European Central Bank (ECB)
Banque de France and HKMA to conduct cross-border CBDC test
HKMA is the first non-European central bank to join the Eurosystem’s wholesale DLT settlement trials
ECB, EBA and Eiopa publish data point model agreement
Framework aims to maintain and streamline methods of reporting supervisory data
Fed needs more evidence to cut rates – Powell
Lagarde tells same Sintra panel that services inflation is making disinflation “bumpy”
Eurozone ‘soft landing’ still not guaranteed, warns Lagarde
ECB president says costs of disinflation are contained better than in the past
Build up CCyB gradually over financial cycle, says ECB paper
Even partially built-up buffers help during a shock, researchers argue
Digital euro ‘may require’ battery-powered cards for offline use
Eurosystem could develop its own app to manage digital euro accounts
ECB paper presents new measure of bank performance
“Bank edge” compares individual banks’ book returns to benchmark portfolio
BIS and BoE launch project to simplify FX transactions
Project Meridian FX seeks to link RTGS and DLT systems
Central Banking Awards 2024 ceremony honours best in field
Shirakawa receives lifetime award and Brazil is named central bank of the year
Supervisors must embrace technology – ECB’s McCaul
Data is “growing exponentially”, so supervisors must innovate to track risks, supervisory board member says, as SSM digitalisation enters ‘phase 2’
BoE reserves framework drawn into political arena
Minor party’s proposal to axe interest on reserves highlights BoE’s costly operating framework
ECB penalises European banks for not meeting climate risk deadline
European real estate market remains a concern but banks are in a “robust” position, Jochnick says
ECB appoints three senior officials to supervisory board
Irish, French and Portuguese trio to replace current members by the end of the year
ECB cuts policy rate by 25 basis points
Strong eurozone wage growth rules out commitment to further cuts, says governing council
Banknotes: April to June 2024
A round-up of news and salient issues that have affected central bankers in the past three months
Are low-level inflation targets still fit for purpose?
Geostrategic shifts make the case for a narrow price target less compelling
Book notes: Balance of power: central banks and the fate of democracies, by Éric Monnet and translated by Steven Rendall
This short book offers partial insights, but ultimately underwhelms
QE should stabilise rather than stimulate – ECB’s Schnabel
Asset purchases have become conventional, but central banks should exercise caution
ECB is ready to cut rates, chief economist says
Next steps in ECB’s easing cycle will be “bumpy” and “gradual”, says Philip Lane
Risks facing central banks: action and inaction
Unlike Fed policy in the 1990s, central bank actions this century do not appear overly accommodative, given poor policy decisions elsewhere, writes Andrew Smithers
ECB paper recommends central fiscal instrument
Governments’ ability to delay fiscal consolidation should be limited, researchers argue
ECB paper uses RCT data on inflation expectations
Consumers’ level of attention is determined by economic environment, research finds
Paper finds link between housing costs and inflation expectations
Housing inflation expectations exceed other measures – National Bank of Belgium research
Eurosystem completes first DLT experiment
Austrian central bank settled “mock transaction” on distributed ledger technology