All articles tagged with #central bank
Russia's State Duma approved a law letting the central bank and select financial institutions run their own anti-drone defense systems and arm staff to protect key facilities, enabling jamming or shooting down drones and other unmanned threats near protected sites.
President Putin pressed the government and the Central Bank for explanations after Russia’s economy undershot expectations this year, with January–February GDP down 1.8% year-on-year. Calendar-adjusted figures show January flat and February up 0.3%, but construction and broader industrial activity remained weak. Oil and gas revenues plunged, widening the budget deficit to 4.58 trillion rubles, signaling limited upside as economists warn of only modest growth around 1% this year amid high interest rates and war distortions.
A Bolivian Air Force C-130 cargo plane crashed on approach to El Alto International Airport, killing at least 11 people. The aircraft, flying from Santa Cruz, was carrying banknotes to the Central Bank of Bolivia. The runway was hit and the airport was temporarily closed as authorities opened an investigation. The Defense Ministry warned the banknotes have no purchasing power, and urged the public to stay away, as some people reportedly tried to collect the money at the scene.
Bank of France Governor François Villeroy de Galhau will step down in June 2026, more than a year before his term ends, enabling President Macron to influence the appointment of his successor and potentially avoid a candidate aligned with the opposition; Macron supporters say the move aids a smooth transition, while critics call it a political stitch‑up; Villeroy said the decision is personal and will let him take a new role at a charity, with implications for ECB policy and France’s fiscal stance.
The article argues that debt crises in advanced economies are more plausible than commonly thought: high public debt plus shocks can push yields higher, and even when central banks cap yields, currencies can depreciate, signaling ongoing, low‑grade crises across Japan, the UK, and parts of the euro area. For example, Japan’s yen falls as JGB yields rise despite BoJ caps, the UK sees rising gilt yields with a relatively stable pound, and Italy, Spain and France face growing debt pressures within a euro framework, though Germany's low debt provides some insulation. The piece concludes that debt distress is already unfolding in the G10 and could deepen.
Iran has replaced its central bank governor in an effort to address and contain ongoing cost-of-living protests across the country.
The head of Iran's Central Bank resigned amid protests in Tehran and other cities following the rial hitting a record low against the dollar, with traders and citizens rallying over economic instability, soaring inflation, and fears of hyperinflation, exacerbated by political tensions and international sanctions.
Some officials in the Trump administration are privately questioning Kevin Hassett's suitability for the Fed chair position, citing his limited influence on policy and leadership style, despite his extensive credentials and support from some allies. The decision remains uncertain as Trump considers other candidates amid economic challenges and debates over the Fed's direction.
The US dollar declined against the yen and Swiss franc amid a busy week of central bank decisions and US economic data releases, with expectations of a Bank of Japan rate hike and potential rate changes by the ECB and Bank of England. Key US data, including jobs and inflation reports, are awaited to clarify the Federal Reserve's policy outlook, while cryptocurrencies like Bitcoin and Ether continue to decline.
Russia's central bank has cut its key interest rate and lowered its 2025 economic growth forecast due to high inflation, Western sanctions, and ongoing geopolitical tensions, particularly affecting the oil and gas sector which is vital to the economy.
Gold prices experienced a significant decline, with a 5.7% drop marking its largest in over 12 years, driven by profit-taking after a strong rally despite declining bond yields. While some see the pullback as a correction, gold remains on track for its best year since 1979, supported by central bank buying and expectations of lower interest rates, though traders anticipate continued volatility.
An appeals court has allowed Federal Reserve governor Lisa Cook to retain her position after the Trump administration sought her removal ahead of a key interest rate decision.
Russia's central bank has lowered interest rates despite data indicating the country's GDP is shrinking, suggesting the economy is in a technical recession due to ongoing war-related strains, high inflation, and declining oil revenues, though officials deny a full recession.
The European Central Bank's President Lagarde is expected to face scrutiny over issues related to France, amid upcoming leadership changes at the ECB and ongoing economic uncertainties influenced by US trade disputes and political tensions.
Russia's economy has entered 'technical stagnation' with growth approaching zero, driven by high interest rates, inflation, and declining oil revenues, raising concerns about a potential recession amid ongoing fiscal and geopolitical challenges.