Reserves
Nepal hikes rates and constricts credit
Himalayan country confronts rising inflation and strained reserves
Bank of Ghana denies rationing FX
Bloomberg made claim in June article citing swelling fuel import bills
Myanmar orders halt to foreign debt payments
Authorities order wider range of partly foreign-owned companies to sell FX to central bank
Chilean central bank pledges to sell up to $25 billion to defend peso
Currency plummets by 4% to new record low against US dollar following 75bp rate hike
Pakistan raises rates again as inflation climbs past 20%
IMF urges tighter fiscal policy as governor's post remains unfilled
Asian central banks deploy FX reserves to prop up currencies
Analysts remain confident in Asia’s financial stability, but recession risks are building
Corridor system used by most central banks to set rates
But methods vary widely depending on policy target and tools such as quantitative easing
IMF approves $4 billion payment for Argentina
Country passes first IMF review, but reserves have declined in recent weeks
China loans Pakistan central bank $2.3 billion
Ailing country in talks with IMF as foreign exchange shortage crimps fuel purchases
PBoC launches renminbi reserve pool with BIS
Equivalent of $13.5 billion will be pooled by six central banks to withstand market volatility
(Un)stablecoins and central banks
Time to tackle stablecoin structures and support mechanisms
IMF paper proposes ‘policy space index’
Authors try to quantify countries’ room to respond to a “black swan” event
Bolivian central bank wants to become sole buyer of gold
Proposal would allow BCB to use gold reserves as collateral or swap them for foreign exchange
Costa Rican central bank raises rates to highest level since 2011
Board also orders increase in reserve requirements from July as inflation remains over target
Argentina increases reference rate 300bp
Central bank says it anticipates inflation will fall despite continuing rise
Banknotes: April to June 2022
A round-up of news and salient issues that have affected central bankers in the past three months
Central bank gold purchases back in positive territory
War and inflation appear to be supporting demand for the reserve asset
CBDC and bank intermediation in the eurozone
An assessment of the impact different ‘digital euro’ designs related to remuneration and usage limits could have on the banking system, including during times of stress*
Argentine central bank struggles to meet reserves targets
IMF signs preliminary agreement for loan payment but reports say BCRA cannot meet reserve target
Lesotho appoints new central bank governor
Acting governor Mohapi will become first deputy
IMF blog highlights rise of ‘non-traditional’ reserve currencies
Renminbi only accounts for a quarter of the shift away from dollars
Peter Nicholl on rebuilding Bosnia’s central bank
The former RBNZ deputy governor speaks with Dan Hardie about how he tackled financial instability in the aftermath of a war
Rates round-up: Canada adds 50bp to main rate
Kenya orders first rate increase since 2015; Dominican Republic hikes 100bp; and more
Peru halves IMF credit line
Authorities say plan to phase out flexible credit line is mark of “very strong fundamentals”