Central Banks
Most RTGS systems projected for upgrade within a year
Two in three RTGSs operating 13–16 hours daily to be upgraded within a year
Book notes: The measure of progress: counting what really matters, by Diane Coyle
The book offers important insights into national income data compilation that are frequently ignored by economists
European Central Bank reduces rates by 25bp
Lagarde hints at pause in next meeting, dispels rumours about early departure
Credit lines help firms absorb tariff shocks – BIS bulletin
Banks can stabilise economy during crises by offering on-demand liquidity, researchers say
Central bank gold buying slows in April
World Gold Council says higher prices may be behind reduced interest
ECB greenlights Bulgaria’s accession to eurozone
Politicians show cautious optimism as Bulgarian central bank governor lays out next steps
Central banks value tokenisation for efficiency and security
Respondents see less value in crypto or stablecoin payments
Chance of US recession lower, but still high – NY Fed study
Authors say model puts chances at 75%, compared with 83% at beginning of 2024
People: April to June 2025
A round-up of central bankers in the news and on the move during the past three months
Jobs, not prices, are main reason for dissent on FOMC – study
Votes show unemployment in presidents’ districts is of greater concern to them than inflation
Palestine launches zero interest-rate loan scheme
Monetary authority announces $10m of support for small businesses in Gaza and West Bank
Trump’s trade policy a ‘wildcard’, says Bostic
Atlanta Fed president says tariffs picture is “unsettled” and calls for patience on monetary policy
BoK paper links real interest rate to demographic shift
Higher life expectancy and lower birth rate exert downward pressure on rates, researchers find
SNB paper shows 5–6% boost in inflation forecasting
Hedged random forest method “consistently outperforms” unhedged approach
Bank notes: April to June 2025
A round-up of news and salient issues that have affected central bankers in the past three months
Budget and RTGS operating expenses rise year on year
Share of central banks charging both fixed and varied fees for RTGS access grows
High profits to cushion against bank losses – Danish central bank
Lenders in good position to deal with tariff turmoil, says National Bank of Denmark
Trade trends favoured China over US even before tariffs – study
St Louis Fed research shows long-term re-anchoring of countries’ trade links between 2002 and 2022
Lawsuits looming against ECB’s climate policy, expert says
Banks could go to court over imposition of daily fines related to environmental prudential rules
Most central banks operate RTGS seven to 12 hours daily
Respondents processed over $6 trillion via system in 2024
Hungarian central bank launches anti-cyber fraud campaign
Governor announces five-step campaign to counteract increasing prevalence of scams