Central Banks
Moldova to switch reference currency to euro
Change reflects “economic realities” as country moves closer to EU
Economics teams tend to be tailored by institution
But hub and spoke model is prevalent among high income respondents
Currency Benchmarks 2024 – executive summary
Data sheds light on banknote design features, access to cash policies and cash cycle management
Fake it ’til you break it: the battle against disinformation
Transparency, beefed-up comms and AI are all being enlisted in central banks’ fight against falsehood
Bailey: UK must stay open for business
BoE governor calls for bridges to be built with EU countries and others
Basis swaps surge amid US repo concerns
Fed funds-versus-SOFR swap volumes nearly quadruple as declining Fed reserves impact funding rates
Central bankers share lessons on FX interventions
Officials highlight benefits of transparent operations, clear frameworks at Autumn Meetings
More volatility calls for greater agility – Schnabel
ECB official says new tools, including negative rates, may be needed in more disruptive age
Tombini warns of false sense of stability in markets
BIS official says participants need to price in significant uncertainty over economic policy
Book notes: The bankers’ new clothes, second edition, by Anat Admati and Martin Hellwig
A disjointed book where ‘I told you so’ new chapters add little to the excellent original analysis
Ecuador reallocating reserves and investing in technology – Avellán
General manager highlights effort to cut gold holdings and launch new financial infrastructure
‘I wish we were long bitcoin’ – central bankers on Trump 2.0
Reserve managers at Central Banking Autumn Meetings warn of higher signal-to-noise ratio
Reserve managers should be ready for new asset classes – panel
Central banks can prepare now for change in market conditions, say Autumn Meetings panellists
RBA to run trials on tokenised asset settlement
Bank invites industry proposals on ways of settling transactions using digital money
Return to floating rate a ‘medium-term goal’ – NBU official
Head of monetary policy says hryvnia still being used as “means of savings” during war
The monetary base and seigniorage in a digital era
Rapid technological innovation in payment systems portends declining demand for money. Emerging markets and low-income countries may have to lower their expectations of seigniorage revenue
Policy-makers lament uncertainty following US election
Speakers at Central Banking Autumn Meetings say policies will be marked by unpredictability
Currency Benchmarks 2024 report – securing cash payments
As transactional cash use falls, many central banks are adopting policies to safeguard cash access
US consumers predict growing pressure from inflation and debt
More respondents to NY Fed survey expect to miss payments and to face steeper price rises
Reserve management not just about stability – CBBH governor
Head of Bosnian central bank says fresh approach is required to achieve “stability and returns”
People: New faces on IMF exec board
Plus, appointments at Deutsche Bundesbank and Czech central bank
Doing nothing is ‘least costly’ response to US tariffs – BoF blog
Costs will be borne by American firms and households, Bank of Finland analysis shows
Minneapolis Fed chief shares concerns about tit-for-tat tariffs
Kashkari points to heightened risk of inflation but insists US economy is “strong”
Pablo Hernández de Cos to be next BIS general manager
Agustín Carstens will leave in 2025 after leading transformation project