold and foreign currency reserves
West Africa announces ambitious new ‘eco’ currency plans
Single currency seems unlikely to be introduced by next year, despite updated launch plans
Zimbabwe relying on central bank to keep lights on
$14 million needed to keep power flowing, and debts are piling up, says energy CEO
Sovereigns increase fixed-income allocations amid volatility
Central banks intend to increase renminbi allocations and adopt ESG, survey finds
Euro internationalisation pushes ECB to rethink policy approach
Wider euro use forces policy-makers to consider ever more global factors in monetary policy analysis
Canada not looking to change exchange regime in 2021 review – Schembri
Deputy governor highlights benefits to economy since adopting regime
EU must improve capital markets to boost euro as global reserve – ECB
ECB cannot “unequivocally” say euro becoming global reserve would help monetary policy – Cœuré
Romania’s Mugur Isarescu on independence in a ‘post-truth’ world
National Bank of Romania veteran governor speaks to Christopher Jeffery about the country’s shift to a market economy, challenges in the eurozone and independence in a ‘post-truth’ world
The calm before the storm – The climate change 2019 survey
As climate-related risks to the financial sector become increasingly understood, central banks are demonstrating their willingness to develop capabilities to analyse the impact and modify their policies. A new survey indicates a watershed for central…
People: Brazil likely to replace deputy with San Francisco Fed economist
Fernanda Nechio nominated for Brazilian central bank board; two appointments in Lithuania; Sarb fills sixth board position; Guy Debelle takes on Global FX Committee chairmanship; and more
Trump administration proposes new rules to punish currency manipulators
The move would enable the US to pursue more aggressive trade policy measures
Central banks must break with short-term political cycles – Díaz de León
Mexican governor stresses independence and long-term objectives can help tackle populism