Lkhagvasuren Byadran

Jun 17, 2024 | centralbanking.com | Daniel Hinge |Lkhagvasuren Byadran |Christopher Jeffery |Dan Hardie

Central banks are pressing ahead with action to tackle climate change, even as the political environment turns hostile in some jurisdictions. Reserve managers have been adding new green assets and improving sustainability tracking, speakers at the Central Banking Summer Meetings said. Some have begun to aim for a positive impact on the climate as well as managing the risks. The political backdrop for central banks is highly uneven. In some countries, particularly where right-wing parties are

Jun 14, 2024 | centralbanking.com | Levente Koroes |Lkhagvasuren Byadran |Christopher Jeffery |Daniel Hinge

Gold could gain in importance as a reserve asset despite its carbon profile, some panellists at the Central Banking Summer Meetings said on June 13. Renminbi is losing popularity, given operational challenges and a sluggish Chinese economy, other panellists said. An asset management specialist from an international financial institution said central banks now wanted sustainability from their reserves, alongside safety, liquidity and return. But this presented a two-fold challenge: how could a

Jun 12, 2024 | centralbanking.com | Lkhagvasuren Byadran |Christopher Jeffery |Daniel Hinge |Dan Hardie

Researchers from the Central Bank of Brazil have used machine learning to comb through pre-publication revisions to banks’ financial statements to detect financial risk. “Pre-publication revisions contain significant private information about future bank risk,” the researchers write. “Banks that revise their financial statements more frequently tend to exhibit higher risk levels in the future.”Speedy and efficient financial statement submissions are associated with safer banks, Andre Guettler

Jun 12, 2024 | centralbanking.com | Lkhagvasuren Byadran |Christopher Jeffery |Daniel Hinge |Dan Hardie

Fixed exchange rate regimes in sub-Saharan Africa reflect a “fear of floating”, a senior International Monetary Fund (IMF) official said on June 7. Relying on a fixed exchange rate limits policy flexibility and contains risks of sudden adjustments, the IMF’s African department head Abebe Aemro Selassie said. “Increasing monetary policy credibility is the antidote to the fear of floating,” Selassie said. He called on African central banks to adopt a holistic approach to strike a balance between

Jun 12, 2024 | centralbanking.com | Lkhagvasuren Byadran |Christopher Jeffery |Daniel Hinge |Dan Hardie

The Bank of Thailand (BoT) held its policy rate for the fourth straight meeting today (June 12), as inflation returned to its target range in May. The BoT’s monetary policy committee voted 6–1 to keep the policy rate at 2.5%, a level unchanged since September 2023. It acted despite months of pressure from prime minister Srettha Thavisin’s government to cut interest rates. One member voted to cut the policy rate by 25 basis points, arguing that would support growth and relieve the debt burden on