Governance
Linah Mohohlo: 1952–2021
The first female governor of the Bank of Botswana served with “exceptional energy”, commanding fear and respect over a four-decade career at the central bank
Peru holds policy rate amid election battle
Likely winner of presidential election says he “respects autonomy” of central bank
Ailing Suriname floats its currency
Defaulting country holds debt talks as inflation and corruption take toll
El Salvador extends executive control over central bank
Changes exclude employers’ association from nominations and expand grounds for dismissal
Central Bank of Chile approves new transparency policy
New initiative based on standards of the IMF’s transparency code
DRC promises central bank reforms
Kinshasa makes pledges to IMF in return for $1.5 billion three-year loan
Many central banks have formal safeguards over firing governors
Benchmark respondents give details of how governors are appointed and dismissed
‘Run it hot’: the risks and rewards of a new policy era
Covid-19 has added impetus to an emerging intellectual shift in policy-making. But central banks face unresolved issues – on expectations, on fiscal policy, and on the capacity of the economy to ‘run hot’
Iran dismisses central bank governor
Hemmati is a presidential candidate and was told this was incompatible with governorship
RBNZ’s Orr admits ‘shortfalls’ on cyber security
But KPMG report also lays blame on vendor for delays in pushing out critical software update
Boards or committees tend to set monetary policy
Some central banks set the same monetary policies as part of supra-national institutions
Former Bank of Israel governor Klein dies
Governor oversaw transition to inflation target and sometimes clashed with government
Governments often play role in appointing boards
Boards often mix government members, central bank officials and non-execs
Formal strategy committees remain relatively rare
Boards of directors are widely used but specialist oversight committees are less common
Central bank mandates differ between advanced and emerging economies
Governance Benchmark 2021 data shows emerging economy central banks more likely to have financial stability mandate
People: Erdoğan fires deputy governor
South Korea appoints new sovereign wealth fund chief; Fed lawyer moves to OCC; and more
Leading Republican alleges Fed overreach on race
Toomey writes to regional Feds about “recent, intense interest in ‘racial justice’ activism”
Central banks take different routes to financial stability
Some give ultimate authority to governors but others use committees
Mexican president says he will not renew governor’s mandate
President questioned why central bank could not transfer executive 2020 operational profits
Governor salaries 12 times higher than GNI per capita
Salaries ranged between $33,101 and $723,551
RBI pays out second-largest dividend
Indian central bank orders $13.6 billion payment to government
Mexican president resumes attacks on central bank
AMLO calls on Banxico to disclose how reserves are handled and how much money its managers make
Former prime minister joins Romanian central bank
Former PM and ex-lawmaker who supported governor’s reappointment are hired as consultants
Governors can serve 25+ years at 40% of central banks
Governors in high and upper-middle central banks have longest possible tenures