The US has accused Switzerland and Vietnam of being “currency manipulators”, saying their foreign exchange interventions had prevented “effective balance of payments adjustments”. In the case of Vietnam, the US Treasury also accused the authorities…
Read More
The International Monetary Fund has said it is working towards a new arrangement with São Tomé and Príncipe following the country’s “sluggish” economic growth. In a statement on August 6, the IMF said it had…
Read More
European Central Bank headquarters, Frankfurt The minutes of the latest European Central Bank policy meeting on July 22 confirmed the governing council’s divisions on its new forward guidance. The accounts published on August 26 acknowledge…
Read More
The ranking Republican on the Senate banking committee has charged three regional Fed presidents with involving their banks in “politically charged issues” that are beyond the Fed’s remit. Senator Pat Toomey wrote to the presidents…
Read More
Switzerland’s large companies must follow a set of climate-reporting parameters, the Swiss Federal Council ruled on August 18. The seven-member council is effectively the highest office of Switzerland’s federal government. The new reporting principles will…
Read More
A London-based international court has dismissed a case brought by a firm against Ghana’s central bank, which had argued that the claimant had acted corruptly. Ghana-based payment services firm Sibton Switch Systems bought the case…
Read More
Kuwait: Ghanem Suleiman Al-Ghenaiman has been appointed managing director of the Kuwait Investment Authority by the fund’s newly installed board. The KIA is Kuwait’s largest sovereign wealth fund. It had been without a full board since…
Read More
Having worked on its Digital Currency Management System since 2016, Bitt has launched the first synthetic central bank digital currency (CBDC) in Barbados, followed by another first in the Eastern Caribbean Currency Union (ECCU) in…
Read More
Artificial intelligence systems should not be responsible for financial firms’ risk management nor autonomously supervise them, new research from the Bank of England argues. The BoE’s former chief economist, Andy Haldane, writing with Marcus Buckmann…
Read More
The Federal Reserve has agreed to extend the dollar swap lines it re-established during the Covid-19 crisis to guard against further instability in 2021. The announcement came alongside the Fed’s latest monetary policy decision, where…
Read More