Interbank market news scan as of 12:42 am AST: #centralbanks, #financeministries

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ICICI Bank on Thursday said it has executed its first interbank-money market transaction linked with Secured Overnight Funding Rate (SOFR) through its Hong Kong branch. This transaction is part of the bank’s Benchmark Transition Management plan to assess the preparedness towards a smooth transition to the new Alternative Reference Rates (ARRs), the Bank said in a statement. ICICI bank makes its first interbank-money market transaction linked with SOFR – The Hindu BusinessLine

A battle between one of Mexico’s richest men and one of its most respected institutions appears to have ended in a victory for the central bank. Billionaire Loses to Mexico Central Bank in Battle Over Cash (msn.com)

The Bank of Japan and the European Central Bank both had monetary policy meetings, but as widely anticipated, left their current policies unchanged, while pledging to continue supporting economies through the pandemic. The announcements have no impact on currencies, with financial markets trading on sentiment. https://www.fxstreet.com/news/forex-today-unimpressive-central-banks-dollar-in-trouble-202101211939

Both the Bank of Canada and European Central Bank met in recent days, setting the tone for 2021: more easing is possible, but might not be needed. https://www.dailyfx.com/forex/fundamental/central_bank_watch/2021/01/21/central-bank-watch-boc-ecb-interest-rate-expectations-update-january-21.html

The Bank of International Settlements has outlined plans to embark on a variety of CBDC trials worldwide this year. https://cointelegraph.com/news/the-central-bank-of-central-banks-is-building-a-cbdc-settlement-platform

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