Central Banks
BoE stress test finds UK CCPs resilient to extreme shocks
Bank will skip next year’s exercise to develop internal capabilities and resume testing in 2027
Australia holds, flags possible rate hikes next year
RBA keeps policy steady amid heightened inflation while governor says no cuts for foreseeable future
The prospects for retail CBDCs
Open instant payments systems offer a quicker route to financial deepening, for now
BIS probes ‘exceptional’ FX activity around April shock
Triennial survey would likely have shown less dramatic shift without tariffs, economists find
Eurozone bank uncompetitiveness a ‘myth’ – Schnabel
Regulations have made lenders better, says ECB board member
Public backstop complements private liquidity – BoE paper
Wholesale funding conditions improve even without banks tapping lending facilities, researchers find
Iceland abruptly stops FX purchases
Short-lived programme brought in €429 million of revenue for central bank
IIF says China’s CBDC irrelevant to renminbi internationalisation
Economists say yuan’s use for payments growing, though it remains “stagnant” as reserve currency
Lesetja Kganyago on a 3% target and risks posed by rising debt in a fractured system
The Sarb governor speaks about a lower inflation target, the impact of high developed-world debt, the G20’s payments efforts and the fracturing of the multi-lateral system
Bank of Russia to scrap some FX transfer limits
Institution to lift restrictions four months early for citizens and foreigners from “friendly countries”
Visa to launch payment operations in Syria
Card service provider partners with central bank to integrate country into global digital economy
12 angry members: why dissent is growing on the FOMC
Hardening views on wisdom of further cuts mean committee’s next meeting is unlikely to be harmonious
Bessent: Fed heads should come from districts they represent
US Treasury secretary says measure would not be applied retroactively
Saudi fund leaves $3bn in Pakistan’s central bank for another year
Deposit accounts for around a fifth of SBP’s dollar reserves
India cuts rates amid strong growth and low inflation
Malhotra says growth was at six-quarter high earlier this year as RBI eases by 25bp
BoE launches system-wide test on private markets
Second ever exploratory scenario to include major asset managers; results expected in early 2027