Asia-Pacific
Over half of central banks employ strategic progress monitoring tools
Just a quarter of jurisdictions evaluate success with external means
AI poses financial stability risks, says RBNZ report
Market concentration among potential sources of instability, research finds
PBoC cuts rates and lowers reserve requirement ratios
China delivers major round of stimulus measures before opening trade talks with US
Central banks rate strategic plan visibility and authority highest
Resourcing tends to be somewhat more challenging across jurisdictions
Taiwan says currency surge unrelated to trade talks with US
Rumours of “Mar-a-Lago accord” causing NT$ appreciation are “false”, central bank says
Third of central banks link staff remuneration to strategic plan
Strategic planners are paid $40,000 on average per year
Strategic plans widely integrated into staff annual reviews
Staffing averages just under five persons in strategic planning units
Bank of Japan holds rates and halves growth outlook
Path to policy normalisation will depend on negotiations with US over tariffs, analysts say
Governing boards approve majority of strategic plans
Departmental heads widely assigned implementation duties
Three in four central banks use dedicated strategic units
Units typically have a direct reporting line to the governor
Events are top channel for strategic plan communication
But over half of plans lack a framework for communication
Digital transformation and payments are major strategic goals
But few respondents prioritise AI or mandate changes
Strategic planning is ad hoc in 10% of central banks
Strategic plan-setting frequency averages 3.8 years across institutions
Strategic plans tend to be built around six key pillars
Central banks split on whether planning is broad or narrow
Most central banks fund strategic plan delivery with standard budgets
Only two-fifths of jurisdictions have dedicated budget for strategic objectives
Bank of Korea holds rates at 2.75%
Growth sluggish and inflation on target but central bank needs more time to judge tariff effects
Inside the week that shook the US Treasury market
Rates traders on the “scary” moves that almost broke the world’s safest and most liquid investment
Philippines resumes easing cycle with quarter-point cut
Inflation slows but growth risks increase amid “more challenging” external environment, BSP says
Iraq launches plan to reform banking sector
Central bank says programme will enhance financial inclusion and raise productivity
PBoC backs state fund’s efforts to stabilise stock market
Chinese central bank also fixes currency at lowest level since September 2023
Indonesia to ‘aggressively’ shore up currency amid tariffs
Central bank will intervene in FX market once it re-opens following week-long holiday
Central bank gold purchases up in February
Emerging markets lead accumulation of precious metal
Australia moves forward with ‘ample reserves’ framework
RBA raises price of short-term repo and encourages lenders to recycle liquidity in private markets
Salary still poses greatest challenge for recruitment
Staff morale constitutes lowest constraint but is a concern for some central banks