Sterling
MPs cool on UK CBDC prospects
Treasury select committee says upsides to digital pound are “unclear”
Australia will not put king’s image on banknote
RBA says new design will honour indigenous people
The rise of non-SDR currency reserves
New Cofer data release may show an overall fall in FX reserves, writes Gary Smith
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
Independence white paper outlines possible Scottish central bank
Proposals map out “the process of establishing a Scottish pound”
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
BoE to buy bonds on ‘whatever scale is necessary’
Turmoil in gilt markets forces pension funds to dump assets to meet margin calls
IMF warns UK government as pound resumes fall
BoE’s Huw Pill signals need for “significant monetary policy response” to government spending plan
King Charles to appear on Bank of England notes from 2024
Other Commonwealth central banks have made little comment on changeover
BoE ‘monitoring developments’ amid market ructions
Many analysts had predicted early policy action from the central bank
Irish central bank will still exchange old banknotes and coins
Authorities take opportunity to remind public that UK paper £20s and £50s are expiring
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
PBoC launches renminbi reserve pool with BIS
Equivalent of $13.5 billion will be pooled by six central banks to withstand market volatility
Banknotes: April to June 2022
A round-up of news and salient issues that have affected central bankers in the past three months
Book notes: Two hundred years of muddling through, by Duncan Weldon
Insights into UK economic history offer lessons for today’s policy-makers
Sovereign green bonds: the reserve portfolio’s panacea?
German, Swedish, Danish and UK debt managers speak to Victor Mendez-Barreira about ‘twin bonds’ and other efforts to solve green bond liquidity concerns
IMF boosts dollar and renminbi weights in new SDR valuation
Euro records largest drop, while yen and sterling decline slightly
Book notes: Robert Triffin, by Ivo Maes with Ilaria Pasotti
Triffin’s story is well told by Maes, whose extensive personal and academic research shines through on page after page
The IMF’s $650bn SDR allocation and a future ‘digital SDR’
Focus is needed on widening SDR use in payments and the creation of a ‘digital SDR’, to support a large allocation of ‘official’ IMF SDRs, writes Warren Coats
Charles Goodhart on inflation targets, financial stability and the role of money
The LSE professor says inflation targets should have been 0%, the Fed’s move to AIT is a mistake, independence is under threat from inflation, big balance sheets support liquidity, AI can help supervisors and climate stress tests are unconvincing
BIS to operate sterling liquidity facility backed by BoE
Move echoes 20th century arrangements when BIS acted as intermediary in swaps network