Reserves
Guillermo Avellán on BCE independence, capacity-building and dollarisation
Central Bank of Ecuador general manager speaks about the need to bolster the central bank’s legal autonomy, dollarisation challenges, payments developments and monetising local gold production
IMF grants Burundi $271 million loan
Burundi must liberalise currency regime, end central bank financing and tighten policy
Ecuador refines more than a half-tonne of gold from small miners
Latest stage of gold purchase programme adds $36.1 million to reserves
IMF approves $3 billion short-term loan for Pakistan
Saudi Arabia and UAE provide $3 billion more as country tries to overcome crisis
Egypt announces ‘record’ inflation
Inflation continues rising despite monetary tightening and could trigger IMF consultation
Senad Softić on governance, currency boards and EU convergence challenges
Central Bank of Bosnia and Herzegovina governor speaks about improving governance in a political vacuum, managing a currency board amid rip-sawing euro rates, resolving Gazprom’s local units, modernising payments and meeting EU convergence criteria
Bye-bye BCRA?
An Argentine presidential candidate proposes abolishing the central bank and the peso
Weak krona increases inflation risk – Riksbank minutes
Board members agree inflation remains too high and policy needs to be tighter
Ukraine’s governor on central banking in wartime
Andriy Pyshnyy talks about macroeconomic stability, running banks under missile attack, winning IMF aid and post-war reconstruction plans
MAS posts record $22.8 billion loss
Managing director Ravi Menon says loss is not a cause for concern
IMF extends food shock window despite low demand
Fund postpones end to looser caps on emergency credit
Equities look set to stay in FX reserves portfolios
Despite 2022 losses and higher bond yields, central banks maintain commitments to the risky asset class
Advanced economies most likely to survey trust and understanding
Data shows differences in how central banks judge the effectiveness of monetary policy
Argentina increases use of Chinese currency
Authorities repay IMF in renminbi, and allow it for local current and savings accounts
Kenya hikes 100 basis points at unplanned meeting
New governor says unexpected rise in inflation made rate increase necessary
Riksbank raises rates and signals further tightening
Swedish central bank accelerates government bond sales and is looking to hedge currency risk
SBP reverses course and hikes rates 100bp
State Bank of Pakistan raises key rate in emergency session as IMF deadline looms
Corridor systems most used to set monetary policy
Floor systems less popular overall but widely used with asset purchase programmes
Georgieva says $100 billion in SDRs donated
IMF chief says 2021 goal reached, but critics note Congress has not approved US pledge
Ecuador approves contingent credit line
Flar offers up to $230 million to Central Bank of Ecuador
RBI’s Shaktikanta Das on financial sector reform, sticking to inflation targets and the e-rupee
The Reserve Bank of India governor speaks about developing credible self-insurance and sizeable FX reserves, inter-dependence with government, non-bank and bank regulatory reforms, demonetisation, rupee internationalisation and daily UPI payments hitting…
NBER paper estimates demand for bank reserves in US
Fed needs global estimates of demand curve slope to maintain interest rate control, authors say
Africa: Rate rises for DRC and Namibia, but Zimbabwe says no
DRC and Namibia react to high inflation as expert says Zimbabwe is suffering hyperinflation
Euro remained second reserve currency in 2022 – ECB report
Structural factors continue to hold back the euro as a reserve currency