Donald Trump
Working group minutes: rethinking dollar reserves
Central banks are seeking ways of mitigating geopolitical risk while maintaining dollar exposures
More independent central banks hold fewer dollars – research
De-dollarisation benefits Singaporean and Korean currencies, while Australia’s and China’s lose out
People: Bostic to step down from Atlanta Fed
Plus new appointments in Botswana, Estonia, Slovakia, Singapore and at BIS
What lies beneath China’s SDR proposal?
Experts discuss whether the PBoC’s vision for an SDR-led international monetary system would represent a ‘monetary straitjacket’ or an ideal ‘dollar replacement’
No Fed G-Sib buffer reform in 2025, say experts
Recalibration of method 2 seen as more likely than its abolition; banks resist daily averaging
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
Is independence compatible with climate action?
Lessons from China indicate relationship between governments and central banks may need to change, argues Mathias Larsen
Fed cuts rates with dissenting votes in both directions
Risks to employment and prices split FOMC three ways
Tariffs will not solve US ‘twin deficits’, BdF governor says
Villeroy de Galhau wants to maintain spirit of transatlantic co-operation despite disagreements
Do BIS volumes soar past the trend?
Average daily FX volumes have surged to $9.6 trillion in latest triennial survey, but are these figures representative?
Experts slam proposal for dollar coin bearing Trump’s image
US treasurer’s suggestion attacked as illegal, monarchical and ‘tacky’
Fed should reorganise and speak to counter Trump – Eichengreen
Professor says five-year lag for publication of forecasts is ‘excessive’ in current context
Credible Fed key to dollar’s role in Asia – Amro’s Dong He
Organisation’s chief economist says Asia’s central banks not seeking to disrupt currency’s position in region
How staff exodus could leave the OCC high and dry
A third of staff set to depart US regulator, but some teams will suffer much heavier losses
India maintains wait-and-see approach with rates hold
RBI’s governor says effects of previous easing cycle and US tariffs have yet to play out
FX turnover surges 28% to nearly $10 trillion a day – BIS
Triennial survey finds euro has overtaken dollar in OTC interest rate derivatives market
DFAST monoculture is its own test
Drop in frequency and scope of stress test disclosures makes it hard to monitor bank mimicry of Fed models
Fiscal dominance: are central banks about to be Trumped?
Jagjit Chadha highlights the danger of an ‘upper bound’ on interest rates as fiscal strains grow
Central bankers’ compromised immunity
Just how much legal protection should officials have from spurious lawsuits or wrongful dismissal?
Majority of reserve management strategies unchanged by US tariffs
Some central banks have changed duration or currencies, but for most, business remains as usual
Fed eases by 25bp as concerns grow over US labour market
Experts differ over impact of tariffs on inflation and unemployment