Central Banking’s October recap

Central Banking’s October recap

Hello from Central Banking,

Central bankers from across the globe recently debated the best model for cross-border payments. BIS head Agustín Carstens announced BIS's exit from the successful Project mBridge CBDC initiative, while economist Manmohan Singh explores how instant payments are changing "narrow money" measurements. Explore October's top Central Banking articles below.


Mamo Mihretu on the radical reform of central banking in Ethiopia

In this exclusive interview with Central Banking, National Bank of Ethiopia governor Mamo Mihretu speaks about monetary policy, opening the financial system, and more.


M1 vs M0 in an instant payments world

IMF senior economist Manmohan Singh explains how the distinction of “central bank money” and “narrow money” are blurring but argues that there is a need to keep both.


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ECB ‘did not approve’ production of €8,000 note

The ECB informed Central Banking that a collectible €8,000 ($8,729) banknote issued by Georgia-based Treasurium is not legal tender, despite the company's claim of ECB's consent


Governors differ on cross-border payments

Central bankers at the International Monetary Fund (IMF) and World Bank annual meetings disagreed on whether fast cross-border payment links should be bilateral or multilateral.


Hélène Rey on cracking the code to the global financial cycle

One of the best understood facts in international economics is that the dollar is at the centre of everything. But despite the clear correlation between the dollar and the global cycle, economists have struggled to pin down the causal mechanism. Now, some economists may have cracked the code, by looking in equity markets.


BIS to hand over Project mBridge to central banks

The BIS is ending its involvement with Project mBridge, the cross-border wholesale central bank digital currency (CBDC) initiative.


HQLAs ‘not liquid enough’ for Credit Suisse or SVB

The Basel Committee on Banking Supervision’s latest report on last year’s turmoil in the banking sector provides new insights into why Credit Suisse and Silicon Valley Bank struggled to acquire sufficient cash and liquid assets.


Malaysia’s Zeti on the key skills needed to be a successful central banker

Former governor of the Malysian central bank, Zeti Akhtar Aziz, recounts career-defining lessons and co-founding the Asia Business School.


Demand for cash: a global update

Despite a falling share of cash in payment transactions over the last couple of decades, the demand for banknotes experienced sudden exceptional growth after the outbreak of the Covid-19 pandemic.


Obituary: Tito Mboweni, 1959–2024

Tito Mboweni, former governor of the South African Reserve Bank and anti-apartheid campaigner, sadly passed away after a short illness on October 12.


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We wish you all the best for the month ahead.

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