The Bank for International Settlements (BIS), the Swiss-based global financial umbrella body dubbed the “bank for central banks,” has said it won’t be an avenue for any circumvention of Western sanctions placed on Russia for invading Ukraine. The BIS, which is owned by the world’s central banks and is headquartered in Basel, Switzerland, can conduct…
Swiss-Based ‘Bank for Central Banks’ BIS Says It Won’t Help Russia Dodge Sanctions
February 28, 2022
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Federal Documents Hint at Sweeping Economic Impact From Central Bank ‘Digital Loonie’
OTTAWA—Internal government documents show Finance Department officials believe there could be sweeping implications for the economy if the Bank of Canada ever issued its own cryptocurrency. The Bank of Canada has spent years looking at whether to introduce a digital currency, but so far hasn’t seen an immediate need to issue one. In one briefing…
New Zealand Central Bank on a Hiking Spree as Economic Climate Gets Hotter: Poll
BENGALURU—New Zealand’s central bank will raise rates for the second meeting in a row on Wednesday and continue with its tightening spree next year as it tries to put a lid on rising inflation and cool an overheated housing market, a Reuters poll found. Large amounts of fiscal and monetary stimulus injected to alleviate pandemic…
Dollar Falls From 15-Month High, Central Banks Hold Interest Rates Steady Amidst Rising Inflation
November 8, 2021
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The dollar made a steady start on Monday but fell below the 15-week peak reached after the Nov. 5 release of jobs data, as wary investors remained watchful of the central bank’s continued tolerance of inflation amidst the market’s volatile interest rate projections. Investors are waiting for U.S. Consumer Price Index data due on Wednesday….
Fed’s Powell Says It’s Time to Taper Bond Purchases, but Not Raise Rates
Federal Reserve Chair Jerome Powell on Friday said the central bank should start the process of reducing its support of the economy by cutting back on its asset purchases, but should not yet touch the interest rate dial. “I do think it’s time to taper; I don’t think it’s time to raise rates,” Powell said…
G-7 Finance Officials Endorse Policy Principles for Central Bank Digital Currencies
October 14, 2021
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G-7 finance officials endorsed 13 public policy principles for central bank digital currencies (CBDC) on Wednesday, noting that while electronic cash could support inclusion and innovation in an increasingly digital economy, the currencies also raise important questions regarding policy and regulation. The G-7 countries consist of Canada, the United Kingdom, the United States, France, Germany, Italy,…
ECB Policymaker Kazimir Charged With Bribery, Denies Wrongdoing
PRAGUE—Slovak central bank Governor and European Central Bank governing council member Peter Kazimir has been charged with bribery but denies wrongdoing and will defend himself against the charges, Kazimir and his lawyer said on Tuesday. “I do not feel guilty of any crime,” Kazimir, who served as finance minister before taking the central bank post…
Central Banks Likely to Make Policy Errors: Deutsche Bank Survey
October 12, 2021
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The Federal Reserve and the European Central Bank are likely to keep policy settings too loose while the Bank of England will probably err on the hawkish side, most respondents told an October market sentiment survey conducted by Deutsche Bank. The Fed has been moving closer to rolling back its $120 billion in monthly asset…
ECB Trims Emergency Support—but Don’t Call It Tapering
FRANKFURT—The European Central Bank will trim emergency bond purchases over the coming quarter, it said on Thursday, taking a first small step towards unwinding the emergency aid that has propped up the euro zone economy during the coronavirus pandemic. After the ECB pulled out all the stops last year as COVID-19 ravaged the economy, high…
Afghan Central Bank’s $10 Billion Stash Not All Within Reach of Taliban
LONDON/WASHINGTON—The insurgent Taliban took over Afghanistan with astonishing speed, but it appears unlikely that it will prove equally as fast in gaining control of most of the Afghan central bank’s roughly $10 billion in assets. The country’s central bank, Da Afghanistan Bank (DAB), is thought to hold foreign currency, gold, and other treasures in its…
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