European Central Bank (ECB)
Negative interest rates are last resort – BdF governor
Villeroy de Galhau outlines “order of operations” for deploying monetary policy tools
Ex-OCC chief urges new approach to AI explainability
Michael Hsu suggests shift from academic analysis to decision-based techniques
Do not loosen capital rules, ECB tells national authorities
Central bank says there are no signs that requirements are constraining credit supply in eurozone
Boris Vujčić on Croatia’s economic journey, the digital euro and the Governing Council
The Croatian National Bank (HNB) governor speaks with Christopher Jeffery about managing financial risks, the pros and cons of euro adoption, payment system reform and the use of real-time data
Fragmentation could lead to deflation in eurozone – panellist
Chinese and European exports are converging, firms need to decide between resilience and efficiency
NBFIs can boost EU’s capital markets, expert says
Sintra panellist says savings and investment union crucial to tapping non-banks’ resources
Closer eurozone integration vital in today’s world – ECB paper
Competition from China and US tariffs cited among reasons for closer co-operation between members
No changes to Fed swap lines, Lagarde worried about ‘truth’ – panel
Fed, ECB, BoE, BoJ and BoK governors discuss tariffs, stablecoins, r*, scenario analyses and the future
Climate change among issues that became ‘taboo’ during QE – study
Central banks also exercised “strategic silence” on house prices to avoid becoming politicised
ECB announces dual-track DLT strategy
Short-term programme connecting platforms and Target services to launch in 2026
Finland’s Välimäki on the ECB’s monetary policy framework review
Bank of Finland board member Tuomas Välimäki discusses the benefits of a ‘hybrid’ balance sheet model to provide dependable structural liquidity without distorting markets
Abandoning HICP targeting would help the poorest – paper
Focus on discretionary spending inflation could lower recessions’ effects, Sintra conference paper argues
Home loans with loose standards go sour when rates rise – ECB
Borrowers who “may not initially appear risky” could be swept away in a downturn, bank warns
Recollections may differ on Weimar hyperinflation – ECB blog
Author says first-hand accounts suggest episode was less traumatic than politicians would later claim
Lagarde renews calls for digital euro
ECB president tells lawmakers to “rapidly” introduce legislation for CBDC launch
Central banks must rethink how they speak
Communication is critical for effective policy and social media is not merely a channel of communication, it is a space for dialogue, a feedback loop and a reputational battleground, writes Biagio Bossone
Regulatory confusion hinders euro stablecoins, says DRW founder
Conflicting interpretations of EU rules will divert more capital away from euro assets, says Don Wilson
EBA mulls rule changes to speed up model approval process
Reducing compliance burden of credit risk model updates can aid banks and supervisors
PBoC’s Pan outlines vision for multi-currency international order
Governor describes SDR-based system in which major currencies would “co-exist and compete”
Climate risk could affect both financial and price stability – BdF’s Dees
Head of French central bank’s climate economics unit says monitoring climate risks is vital for fulfilling primary mandate
Overvalued US stocks weaken FCIs’ signal effects – ECB research
Policy-makers should not be blinded by inflated equity prices, authors say
ECB’s Montagner: banks, insurers need separate capitalisation
Insurance arms should not backstop banking businesses in bancassurance groups, top supervisor says
Tariffs do not solve tensions but erode global growth – Lagarde
In speech to the PBoC, ECB president says countries with surpluses and deficits must both try to find solutions
Connectivity makes payments faster and cheaper – panel
Officials at Summer Meetings discuss need to facilitate cross-border payment systems