Central Banks
Barry Eichengreen on the evolution of the global monetary order
The US monetary expert speaks to Thomas Chow about similarities between the dollar and 18th century Dutch money and why Washington has bet on the ‘wrong horse’ with private stablecoins
Payments Benchmarks 2026 report – upgrades and alignment
Many payments upgrades are in the pipeline as central banks look for efficiency and interoperability
Fed holds rates in first meeting under Kevin Warsh
FOMC drops easing bias and forward guidance, as chair announces taskforces to improve Fed operations
More than $1.4tn of daily FX trades face Herstatt risk – BIS study
Only around a third of transactions fully eliminate settlement risk by using PvP
Trust must remain bedrock of monetary system – panel
Speakers emphasised need for regulatory alignment and common standards as payments evolve
Chile holds rates for fourth time in a row
Policy-makers say balance of risks to inflation is shifting towards equilibrium
Riksbank holds, but keeps option to hike on the table
Updated forecast builds on assumption that oil supply will begin to normalise ‘in the near term’
Uganda announces next step towards ‘cashless’ society
Central bank says limits on withdrawals are part of strategy to fully ‘digitise’ payments system
Jim Bullard on Kevin Warsh’s first FOMC and Fed independence
The Federal Reserve veteran speaks with Christopher Jeffery about Iran and the US economy, the ‘good' AI bubble, cutting the Fed’s balance sheet and staff, and the need to clarify swap rules and recapitalise the regional Feds
Markets react more to macro news in uncertain times – study
Monetary policy uncertainty amplifies bond yields’ response to data releases, BIS paper says
DRC’s FX upgrade part of efforts to boost currency – governor
Wameso says central bank is pursuing modernisation agenda to strengthen the financial system
Geopolitics drive continued central bank gold buying – WGC
Institutions expect global holdings to rise, though most say they do not plan to buy more themselves
Central banks must adapt to new technologies – panel
Speakers also discussed disaster planning and cloud sovereignty
BoJ tightens to 1% and plans end to JGB purchase reductions
Governor absent as bank sets policy at 31-year high amid inflation risks driven by Iran war
RBA holds policy and says inflation is ‘too high’
Australian governor hawkish amid concerns of embedded inflation expectations
Zoltán Kurali on Hungary’s reserves strategy and euro adoption
Deputy governor speaks about portfolio positioning amidst geopolitical volatility, AI, CBDC and the future of the forint
Tokenisation poses monetary operations challenges – panel
Officials tell Central Banking London Meetings that 24/7 markets can bring new dilemmas
Domestic growth unlikely even if Germany wins World Cup – Nagel
Bundesbank president says momentum will pick up by 2028 and calls for further deregulation
Understand technology to gain digital sovereignty – panel
Avoid vendor lock-ins and prioritise critical functions in governance strategy, experts say
Dollar’s reserve currency status worth $33 trillion – paper
Loss of exorbitant privilege would lead to dollar depreciation and rise in real interest rates
People moves: Adrian to step down from IMF
Plus senior appointments in Belgium and Botswana
Singapore to introduce gold storage for central banks
MAS plans OTC clearing in local time, gold financial products and other bullion-related initiatives
Peru holds rates amid too-close-to-call election
BCRP says effects of supply shocks that drove inflation will dissipate
Austria and Finland warn of Iran war’s impact following ECB hike
Higher energy prices are slowing growth and raising inflation, central banks say