Central Banks
Egypt eases policy by 100bp
Central bank cuts benchmark rate to 24% and expects to meet inflation target in Q4 2026
Russia’s neighbours work to enable digital offline payments
Central banks in Nordic and Baltic countries prepare back-up plans in event of major internet outages
Supply chains more normal than they seem – Richmond Fed study
Research says index compiled by New York Fed points to business as usual
US faces mounting costs if trade war escalates – study
Fed economists monitor effect on asset and consumer goods prices under blanket 25% tariff
Book notes: The political economy of central banking, by Alessandro Roselli
Roselli’s book offers a comprehensive history of the relationship between governments and central banks
BoJ official sees no need to act against rising JGB yields
Bond taper plan should continue as price movements not disruptive, board member says
Tariffs not the only policy causing uncertainty – Fed presidents
Officials highlight risks from US administration’s approaches to deregulation and immigration
US citizens increasingly reluctant to relocate – study
Richmond Fed research cites multiple causes, including narrowing gender gap and seniors’ wish to stay put
Sri Lanka cuts benchmark rate to 7.75% as deflation persists
Central bank projects inflation will move into positive territory during third quarter
IMF officials call for central clearing of sovereign bonds
“More work needed” to enhance structural resilience in core markets, researchers say
Navigating volatile markets: a rule book for fixed income investors
A framework that measures indicators to assess investment in US Treasuries, US credit, European debt and emerging markets debt
Maurice Obstfeld on the trade war’s damage to the monetary system
The former IMF chief economist speaks about Trump’s chaotic economic policies, the erosion of Fed independence and dollar stability, difficult policy trade-offs for central banks, and the threat to the Bretton Woods institutions
Strategic Planning Benchmarks 2025 – model banks analysis
Data breakdowns reveal differences in strategic goals, department structure and salaries
Sarb official warns of risk in RSA sovereign bond holdings
Banks must consider interest rate risk when buying South African government debt, head of stability says
ECB says tariff shocks ‘continue to reverberate’
Stability review says risk of slowdown has “increased markedly”, though banks are better placed than in 2008
Nigeria keeps policy rate at 27.5%
Bank makes second consecutive hold as inflation declines, and cites alarm over trade policy uncertainty
Failure to appoint deputies ‘a step back’ – Montenegrin central bank
Bank will “continue to implement its mandate” despite parliament not approving its candidates
Climate stress tests should involve industry – BdF official
Bottom-up approach enables banks and insurers to capture environmental risks, says Laurent Clerc
Egypt’s central bank expects inflation to halve from 2024 levels
Projection comes ahead of this week’s rate decision
Banks should ‘regularly’ assess clients’ exposure to tariffs – ECB
Rising trade tensions threaten financial stability, bank’s economists say
Syria’s change of printing press reflects wider shift – expert
Reported move of note production from Russia points to an increased willingness to open up to West
Growth in US CRE loans hits 11-year low – research
St Louis Fed study says developers responding to higher costs and lower demand
Muted consumer sentiment may not presage low US growth – study
Kansas City Fed research says people’s pessimism does not automatically mean they will spend less