Central Banks
Bangladesh Bank moves towards flexible exchange rate
Removal of restrictions part of conditions for securing additional IMF funds
ECB intervention stabilised debt market during Covid – research
Study by bank’s economists says firms found it harder to issue commercial paper later on
Strategic Planning Benchmarks 2025 report – charting a path
The first strategic planning benchmark sheds light on department structure, control methods and KPIs
Iran to remove four zeroes from its currency
Central bank says measure will come into force later this year as country battles high inflation
German and Spanish governors criticise US policies
Nagel defends Fed independence, while Escrivá cautions against excessive deregulation
Fed researchers call for new definition of ‘unbanked’
Economists support paper’s more nuanced approach, but caution against dropping current terminology
BoE to consult on promoting clearing for gilt repo market
Deputy governor also takes aim at bilateral repo haircuts and cross-CCP netting
Hungary to change central bank law
Amended legislation would increase size of monetary council and ban creation of new foundations
Book notes: Smart money: how digital currencies will win the new Cold War, by Brunello Rosa with Casey Larsen
This alarmist book, although lacking nuance, provides a lucid account of how CBDCs could play a decisive role in geopolitical dominance
Korean officials argue for stablecoin authorisation body
Central bankers warn of currency substitution and monetary policy risks
BoE’s mandate may be too broad, warns Mervyn King
Former governor chats with Paul Tucker on independence and central banks’ optimal remit
Tariffs already raising US inflation – Fed study
Researchers say trade policies were starting to affect consumer prices in March
Brazil and China agree currency swap line
BCB says it is in talks to establish similar arrangements with other central banks
Iran launches second phase of payments link with Russia
Iranian stores to accept Russian bank cards via mobile app
EBRD outlook turns gloomy after US tariffs
“Not a very happy picture” for world economy, says institution’s chief economist
Ex-BoE official calls for active monetary response to gilt shocks
Clear framework needed to address government bond market volatility, Sushil Wadhwani argues