Foreign exchange
Richard Byles on Jamaica’s inflation-targeting baptism of fire
The Bank of Jamaica governor speaks with Christopher Jeffery about forex interventions, setting up digital disruptor banks and the next steps for Jam-dex
Philippine central bank will cut FX interventions, governor says
“We’ve been intervening a bit too much”, Remolona says, as officials work on new framework
Colombian central bank begins cutting rates
Board splits over decision, as inflation remains above 10% while economy slows
Argentina adopts new policy rate
BCRA will use overnight reverse repo rate after halting auctions of Leliq bonds
Ghana’s Ernest Addison on the chain of events that led to a loss of $5 billion
The Bank of Ghana governor speaks with Christopher Jeffery about what necessitated monetary financing, the boundaries of ‘independence’ and the results of offline tests of the e-cedi
Bolivia reserves shortage worsens
Fuel runs short as ex-governor says government “does not want to recognise” crisis
BCRA requires prior approval for all FX requests
Virtual freeze on exchange as Pesce and other directors make way for Milei’s picks
Indonesia and South Korea to launch cross-border settlement
Bank Indonesia has been a leader in boosting the use of local currency for cross-border trade
Myanmar lets kyat float
Central bank also reduces requisition of foreign currency as war goes badly for junta
IMF: Argentina needs ‘a strong and credible central bank’
Central bank caps banks’ FX holdings ahead of Milei inauguration on December 10
Milei confirms Santiago Bausili as BCRA pick
Appeals court recently dismissed conflict–of-interest charges against governor-designate
Kenya increases policy rate by 200bp to strengthen shilling
Governor says equilibrium rate has been ‘overshot’
Policy-making amid war in Gaza
Bank of Israel has implemented a textbook crisis response, but uncertainty remains
BCRA ex-governor Caputo will be Argentina’s economy minister
Central bank halts sales of devaluation hedge bonds
Karnit Flug on the Bank of Israel’s emergency responses and challenges ahead
The former Israeli central bank governor and current vice-president of the Israel Democracy Institute speaks with Christopher Jeffery about the BoI’s targeted emergency responses, economic uncertainties and central banking independence
The ECCB’s Timothy Antoine on currency union, cooperation and DCash 2.0
The ECCB governor speaks with Christopher Jeffery about maintaining a currency zone, addressing climate and cyber risks, the decline in correspondence banking and lessons learned from issuing a retail CBDC
IMF renews Mexico’s flexible credit line
Two-year deal provides Mexico with $35 billion in case of crisis
Nigerian central bank warns against cash panic
Central bank ends currency replacement plan as Cardoso pledges more limited role
Paper calls for Sarb to pass reserves to South African government
Report says central bank contingency account appreciated by nearly $8 billion
Malawi imposes capital controls after devaluation
Central bank devalued kwacha by 30% against US dollar last week
Crisis-stricken Israel has faith in central bank
Economists tell Central Banking the government must radically change fiscal priorities
Bank of Israel’s FX interventions reached $8.2 billion in October
Central bank approved $30 billion programme following Hamas attacks on Israel
Asian bond spreads with US not widening, BIS research finds
Central banks’ actions have decoupled EME bonds from stronger dollar, researchers say
Indonesia and Singapore renew bilateral liquidity lines
MAS and Bank Indonesia also renew bilateral repo agreement