Independence
Controversial nominee joins Paraguayan board
Central bank continues tightening process with fourteenth straight hike as inflation slows
Book notes: 21st century monetary policy, by Ben S Bernanke
Bernanke’s great book offers important insights for today’s policy-makers, writes Stephen Poloz
Mongolia makes 200bp hike
Central bank has doubled rates since start of year
Paraguayan ex-governor objects to central bank board nominee
Union claims appointment of finance ministry official would damage independence
Banknotes: July to September 2022
A round-up of news and salient issues that have affected central bankers in the past three months
Bank of Mexico’s battle to restore price stability
Despite presidential attacks, former officials say a solid institutional framework preserves central bank autonomy – likely a key asset in the battle against inflation
Taking a cue from the top: governor turnover and independence
Central bank governors tend to have long tenures, but what that means can vary. High turnover remains a worrisome signal
Turkish central bank shocks with 100bp rate cut
Rogoff describes move as “nuts”, as official inflation neared 80% in July
Ecuador government will not recognise new superintendent of banks
Legislature and government clash as courts disagree on legality of appointment process
Taiwan academics call for central bank reform
Academica Sinica says the central bank could invest part of its foreign reserves into a sovereign wealth fund
How central bank mistakes after 2019 led to inflation
Central banks must acknowledge their own mistakes and outline concrete steps to restore the public’s confidence in their ability to ensure price stability, write Graeme Wheeler and Bryce Wilkinson*
The case for restoring the role of monetary aggregates
Tim Congdon argues that a surge in money supply in response to Covid-19 sparked heightened inflation and central banks need to refocus their attention on monetary aggregates
UK’s possible next prime minister promises BoE mandate change
Liz Truss says situation now “very different” to when central bank’s mandate was laid down in 1997
Turkish business chief criticises central bank as lira falls further
Governor says central bank is working to make Turkish firms use more lira-denominated assets
People: UK names veteran banker as chairman of BoE court
Appointments in Nicaragua, Cape Verde and Central African currency zone
DNB officials propose framework for central bank capital
Study offers central banks a guide to the complexities of latent risk and independence
UK government proposes ‘competitiveness’ mandate for BoE
Measure proposed despite IMF warning that it could clash with financial stability mandate
Fed faces years of losses as interest rates rise
QE brought major interest rate risk onto central bank’s balance sheet
Polish governor accuses opposition of plotting violence against him
Glapiński says Tusk could use “a mob” to remove him and says opposition has broken law
Polish opposition pledges to dismiss central bank governor
Glapiński calls opposition leader “a liar” after he says governor was appointed against legal advice
Chilean government officials dispute central bank’s currency role
Finance minister reproves official spokesperson as currency continues steep fall
Governance Benchmarks 2022 – presentation
Subject matter specialist Dan Hardie speaks with Chris Jeffery about governors, independence, funding and diversity
Legal certainty: the Achilles’ heel for CBDCs?
Many central banks lack legal certainty when it comes to issuing digital currencies, despite all the research and trials. Isn’t it time to get the lawyers involved?
Rates round-up: RBI adds 50bp to main rate
Chile announces eighth rate hike; Thai PM reveals rate hold early; and more