Central Banks
Bank of Botswana warns of ‘risk spillovers’ to banking sector
Central bank highlights ongoing impacts of banking sector liquidity squeeze
Belgium simplifies capital buffers, increases CCyB by 25bp
Mortgage-specific measure to be folded into single, general buffer
Hungary to receive Argentina-style US swap line, PM suggests
‘Financial shield’ to render EU measures ineffective, Orbán says
Argentina rejects rumours it will adjust exchange rate policy
Economy ministry says it will not make changes to currency band, media reports
Monetary Policy Benchmarks 2025 – executive summary
Data reveals risks to the outlook, applications of scenario analysis and balance sheet policy
Climate risks still underplayed in credit ratings – ECB blog
Sovereign bonds, utilities and automotive and insurance sector securities most impacted by climate
Reform UK’s BoE plans dismissed as ‘Trump-lite’
Former Bank of England officials unconvinced by proposals to fire current governor, change MPC and add growth remit
Tariffs not increasing activity or jobs in US manufacturing – study
Labour supply constraints and increased input costs are holding sector back, say Fed researchers
Ex-BoT governor warns against EMs overusing policy space
Gap exists between expectations and what central banks can achieve in terms of growth, says Sethaput
Bundesbank following US instability ‘very closely’ – Nagel
Central bank president says AI and geopolitics pose risks to financial stability
Ex-governor says Fed should use Treasury derivatives in crisis
Doing so could split response from monetary policy and hedge interest rate risks, argues Jeremy Stein
BoE paper explores redistribution from macro-pru tools
Evidence suggests there are stability benefits but also costs from using borrower-based tools
Czech Republic, Moldova and Norway hold rates
CNB says services inflation is still high, Moldova is recovering and Norway says it is in no hurry
Bailey switches sides as BoE holds at 4% in 5–4 decision
Members’ views, published for first time, show disagreement around staff’s central projection
Carney to direct BoC to administer open banking and stablecoins
PM’s first budget plan includes funding allocation for central bank to administer relevant legislation
ECB to tilt future QE to shorter-term bonds – Schnabel
Collateralised lending to play key role in Eurosystem asset composition
Brazil holds policy at 15% for third time in a row
BCB continues to signal hawkishness despite calls from finance minister to cut rates
Monetary Policy Benchmarks 2025 report – risk-based policy
Benchmarks highlight main risks and how central banks analyse them, as balance sheets normalise
Poland cuts rates, while Albania and Sweden hold
Riksbank warns of US stock market bubble
Bolivia raises $83m in bonds linked to gold prices
Central bank sells instruments directly to retail investors at above-market rate
Central banks speak opaquely to avoid overreaction – ECB study
Authors say institutions tend to communicate more clearly when they know their reputations are low
Cook: US labour market solid, inflation to remain elevated
Governor differs from fellow members of Fed board in first speech since Trump’s attempted dismissal