After the collapse of oil price and imposition of international sanctions 5 years ago, the Russian RUB hit the rock bottom. Since December 2014, the Russian currency has seemed to be caught in a never ending downward spiral, reaching a historic low in January 2016.
Yakiv Smoliy took over as the Governor of the National Bank of Ukraine (NBU) in mid-March 2018. His goals are, among others, low inflation and efficient banking system.
IMF and the governor of the Croatian National Bank organized a conference that encourages further liberal reforms in Central and southeast Europe.
A year after Brexit decisions made by central banks in countries which were considering entering the Eurozone show that there is no intention to do so.
After the ‘Maidan revolution’ of 2014, the National Bank of Ukraine abandoned the exchange rate peg to the US dollar and switched to a flexible exchange rate, which was later formalized within the framework of a newly adopted Inflation Targeting regime.
Over the next three years the heads of six governors central banks around the world will be replaced. Their successors will have face difficult challenges.
Ukrainian MPs are demanding the dismissal of the management and changes in the scope of responsibility of the central bank of Ukraine.
Governor Boštjan Jazbec entered his corner office on the first floor of Slovenia’s Central Bank (Banka Slovenije) and found himself surrounded by the criminal investigators from the National Investigation Office (Nacionalni preiskovalni urad).
Central banks have been entrusted with the task of developing and implementing measures for limiting systemic risk. They should cope with this task but if they don’t succeed, central banks are risking their credibility.
The worldwide debate on what kind of institution should exercise supervision of banks is intensifying as the role of central banks is rising throughout the world.
