Currency
SNB opens poll on altitude-themed banknotes
Central bank asks public for views on designs based on Switzerland's ‘unique topography’
BoK governor expresses confidence in finance minister
Rhee’s comments follow apparent discord between bank and government over digital assets policy
HKMA stablecoin regulations take effect amid ‘market euphoria’
Markets eye further gains as Hong Kong’s de facto central bank tries to damp down ‘bubble-like trend’
Central banks’ CBDC sentiment can prove contagious – BIS study
Authors say Fed and ECB’s positions on digital assets affect how the currencies are perceived elsewhere
HKMA chief tries to temper stablecoin expectations
Yue says territory’s regulations will be tight and short-term profitability for first issuers is not guaranteed
Book notes: Beyond banks, by Dan Awrey
The book proposes thoughtful reforms to establish the same reliability for new monetary IOUs as currently exists for bank IOUs
ECB opens second round of banknote design competition
Artists invited to submit ideas related to culture and the natural world
Book notes: Central banking at the frontier, by Thammarak Moenjak
This well-structured book provides a comprehensive overview of the challenges digitalisation poses for finance and includes possible actions for central banks
Austria boosts rural access to cash with 120 new ATMs
Central bank provides cash machines to communities with at least 500 inhabitants
Hong Kong intervenes once again to protect currency peg
Intervention is HKMA’s second at weak end of HKD/USD band in less than a week, with more likely
The future of money
Central banks may require more flexible inflation targets and facilitate wider payments interoperability to maintain trust and the ‘singleness’ of money. By Sethaput Suthiwartnarueput
Hong Kong intervenes to protect currency peg
HKMA sells US$1.2 billion at HK$7.85 to the dollar as local currency hits weak end of FX band
Recollections may differ on Weimar hyperinflation – ECB blog
Author says first-hand accounts suggest episode was less traumatic than politicians would later claim
Bailey ‘remains to be convinced’ about retail CBDCs
BoE governor adds that stablecoins must “pass the test of singleness of money”
PBoC’s Pan outlines vision for multi-currency international order
Governor describes SDR-based system in which major currencies would “co-exist and compete”
Acting US currency comptroller defends pre-emption
Hood says principle is in line with federal law and court precedent
Innovation must not erode basics of money – BoT governor
Digital tokens untethered to central banks are not the future of money, claims Sethaput
Digital yen must be as robust as cash – BoJ deputy governor
Uchida says Japanese CBDC will need to retain public trust to same degree as notes and coins
Working group minutes: central banks seek cash cycle efficiencies
Some EME institutions are restructuring operations and promoting digital payment methods
ECB greenlights Bulgaria’s accession to eurozone
Politicians show cautious optimism as Bulgarian central bank governor lays out next steps
Bank notes: April to June 2025
A round-up of news and salient issues that have affected central bankers in the past three months
Croatia and Montenegro to begin cash swap programme
Central banks sign MoU to exchange damaged euro notes from Montenegro for undamaged ones from Croatia
Why making cents no longer makes sense
Experts praise US Treasury’s decision to stop minting pennies, but question policy’s implementation