Currency
Estonia’s head of cash on sunsetting low-value coins
Bank of Estonia’s Rait Roosve speaks about the country’s decision to stop minting one- and two-euro cent coins
Growing divide between ethereum investors – Philadelphia Fed study
Paper claims returns disadvantage “minnows” more than would be case with conventional assets
Estonia to adopt ‘rounding rule’ for cash payments
Central bank to phase out one and two euro cent coins as they are “too expensive to produce and handle”
Central Bank of Kenya cuts rates by 25bp
First reduction in more than four years comes as inflation declines and CBK issues new banknotes
Policy-makers report progress in CBDC exploration
Central banks generally see promise in digital currencies, though one is halting research
Stablecoin issuers pose short-term outflow risk to lenders – study
Research finds crypto assets weaken liquidity coverage ratios
Central banks of Japan and Thailand renew swap agreement
$3 billion bilateral arrangement aimed at supporting financial stability and trade
Japan issues first new banknotes in 20 years
New notes are fitted with 3D holograms
Digital euro ‘may require’ battery-powered cards for offline use
Eurosystem could develop its own app to manage digital euro accounts
CBDC would have little effect on real economy – BoK paper
Researcher says CBDCs would have marginal but positive effects on output
Most Germans would use digital euro – Bundesbank
Privacy, sturdiness and offline functionality among top concerns, survey finds
BdF paper looks at what new global currency would need
Unified debt market would go “some way” to internationalising the euro
Banknotes: April to June 2024
A round-up of news and salient issues that have affected central bankers in the past three months
Iran says it will start trading with Russia in rials soon
Central bank claims channel could support $1.5bn transactions but expert is sceptical
HKMA creates tokenisation advisory group
New group includes BIS Innovation Hub, regulators, academics, banks and tech firms
Danish central bank asks citizens to vote on new banknote designs
Suggested figures for back of note include polar explorer and Hans Christian Andersen
Asean+3 to launch new financing facility
Thirteen Asian states say fund will deal with exogenous shocks’ effects on balance of payments
Retail CBDC complexity may discourage adoption, says research
Kansas City Fed author argues Caribbean CBDCs have struggled to add value
Retail CBDC would extend central bank balance sheets – ECB paper
Frequent fine-tuning of monetary policy operations could become the norm