Articles by Central Banking staff
Inflationary shocks hurt US labour market and output – Fed study
As real wages decline, workers search for new, less economically productive jobs, research finds
Most RTGS systems projected for upgrade within a year
Two in three RTGSs operating 13–16 hours daily to be upgraded within a year
Central banks value tokenisation for efficiency and security
Respondents see less value in crypto or stablecoin payments
Chance of US recession lower, but still high – NY Fed study
Authors say model puts chances at 75%, compared with 83% at beginning of 2024
People: April to June 2025
A round-up of central bankers in the news and on the move during the past three months
Jobs, not prices, are main reason for dissent on FOMC – study
Votes show unemployment in presidents’ districts is of greater concern to them than inflation
Trump’s trade policy a ‘wildcard’, says Bostic
Atlanta Fed president says tariffs picture is “unsettled” and calls for patience on monetary policy
Bank notes: April to June 2025
A round-up of news and salient issues that have affected central bankers in the past three months
Budget and RTGS operating expenses rise year on year
Share of central banks charging both fixed and varied fees for RTGS access grows
Payments Benchmarks 2025 Charts
Take a deep dive into the Payments Benchmarks charts, which have just been released for 2025.
Trade trends favoured China over US even before tariffs – study
St Louis Fed research shows long-term re-anchoring of countries’ trade links between 2002 and 2022
Most central banks operate RTGS seven to 12 hours daily
Respondents processed over $6 trillion via system in 2024