Foreign exchange
Taiwanese central bank opposes sovereign wealth fund proposal
Legislators propose using 10% of Taiwan’s $561 billion foreign reserves to set up a SWF
Argentina raises rates again
Economic stability grows more distant as elections loom
Korean and Indonesian central banks sign bilateral transactions MoU
Agreement aims to let firms directly exchange won and rupiah without dollar conversion
BoG’s Addison: Ghana agrees to end monetary financing
Governor says MoU with finance ministry “has been finalised”, and the IMF deal will come by the end of May
Argentina orders 1,000bp rate hike as peso struggles
Central bank tightens for second time in a week
BSP governor warns against cutting rates faster than the Fed
Medalla’s comment follows central bank’s recent move to support the peso
Zimbabwe will mint ‘digital gold token’, says governor
Mangudya says RBZ will offer “store of value” as alternative to foreign currency
Bolivian officials say reserves problem is temporary
Central bank sells SDRs as dollar scarcity and legislative gridlock persist
PBoC has ‘by and large’ ended FX intervention, says governor
But Yi Gang declines to give a timeline for full renminbi convertibility
‘Back to the future’ for FX reserve management
Rise in bond yields changes the dynamics of ‘security, liquidity and return’, writes Gary Smith
Hackers seize South Sudan central bank website
Group demands central bank act to make currency stronger against the dollar
BSP governor says Fed should be ‘more caring’
But Felipe Medalla says Philippines accepts reality of having to react to US monetary policy
Cuba will again allow dollar cash deposits
Decision reverses ban in place since June 2021
Illegal gold trade impacts Ethiopian reserves
Assosa region holds one of the greatest untapped resources of gold in the world
IMF eases Argentina loan terms
Fund approves $5.4 billion payout and lowers reserves targets as drought conditions bite
Bank of Israel warns political turmoil could hit GDP
Central bank slows cycle with 25bp hike, raising key rate to 4.5%
Tech could shake up international monetary system – IMF paper
Inertia likely to maintain status quo in near term, but impact of technology “highly uncertain”
China and Brazil set up infrastructure for renminbi clearing
Move comes as renminbi overtakes euro as Brazil’s second largest reserve currency
IMF approves $15.6 billion for Ukraine
Fund calls wartime loan “unprecedented” and risky
Rates round-up: Kenya raises rates to highest since 2018
Sarb adds 50bp more as economy struggles; Zimbabwe cuts 1,000bp; Mozambique holds
Uruguay’s government will recapitalise central bank
Economist says BCU failed to hedge against exchange rate risks
World faces ‘new investment regime’, says Mauritian governor
Seegolam says “bonds are back” but FX will be volatile
SNB’s Maechler to take deputy role at BIS
Senior Swiss official will replace Luis Awazu Pereira da Silva as deputy general manager
Swift completes cross-border CBDC settlement pilot
Banque de France, Bundesbank and the MAS among central bank participants