International
People: Williams to continue leading BIS markets committee
Plus appointments in Baltics and departures at Bank of Canada
Debt metrics fail to reflect financial instability – BIS paper
Author says standard measures of government debt sustainability omit key market dynamics
For collateral, can TINA become TIA?
US Treasuries’ dominance as collateral in repo and derivatives is no longer set in stone, argues economist
Geopolitics becoming ‘key risk’ for central banks – panel
Experts at ECB conference say political upheaval now a greater concern than price growth
Iran war and persistent inflation will derail policy – panellists
Former St Louis Fed president joins ECB and BIS’s chief economists in outlining future paths
Economists expect BoK to tilt hawkish under Shin
Expert says new governor to bring ‘distinctly BIS-influenced framework’ to South Korean central bank
Hyun Song Shin nominated as Bank of Korea governor
BIS’s former top economist says he will helm central bank at ‘critical juncture’
Lifetime achievement award: Mervyn King
The former BoE governor helped restore UK monetary policy credibility, played a central role during the global financial crisis, and has made significant contributions towards better bank oversight and economics
Czech Republic, Moldova, Sweden and Ukraine all hold
Riksbank also lowers rate for supplementary liquidity facility as liquidity starts to dry up
SNB holds rates, vows to fight franc appreciation
Bank says short-term inflation pressures are high but will remain ‘virtually unchanged’ in medium term
Financial services: Citi
The US bank has striven to provide clients with high-level advice as well as service breadth, technical expertise and execution
Hélène Rey to head BIS monetary and economic department
Scholar of international monetary system will replace Hyun Song Shin later this year
NBU tells banks to avoid Hungary after cash and gold heist
Hungarian government official explicitly ties asset seizure to dispute over stricken oil pipeline
Governor of the year: Jerome Powell
The Fed chair has shown high levels of integrity and resolve in upholding his public duty in the pursuit of price stability and maximum employment
PBoC plans more market-based monetary policy formulation
Analysts expect Middle East conflict to have little impact on policy in China
Book notes: The doom loop, by Eswar S Prasad
A persuasive analysis of a new world disorder that will bring an end to central bank independence
Asian central banks prepare for conflict-induced energy shock
IMF’s Georgieva says Iran war creates energy and confidence risks for most of region
How will Europe’s central banks react to the Middle East crisis?
ECB unlikely to veer from rate path as it had expected to undershoot during 2026
Swiss National Bank’s profits down in 2025
Losses on FX holdings dwarfed by gold gains to enable bank to post Sfr26.1 billion profit
Book notes: Before the Fed, by Jon Moen and Mary Tone Rodgers
A significant contribution to understanding private-sector financial crisis responses, relevant to today’s lender-of-last-resort function
ECB posted €1.3bn loss in 2025
Reserves grew by €13.6bn while central bank thinned balance sheet by €37.3bn
Monetary dominance depends on comparative advantage – paper
Money that is ‘too good’ as a store of value may not circulate, authors say
Monetary policy in Asia since the pandemic
Asean+3 nations must plan to tackle ‘disturbance’, ‘structural’ and ‘radical’ uncertainty using a disciplined policy mix to preserve price stability amid global shocks, writes Dong He
Lagarde downplays odds of early exit
ECB president uses interviews to say she is on a ‘mission’ with a ‘baseline’ of serving out her term