Research
Norges Bank says third of crypto owners had ‘negative’ experience
Biannual survey shows most Norwegians have never heard of DeFi or stablecoins
Economists find ‘strong and stable’ Phillips curve in China
Past studies had struggled to pin down a clear link between inflation and output in the economy
Liquidity rules partly pay for themselves – BIS paper
Banks benefited from lower funding costs after implementing the liquidity coverage ratio, authors find
QT does not produce opposite effects to QE, evidence suggests
BoE study considers implications of 1980s ‘overfunding’ for policy-makers today
Official lending replaces private capital during crises – paper
Public creditors charge below-market interest rates on loans to sovereigns in crises, NBER study finds
Economists use AI to expand data on cross-border flow limits
IMF paper draws lessons from 40,000 policy moves designed to control financial flows
Reserves shifting from deposits to securities – paper
Pattern may be evidence of ‘mercantilist’ motivation for excess reserve accumulation
Dollar’s centrality in FX markets makes it more volatile – study
Greenback’s use as ‘vehicle currency’ makes it more sensitive to external shocks, economists say
G7 central banks warn quantum is in ‘early stages of experimentation’
Readying financial system for Q-day is ‘not a simple substitution exercise’, say authorities
Geopolitics complicates stablecoin adoption, BIS paper finds
Weaponisation of financial infrastructure may hinder digital dollarisation, say researchers
Carry trades explain FX response to rate hikes – BIS bulletin
Value of funding currencies surges after surprise tightening as investors unwind positions, study shows
Instant payments gaining volumes from RTGS – BoE study
Move may be driven by demand for rapidly available funds and lower payment fees, say authors
NBFI oversight ‘no longer adequate’, say BdF economists
Researchers call for stronger supervision of non-bank sector ‘before risks actually materialise’
Cash remains king during extreme weather events – study
Payment system resilience relies on fallback options during digital outages, authors argue
Regulators must adapt to monitor AI risks in payments – paper
IMF authors point to tension between probabilistic agents and payment systems’ deterministic needs
BIS paper sounds alarm on gaps in crypto intermediary regulation
International co-operation a challenge as expanded activities risk contagion, authors say
Hedge ratios help explain swings in dollar – BIS study
Data on eurozone funds helps explain currency’s reaction to tariff announcements, authors say
Firms slowest to adjust to Sarb’s new price target – paper
Memories of post-pandemic inflation surge linger, researchers say
IMF paper examines how to make stablecoins more stable
Authors propose ways of reducing run risks without removing incentives for issuance
Algorithmic pricing not yet a ‘menace’ to inflation – BoE study
Dynamic and personalised pricing may upend CPI measurements and expectations, research says
Crypto assets behave more like investments than money – study
Most owners are not using securities for payments and turn to cash in times of uncertainty