Central Banks
Economists lambast Cook’s ‘firing’ for lack of due process
Expert says if Trump succeeds it will be the end of Fed independence; governor sues to void presidential order
South Korea planning to revive paused CBDC programme
Bank of Korea’s Rhee says CBDC may be used to distribute government subsidies
Belize clarifies moneylender annual fees cap at 144%
Central bank says it is striving to reduce overall fees, improve transparency and cut predatory lending
Thai central bank warns country’s SMEs vulnerable to US tariffs
Bank of Thailand monetary policy committee signals further easing likely, minutes show
A not-so-stable Genius Act?
New stablecoin rules raise monetary sovereignty and financial stability concerns
Bank notes: July to September 2025
A round-up of news and salient issues that have affected central bankers in the past three months
Professor says Fed must defend its post-Covid credibility
Jackson Hole speaker Emi Nakamura talks credibility, tariffs and independence
Philippines eases policy 25bp to 5% ‘Goldilocks zone’
BSP governor says one more cut likely this year as bank cites risks posed by US trade policy
BoK economists discuss policy responses to ‘super ageing’
In Do Hwang and Boreum Kwak speak about the actions South Korea should take as critically low birth rate limits central bank’s policy space
Financial Stability Benchmarks 2025 report – the threat from tariffs
Benchmarks highlight how many central banks see tariffs as a high risk to financial stability
Teach people monetary policy to anchor expectations – ECB paper
Experiment run at ECB visitor centre finds strong impact from education
Yield spreads of bonds held by mutual funds decline in QE – ECB paper
Bond purchase programmes compress risk premia and boost demand, research finds
BoC will continue targeting inflation at 2%, governor says
Guidance is well understood and provides stability in uncertain times, argues Canada’s Macklem
Firing Cook is not going to be easy, legal experts say
Some scholars criticise the US president’s move, but others say there may be grounds for dismissal
BIS’s Hernández de Cos tells central banks to be realistic
Policy-makers should make clear what they can and cannot do, says new general manager
Trump tries to remove Fed governor Lisa Cook
President says mortgage applications by Cook constitute “due cause” for her removal
Aging population may improve fiscal sustainability – paper
More old people means more money to invest in assets like government bonds, researchers point out
Hong Kong allows collateral reuse in offshore yuan bond repos
HKMA says changes will increase offshore participation in mainland China bond market
The next step for Africa’s digital economy: fast, inclusive payments
Central banks should lead policy for a payments transformation that benefits all levels of society, argue Jean Pesme and Michael Wiegand
Powell indicates policy shift at Jackson Hole
The Fed chair says the balance of risks appears to be shifting; FOMC no longer plans to overshoot inflation target