Central Banks
Boris Vujčić on Croatia’s economic journey, the digital euro and the Governing Council
The Croatian National Bank (HNB) governor speaks with Christopher Jeffery about managing financial risks, the pros and cons of euro adoption, payment system reform and the use of real-time data
Fragmentation could lead to deflation in eurozone – panellist
Chinese and European exports are converging, firms need to decide between resilience and efficiency
Eastern Caribbean Central Bank posts record profit for 2024–25
Monetary authority says tally exceeds previous record by 57%
Replacing migrant labour will prove costly for US agri – research
Study by Kansas City Fed says farm operators may respond by shifting to foreign production
Tokenised MMF market ‘small’ but could create contagion – BdF
French central bank calls for international co-operation to regulate new assets
Systemic banks prioritised in onsite inspections
Supervisors’ activities commonly include interviews, reviews and verifications
Book notes: The young Fed, by Mark Carlson
A thoughtful book on an important topic and a less widely studied period of US financial history from which every central bank economist could learn
SBP’s RTGS/CSD system has AI and sharia-compliant focus
Pakistani central bank’s tech provider explains functionality behind Prism+
NBFIs can boost EU’s capital markets, expert says
Sintra panellist says savings and investment union crucial to tapping non-banks’ resources
More adjustment needed to JGB purchases – BoJ board member
Takata says current plan will increase supply to early 2000s levels, with potentially destabilising effects
Closer eurozone integration vital in today’s world – ECB paper
Competition from China and US tariffs cited among reasons for closer co-operation between members
Onsite inspection frequency tailored to individual firms’ risk profiles
All authorities in high and middle income countries engage in risk-based exercises
Geopolitical ructions and the role of the dollar
Implications of the new US administration’s policies for the international monetary system and central banks
No changes to Fed swap lines, Lagarde worried about ‘truth’ – panel
Fed, ECB, BoE, BoJ and BoK governors discuss tariffs, stablecoins, r*, scenario analyses and the future
Book notes: Our dollar, your problem, by Kenneth Rogoff
An excellent overview of the evolution of the world economy during the last seven decades, and a warning against complacency
Economists denounce Trump’s ‘bullying’ of Fed chair
Experts also back Powell’s assessment rates would probably be lower were it not for tariffs
Central bank gold purchases rise in May
WGC says net purchases hit 20 tonnes as appetite among monetary authorities remains strong
Hong Kong intervenes once again to protect currency peg
Intervention is HKMA’s second at weak end of HKD/USD band in less than a week, with more likely
Climate change among issues that became ‘taboo’ during QE – study
Central banks also exercised “strategic silence” on house prices to avoid becoming politicised
Pillar 2 supervisory requirements broadly decided at national level
Only 15% of authorities operate regional supervision offices