Central Banks
Nexus’s new CEO on the future of the cross-border payments platform
Nexus Global Payments CEO Andrew McCormack discusses the multi-lateral instant payments system’s technical build-out, governance and launch strategy
Cook wins latest round in battle against dismissal from Fed
Court rules that Trump does not appear to have sufficient grounds to fire governor ‘for cause’
AI ‘explainability’ a growing problem for supervisors – paper
Better guidance may be needed on model risk management, Basel-based FSI says
US faces recession unless trade tensions abate – economists
Experts expect Fed to cut rates as economy experiences first job losses since 2020
IMF model links banks’ liquidity and capital adequacy rules
Lenders balance liquidity and solvency risk, paper says
Canada set to cut rates, given soft labour market – economists
Concerns over rising unemployment outweigh stagflation risks, say experts
ECB working to simplify banks’ annual health checks – Donnery
Srep will become more tailored to lenders, says supervisory board member
How FX pricing is adapting to Trumpian markets
Dealers are tying pricing engines to new signals in effort to cope with out-of-the-blue moves
The weaponisation of payments
Central banks must integrate geopolitical resilience into their payment oversight, argues Biagio Bossone
Two in five large reserves holders reduce dollar allocations
Yet central banks’ FX holdings remain broadly denominated in US currency
Bar for going back into negative rates is high – SNB chair
Schlegel says impact on pensions and savers means caution would be warranted
Nexus will connect at least three Asian countries by 2027 – CEO
Company expects to announce winning bidder for contract to build payments platform by year’s end
China and eurozone renew €45 billion liquidity line
ECB says three-year swap deal will protect against disruptions in renminbi market
People: Former RBI governor appointed to IMF
Plus: Blyth replaces Bowe on BoE’s FPC and WGC teams up with Elton John
Reserve managers widely satisfied with staff strength and resources
Large reserve management teams tend to earn higher salaries
World Bank report says going green makes economic sense
Authors tie employment, resources and productivity to environmental health
Miran claims climate work is real threat to Fed independence
Nominee would ‘forcefully push back’ on bank incorporating global warming risks in its assessments
DNB calls for ‘structural solutions’ to varying eurozone inflation
Rebalancing effect of eurozone’s uniform monetary policy is “slow and incomplete”, central bank says
Poland cuts rates by 25 basis points
Economy continues to grow thanks to domestic demand, central bank says
More economists expect MAS to ease policy next month
Singapore survey finds most still expect no change to country’s currency exchange band
Senate unlikely to replace Cook during litigation
Republicans on key committee will not consider nominees until court rules on legality of her dismissal
The investors who aren’t fretting over Trump’s stat sulk
Some see dismissal of statistics agency chief as an assault on US institutional integrity; for others it offers a chance to throw off outdated methods
Ethiopian governor resigns
Mihretu to leave central bank following two years characterised by major economic reforms