Central Banks
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
Bank of Finland makes renewed case for instant payments system
Solution would strengthen national security, bank says
East Africa governors discuss delayed single currency launch
Leaders adopt “masterplan” to modernise and integrate payments systems
Eurozone monetary policy must remain ‘firmly’ neutral – Schnabel
ECB board member cautions against overreacting to undershooting
Bank of Burundi issues ‘world’s largest banknote’
Commemorative bill measures 400mm by 288mm and is on sale at €2,200 apiece
Rate hikes have created debt-servicing difficulties – ECB study
Research also points to overall robustness in eurozone’s household lending sector