Europe
ECB and BoJ officials reject explicit forward guidance
Central bankers promote ‘meeting-by-meeting’ approach to rates setting
Geopolitics and supply shocks top monetary policy risks outlook
Risk factors vary by nominal anchors and geographical regions
Lagarde calls for EU-wide clean energy strategy
Integrated capital markets to finance affordable and sustainable sources of power, ECB president says
Committees of exchange rate targeting central banks meet most often
Inflation targeters have the average highest number of committee members
EBA chief urges global action on multi-issuance stablecoins
Reserves backing currency should move “seamlessly” across borders to enable fungibility, says Campa
ECB staff union sues central bank over gag orders
Union alleges that ECB leadership sought to block representative from speaking
AI, low productivity, and trade in focus at G30
Georgieva, Bailey and Lagarde speak on stretched AI evaluations and distortionary trade policies
Let risks stay in non-bank sector, says EU official
Regulators and experts discuss solutions to financial activities migrating outside banking system
Targeted liquidity facilities decline year on year
Lending to small businesses and other goals are top criteria for access
EBA’s Campa on simplifying EU regulations and supervising stablecoins
The departing pan-European supervision chief speaks about advancing the banking union, streamlining the implantation of new rules, financial resilience and why he is stepping down early
BoE paper offers methods for policy-making under uncertainty
Forecast-based, news-based and rules-based methods can be used together, authors say
Top officials weigh impact of trade war and AI
ECB president says impact of US tariffs has been “exact opposite” of expectations
Central banks’ asset purchase programmes thin out further
One in five inflation targeters still use scheme, but most plan to taper purchases
Stability before competitiveness, say supervisors
ECB’s Donnery and BIS’s Restoy discuss merits of imposing secondary mandate on growth
Most monetary policy units sufficiently resourced
Macroeconomic analysis and research duties are officials’ top functions
Tariffs will not solve US ‘twin deficits’, BdF governor says
Villeroy de Galhau wants to maintain spirit of transatlantic co-operation despite disagreements
Digitisation of money brings more regulatory risks – IMF head
Georgieva says crypto regs are in early stages and not yet coherent internationally
Monetary policy staff annual pay rises year on year
Divisional budget averages less than $10 million a year
Middle income monetary policy teams comprise more junior staff
Monetary policy FTE employees average nearly 40 individuals across central banks
Norges Bank introduces new tool to reduce excess liquidity
‘Central bank certificates’ to supplement quotas, F-loans and F-deposits from 2026
ECB disputes PwC estimate of digital euro implementation costs
Lenders will need to spend around the same as they did implementing PSD2, central bank argues
Chief risk officers: a critical function or a distraction for central banks?
Institutions are divided on whether the role is needed, but it is becoming more common
ECB says digital euro would not disrupt financial stability
Lenders remain healthy under modelled crisis scenario, regardless of CBDC’s holding limits
Rising temperatures raise inflation expectations – ECB paper
Global warming also leads to greater pessimism about growth, research finds