Russia
Banknotes: July to September 2024
A round-up of news and salient issues that have affected central bankers in the past three months
US and UK sanction Russian bank licensed in UAE
Central bank “studying options” as Ukraine allies target sanctions evasion
UAE grants licence to Russian bank
US voices concerns over sanctions evasion and threatens action against facilitators
Russia and Iran discuss joint gold-backed stablecoin
Digital currency would be used for foreign trade settlements in special economic zone
Russia developing cross-border CBDC settlement
Research into two proposed models for digital ruble exports to begin in Q1
Fed officials disagree on dealing with uncertainty
Vice-chair Brainard and Cleveland Fed’s Mester take different stances on uncertainty
Book notes: Yellen, by Jon Hilsenrath
This book offers new insights into the tough decisions and tremendous efforts Yellen has made as a pre-eminent economic policy-maker
The race to adopt ISO 20022 payments messaging
Some jurisdictions do not plan to adopt the protocol, while others are preparing for a disjointed implementation
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
Russian banks set to use digital ruble in 2024
Cross-border integration with “friendly countries” planned to bypass Swift
Rising inflation still stalks major Latin American economies
Tighter monetary policy in Brazil, Chile and Mexico is failing to bring inflation down
Book notes: Harry White and the American creed, by James Boughton
This book offers a deeper understanding of the hugely influential IMF founder and his work, but fails to resolve espionage charges
Fractures in the monetary system
Seizure of Bank of Russia assets likely to have long-term implications for international system
Ukraine allows unlimited cash withdrawals for threatened regions
Bank of Russia halts publication of regulatory data and announces more emergency measures
2021: The year in review
The year has seen central banks switch from recovery mode to battling inflation. Central Banking looks back at the stories that made the biggest impact in 2021
Emerging-market central banks lead on women’s empowerment
EME central banks have more women at staff level and in senior positions, but there are deep disparities worldwide, with childcare availability appearing to be a major cause
Bulgaria: long live the currency board
Bulgaria should reject the euro and extend its currency board to cover bank deposits
The IFF China Report 2019: Financial deepening, fintech development and green financing
The past 40 years have seen China transform from a recipient of global aid to a major economic centre in its own right. China is now seeking to deepen its markets, gradually open its borders to global financial flows, and promote new and innovative forms…
The IFF China Report 2019: The Belt and Road Initiative
Over the past five years, China has invested more than $70 billion in Belt and Road Initiative (BRI) countries, of which there are now in excess of 100. Leading Chinese and international policy-makers explain how BRI efforts are progressing. This section…
The Belt and Road Initiative 2019 Survey – A new driver for globalisation?
The second Belt and Road Initiative (BRI) Survey of 28 central banks reveals that they view the BRI as a major driver of globalisation, with a high percentage of respondents expecting the initiative to provide a significant boost to GDP. So far,…
The IFF China Report 2019: New globalisation – The path to the future
Multilateral rules and multilateral bodies will need to be upgraded in the coming years to better represent the shift in economic gravity towards Asia, which has emerged as the largest contributor to global growth during the past decade.