Central Banks

President Donald Trump says he has directed the Treasury Department to stop minting new pennies, citing the rising cost of producing the one-cent coin. For far too long the United States has minted pennies which literally cost us more than 2 cents. This is so wasteful! Trump wrote in a post Sunday night on his Truth Social site. I have instructed my Secretary of the US Treasury to stop producing new pennies. The move by Trump is the latest in what has been a rapid-fire effort by his new administration to enact sweeping change through executive order and proclamation on issues ranging from immigration, to gender and diversity, to the name of the Gulf of Mexico. Trump had not discussed his desire to eliminate the penny during his campaign. But Elon Musk's so-called Department of Government Efficiency raised the prospect in a post on X last month highlighting the penny's cost. The US Mint reported losing $85.3 million in the 2024 fiscal year that ended in September on the nearly 3.2 .

Ireland is especially exposed to President-elect Donald Trump's pledges to slash corporate tax and incentivise industries to bring production back to the US

The Fed commenced tightening from mid-March 2022, with a 25 basis points (bps) increase in the policy rate. By June 2022, the policy rate in the US had jumped by 150 bps

Recoveries from written-off accounts, treasury income boost bottom line

The Reserve Bank of India has been publicly asking supervised entities to ensure compliance with norms and that consumer interest is protected

Most large central banks have been grappling with high inflation rates over the past couple of years after having misjudged the early warning signs

China too, which is running the world's largest pilot scheme, has seen use of its protype e-CNY nearly quadruple to 7 trillion yuan ($987 billion) of transactions according to officials

Reserve Bank of India Governor Shaktikanta Das has been ranked as the top central banker globally for the second consecutive year by US-based Global Finance magazine. "Happy to announce that for the 2nd consecutive year, RBI Governor @DasShaktikanta has been rated 'A+', in the Global Finance Central Banker Report Cards 2024," the RBI said in a post on X. Das has been placed at the top of the list of three central bank governors, who have been rated A+. Grades are based on a scale from A to F for success in inflation control, economic growth goals, currency stability and interest rate management, according to a statement by Global Finance magazine. An 'A' represents excellent performance, while an 'F' for outright failure. Denmark's Christian Kettel Thomsen, India's Shaktikanta Das and Switzerland's Thomas Jordan have been ranked under the 'A+' category of central bankers. "Central bankers have waged war against inflation over the past few years, wielding their primary weapon: hig

The rate easing cycle in Asia's third-largest economy should begin with a 25-basis-point cut in December, Jain said, mirroring the market view

Speculation has grown that the Bank of Japan will raise interest rates on Wednesday at the same time as significantly reducing its monthly bond purchases

The Reserve Bank of India (RBI) intervenes in the foreign exchange market to curb excess volatility in the rupee

Last month the central bank forecast inflation would rise to around 2.6 per cent by the end of the year

Demand for gold from central banks has been elevated in the last two years as some countries diversify their foreign currency reserves

The European Central Bank (ECB) delivered a well-telegraphed rate cut on Thursday, a day after the Bank of Canada became the first G7 nation to trim its key policy rate

Non-deliverable forwards indicate the rupee will open largely unchanged from 83.53 in the previous session

This is not to say that individual central bankers are untrustworthy. The problem is that most central banks are not as independent as many believe

People's Bank of China (PBOC) pledged recently to add treasury bond buying and selling to its toolkit, to improve an increasingly flawed monetary policy transmission mechanism

Global rating agencies on Friday said windfall of Rs 2.1 lakh crore dividend from the RBI is positive for the country's fiscal metrics and its usage will provide a signal around the new government's fiscal priorities. The board of India's central bank earlier this week decided to pay Rs 2.1 lakh crore dividend to the government from the profits earned in 2023-24. This is more than double of Rs 1.02 lakh crore that was budgeted by the government. Fitch Ratings Asia-Pacific Sovereigns Director Jeremy Zook said sustained deficit reduction, particularly if underpinned by durable revenue-raising reforms, would be positive for India's rating fundamentals over the medium-term. "The use of the dividend -- whether it is saved or used for additional spending -- could provide a signal around the government's fiscal priorities," Zook told PTI in an email response. Fitch has a 'BBB-' rating on India with a stable outlook. In January, the rating agency had affirmed India's rating on robust growt

Days after US data revealed cooler-than-expected consumer-price growth, the UK, Canada and Japan will all publish numbers for April that are likely to go in the same direction