Central Banks
Stablecoins will not revolutionise money, says BIS
But a “trilogy” of tokenised assets on a unified ledger might, organisation concludes
Recollections may differ on Weimar hyperinflation – ECB blog
Author says first-hand accounts suggest episode was less traumatic than politicians would later claim
Bowman is latest Fed member to call for July rates cut
Vice-chair for supervision joins Waller in saying risks to growth outweigh risks to inflation
Central banks must rethink how they speak
Communication is critical for effective policy and social media is not merely a channel of communication, it is a space for dialogue, a feedback loop and a reputational battleground, writes Biagio Bossone
FX hedging behind April’s dollar slide – BIS bulletin
Treasury sell-offs not correlated with greenback’s depreciation, authors argue
Lebanon increases monthly withdrawal limits
Central bank aims to ease pressures on depositors amid ongoing financial crisis
Tariffs cannot fix US trade deficit, says Taiwanese governor
Central bank chief flags stateside fiscal risks but says dollar-based order still intact
US stablecoins pose ‘severe risks’ to monetary sovereignty – paper
Assets threaten stability in eurozone and global south, authors find
Payments Benchmarks 2025 – executive summary
The benchmarks highlight continued progress in boosting cross-border payments
Paraguay’s Carvallo Spalding on resilience and cutting its inflation target
The Central Bank of Paraguay (BCP) governor speaks about lowering the inflation target to 3.5%, opening up to foreign investors and promoting inclusion through digital payments
FSB warns of liquidity stress in CRE markets
Opaque valuation and high leverage among vulnerabilities in $12 trillion property sector
Turkey holds policy rate at 46% as inflation trend moderates
MPC maintains tight stance to anchor disinflation and restore price stability
Bailey ‘remains to be convinced’ about retail CBDCs
BoE governor adds that stablecoins must “pass the test of singleness of money”
China holds key lending rates as expected
Central bank keeps one- and three-year LPRs at 3% and 5% respectively
Working group minutes: a phased approach to 24/7 RTGS
Longer hours imply risk trade-offs and need to overcome resistance from banking industry
Norway, Sweden and Switzerland cut, while Moldova holds
Swiss and Nordic banks ease policy by 25bp
Brazil raises policy rate to 15% and signals ‘prolonged’ hold
BCB makes seventh consecutive hike; inflation trends downwards but still above target
UAE and China to enhance cross-border payments
Emirati central bank signs MoU with Cips to streamline bilateral financial transactions