World Bank, Washington, DC The US will put forward Ajay Banga, the former chief executive of Mastercard, as its candidate for president of the World Bank Group. Banga would succeed David Malpass, who began a…
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The Bank of Russia will launch a pilot for the digital ruble in April that will test transactions between individuals and retail payments. Thirteen banks that have signalled their readiness will participate, deputy governor Olga…
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Central banks promise to ‘restore stability’ under their mandate – the 2%-a-year inflation standard – after the great pandemic and war inflation of 2021–22. We question, however, whether this is feasible. We also argue that…
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With Lael Brainard officially leaving the Federal Reserve Board, Washington is again speculating about who US president Joe Biden will appoint to the US central bank. Brainard will become director of the National Economic Council,…
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The Bank of Japan said today (February 17) it will start a pilot programme in April to test the use of a digital yen. The move follows two years of experiments that the Bank of…
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Central Bank of Colombia branch in Cartegena The governor of the Central Bank of Colombia (BCC), Leonardo Villar, told a banking conference the supposed trade-off between fighting inflation and economic growth was a “false dilemma”.…
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France: The French government named Agnès Bénassy-Quéré to a six-year term as the second deputy governor of the Banque de France on February 8. She will succeed Sylvie Goulard on February 27. Goulard announced her…
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The Bank of England is moving from research to design on a potential “digital pound”, as it views the launch of a retail central bank digital currency (CBDC) as increasingly likely. “As the world around…
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Bank of Canada officials have elaborated their thinking around the most recent monetary policy decision, which called an end to a 10-month tightening cycle. Their statements included a “summary” of the January 25 governing council…
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A central bank’s most important role is meeting its mandates, not making profits, but when losses mount, clear communication is critical, the Bank for International Settlements says. “To maintain the public’s trust and to preserve…
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