Central Banks
Target inflation traditionally, G30 tells Fed
Working group says its proposed changes to Fed framework might prevent repeat of 2023 banking crisis
French expertise is essential to Lebanon recovery – BdL governor
Central bank head meets Villeroy de Galhau in Paris as part of efforts to tackle economic crisis at home
Bank of Japan holds rates and halves growth outlook
Path to policy normalisation will depend on negotiations with US over tariffs, analysts say
ECB removes need for governing council to approve CCP facility
New “automatic” facility will require safeguards that are “still being implemented”, bank says
Strategic control often operates on quarterly cycle
Banks with centralised strategic planning also tend to centralise strategic control
Working group minutes: refining forecast models
Central bank economists discuss challenges of tackling errors and integrating new model features
Stress tests stronger in EU than in US – BdF research
Lenders remain well capitalised in both regions but European banks are more resilient, study finds
Post-Covid inflation in US mainly driven by demand – study
Author says findings help account for Fed’s difficulty in achieving 2% target
Nigeria simplifies documentation for pan-African payments system
Revised process will affect PAPPS payments of up to $2,000 for individuals and $5,000 for businesses
SNB introduces new liquidity provision framework
Reformed facility will be less “emergency” in nature and accept broader pool of collateral
UK government ‘must act against decline in cash acceptance’
Parliamentary committee suggests firms could be made to accept cash to protect those who rely on it
Governing boards approve majority of strategic plans
Departmental heads widely assigned implementation duties
BoE plans to link system-wide and individual stress tests
Meanwhile, ECB wants to broaden system-wide stress models to include central counterparties
Six in 10 at ECB do not trust Lagarde – staff union survey
Survey shows frustration at career progression, employment uncertainty and HR over past decade
Inflation expectations survey flashes warning signs in US
University of Michigan report, cited by Fed officials, says outlook had dropped in tandem with tariffs
Next phase of BoE RTGS project aims for atomic settlement
New platform settled £778 billion on first day of operation, deputy governor says
Pakistan points to progress on inflation, reserves and growth
Central bank says tight monetary policy and IMF support will underpin recovery, but risks remain
Regulation should be ‘smarter’, not ‘less’ – ECB’s Donnery
Financial resilience cannot be sacrificed under banner of simplification, senior supervisor says
Three in four central banks use dedicated strategic units
Units typically have a direct reporting line to the governor
Yen rates losses from tariff drama top $1 billion
Losses came from forced unwinds of bets on BoJ rate rises
Eurozone fiscal policies grew real GDP, dampened inflation – ECB
However, Covid-era policies led to higher deficits and debt in years following pandemic, research finds
‘Liberation day’ likely to cause US recession – NBER study
Paper sets out conditions for tariff-driven downturn and says US is likely to meet them
BoE’s RTGS service update goes live
Renewal expands access to payments infrastructure, with increased focus on cyber resilience
Lebanon to introduce new banknotes
Parliament authorises issuance in response to high inflation and long-term depreciation of pound