Ukraine
Reserve Benchmarks 2022 – presentation
Reserves specialist Victor Mendez-Barreira speaks with Chris Jeffery about staffing and salaries, the inflation challenge, Bank of Russia sanctions, green investments, asset diversification, and reserve levels and liquidity lines.
Ukraine accuses Russian governor of crimes during occupation
Security service says Nabiullina organised effort to create “ruble zone” in Russian-controlled Kherson
The behind-the-scenes effort to convert Ukrainian refugee cash
How central and commercial banks worked to allow Ukrainians to exchange cash in wartime
People: October to December 2022
A round-up of central bankers in the news and on the move during the past three months
Chile’s Costa on tackling inflation, forex interventions and nowcasting
The Central Bank of Chile governor speaks about stubbornly high prices, Fed policy spillovers, reserve buffers, retail CBDC and the need to address unconscious bias
Ukrainian ex-governor accuses authorities of abuse of power
Shevchenko says he was not given time to prepare case before court issued arrest warrant
Ukrainian ex-governor attacks claim he is hiding from probe
Shevchenko says investigation is “politicised” after agency puts him on "wanted list"
Christopher Sims on modelling the inflation surge
Unprecedented series of shocks creates major challenges for central bank forecasters, the Nobel Prize-winning economist tells Daniel Hinge
Demand for cash in turbulent times
Antti Heinonen analyses trends in cash use as Covid fades, but new shocks take its place
IMF loans $1.3 billion to Ukraine under ‘food shock window’
Foreign donors should increase funding, IMF says, after officials warn of potential instability
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
Shevchenko denies fleeing Ukraine and denounces ‘campaign’ against him
Governor says corruption leak is a smear and political pressure forced him from office
Ukrainian governor Shevchenko resigns
Governor says he is quitting for health reasons as Gontareva says possible successor is unqualified
Ukraine: the challenges for central banks
Rules on the weaponisation of money would help to protect a ‘public good’ amid geopolitical splits in a testing environment for central banks, write Gavin Bingham, Paul Fisher and Andrew Large
Russia’s Mir forced into retreat
Banks and payment systems across Asia banish Russian cards after US warnings
Inflation: what went wrong, and why?
Charles Goodhart and Manoj Pradhan detail three theories on the causes of high inflation, as well as their implications for policy responses
Economy’s ‘first responders’ now in the line of fire
Forceful but late interventions to combat inflation raise the risk of central bank overreactions
BoE’s planned procyclical capital hike bewilders banks
Some doubt regulator will go through with counter-cyclical buffer hike while forecasting recession
Will the dollar remain the world’s reserve currency?
Bank of Russia sanctions are unlikely to undermine the US dollar’s central role in reserve portfolios. But a relative decline in US economic weight and technological innovation are benefiting other currencies
Gontareva on Ukraine’s funding, NBU policy and reconstruction
Former NBU governor Valeria Gontareva speaks about donor funding shortfalls, NBU policy and financial stability challenges, Nabuillina and the seizing of Russian assets, and post-conflict rebuilding and modernisation
Geostrategic risks now a major factor – CNB reserves head
Ondrej Strádal supports use of CBR reserves for reparations, is reassessing renminbi allocations and has US recession as a ‘base case’ scenario
Russian banks set to use digital ruble in 2024
Cross-border integration with “friendly countries” planned to bypass Swift
Ukraine’s wartime economy faces possible crisis
Foreign donors must increase financing of Ukrainian government, NBU ex-governor and current government adviser argue
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*