Reserves
Ghana’s Ernest Addison on the chain of events that led to a loss of $5 billion
The Bank of Ghana governor speaks with Christopher Jeffery about what necessitated monetary financing, the boundaries of ‘independence’ and the results of offline tests of the e-cedi
Argentine government devalues peso and replaces governor
Finance minister announces austerity as IMF welcomes new president’s early moves
Bolivia reserves shortage worsens
Fuel runs short as ex-governor says government “does not want to recognise” crisis
BCRA requires prior approval for all FX requests
Virtual freeze on exchange as Pesce and other directors make way for Milei’s picks
Israeli reserves increase by almost $7 billion in November
FX sales fall from $8.2 billion in October to $338 million last month
IMF: Argentina needs ‘a strong and credible central bank’
Central bank caps banks’ FX holdings ahead of Milei inauguration on December 10
Milei confirms Santiago Bausili as BCRA pick
Appeals court recently dismissed conflict–of-interest charges against governor-designate
DNB aligns $9.7 billion of reserves with Paris Climate Agreement
Targets aimed to reduce “real-world” carbon emissions beyond portfolio decarbonisation
Kenya increases policy rate by 200bp to strengthen shilling
Governor says equilibrium rate has been ‘overshot’
Managing reserves amid climate change and home-shoring
Central banks can still make asset allocations with solid climate outcomes, despite slippage in the net-zero timetable, writes Gary Smith
Fixed income in a new era
Global reserve levels are recovering from a series of unprecedented economic shocks. In the new interest rate era, bonds became more appealing as yields rose. But they also come with the risk of devaluation as above-target inflation persists. Many…
The long and short of it: Central Banking case studies in point
Invesco comments on the case study interviews conducted by Central Banking for this report, and key reserve challenges such as global high inflation and balance sheet dynamics in emerging and advanced economies.
A turning point for reserve managers?
After many central banks’ reserves declined in 2022, how should managers evaluate their fixed income investment policies in an uncertain period following years of unprecedented shocks?
Karnit Flug on the Bank of Israel’s emergency responses and challenges ahead
The former Israeli central bank governor and current vice-president of the Israel Democracy Institute speaks with Christopher Jeffery about the BoI’s targeted emergency responses, economic uncertainties and central banking independence
The ECCB’s Timothy Antoine on currency union, cooperation and DCash 2.0
The ECCB governor speaks with Christopher Jeffery about maintaining a currency zone, addressing climate and cyber risks, the decline in correspondence banking and lessons learned from issuing a retail CBDC
Sarb governor confirms Treasury may draw on reserves to service debt
South African authorities considering use of $25 billion to address ‘expensive’ repayments
IMF renews Mexico’s flexible credit line
Two-year deal provides Mexico with $35 billion in case of crisis
Fixed income in reserves
Central Banking speaks to four officials about their fixed income investments and how monetary policy and inflation interact with reserve management.
Hong Kong’s currency peg under strain – US report
Hong Kong’s currency peg to the dollar touched its weak side more than 40 times over a year
Paper calls for Sarb to pass reserves to South African government
Report says central bank contingency account appreciated by nearly $8 billion
From debate to dilemma: should reserve managers diversify when rates are high?
Panellists discuss tranching, tactical diversification and strategic asset allocation governance in current market conditions during a Central Banking roundtable in collaboration with Invesco.
Malawi imposes capital controls after devaluation
Central bank devalued kwacha by 30% against US dollar last week
Crisis-stricken Israel has faith in central bank
Economists tell Central Banking the government must radically change fiscal priorities
Bank of Israel’s FX interventions reached $8.2 billion in October
Central bank approved $30 billion programme following Hamas attacks on Israel