Exchange rate
Exchange rate key to policy decisions – Sarb’s Cassim
“What counts as tight” is changing worldwide, forcing central banks to keep up, deputy says
Banknotes: July to September 2022
A round-up of news and salient issues that have affected central bankers in the past three months
Curaçao and Sint Maarten raises rates 150bp
Islands track Fed policy as inflation puts pressure on growth, trade balance and reserves
Chile rejects new constitution, sinking central bank reform
Draft had proposed some changes to central bank governance and mandate
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
Nigerian currency pressure mounting as central bank releases airline funds
Customers are facing limits on what they can withdraw from some banks, say reports
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
Book notes: The money minders, by Jagjit S Chadha
This book acts as an invaluable primer on money-credit-fiscal theory and practice
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
Pakistan names new governor
Jameel Ahmad succeeds Reza Baqir after three-month delay
Bank of Jamaica hints rate rises may be ending
MPC increases policy rate 50bp and says 6% may be “appropriate”
Uruguay continues policy tightening
Policy-makers say inflation and expectations are stubbornly high
Turkish central bank shocks with 100bp rate cut
Rogoff describes move as “nuts”, as official inflation neared 80% in July
Central Bank of Egypt governor resigns
Amer joins presidential staff amid inflation and currency crises
Ukraine’s wartime economy faces possible crisis
Foreign donors must increase financing of Ukrainian government, NBU ex-governor and current government adviser argue
Zimbabwe officials considering currency board
MPC member says arrangement would require $700 million in reserves
Kuwait raises policy rate 25bp
Central bank usually times increases to match FOMC meetings
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*
South Sudan president fires sixth governor
Moses Makur Deng ends seven-month stint as currency depreciates
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
Czech central bank halts tightening
Many had expected new governor and board to take dovish turn
Cuban regime to buy foreign currency near market rates
Move cuts peso’s dollar exchange rate by four-fifths after Cubans protest over shortages
Madagascar raises rates 90bp
Central bank expects economy to grow but speaks of troubling global conditions