International
Anchor tokenisation in central bank money, says BIS’s de Cos
General manager uses Jackson Hole speech to champion tokenised deposits and reserves over stablecoins
Economists design stress-test model of dominant currency
Geopolitical shocks can disrupt its hegemony, but dollar remains secure, NBER paper finds
China’s growth model may deepen tensions with US – paper
PIIE research says economic policies driven by ‘national security logic’ may be contradictory
Three veterans join Central Banking advisory board
New members have held top roles in Asia, Europe and the US
Nepal has greater stability, but now it needs growth – IMF
Fund’s mission chief says central bank reforms are among measures laying path for future prosperity
IMF paper details system-wide stress-testing methods
Economists propose adding data on bank-NBFI links and details of market microstructure
Reconsidering the role of money in monetary policy
Euro policy architect Otmar Issing argues that central banks must improve their flawed inflation targeting frameworks
Europe’s main asset in digital race is its size, says Lagarde
ECB president says domestic barriers must be lifted so start-ups can drive innovation
Tariff-induced inflation pressure begins to recede in US – study
Lower effective levies are translating into slower consumer price growth, St Louis Fed researchers say
People: BoJ payments chief to join IMF
Plus: Australia appoints new monetary policy board member; Harrison to head comms at BoC
ECB speeches ‘twice as religious’ as other central banks’ – blog
Bank’s speechwriters use devotional tropes during times of crisis, LSE research finds
Comms staff need to reflect on how their messages are perceived
BoE’s Eric Tong discusses research probing how the public receives central bank messages via the media
Brics in talks to link CBDCs and payments, says RBI governor
Central Bank of Brazil hunkers down on integrating Pix with other fast payment systems
PBoC appoints Deutsche Bank as a renminbi clearing bank for Europe
China’s central bank reiterates pledge to internationalise RMB as part of its five-year plan
Central Bank of Brazil delays crypto transfers to fight fraud
Latin America’s largest economy targets stablecoins after Trump’s tariffs against Pix
Yield curve data can improve estimates of r* – IMF paper
Results suggest r* has risen and help explain ‘soft landings’ after inflation surge
PBoC reportedly vaulting more gold in Hong Kong
Report comes as city conducts trial run on gold clearing system and aims to become international bullion hub
ECB succession race: Netherlands throws weight behind Knot
Former DNB governor receives official backing
New York and Dallas Feds to launch private credit survey
Firms with over $50 million invited to discuss lending standards and monetary policy implications
Anchoring expectations ‘critical’ in energy shock – BIS researchers
Most significant shock since the 90s Gulf crisis “may warrant hiking rates more quickly”
Strained public finances may trigger ‘great repression’ – paper
IMF study of a century of data on financial repression finds the tactic is tempting governments again