Central Banking
China’s cross-border clearing system expands to 189 countries
PBoC deputy governor Lu Lei says Cips processed $12.7 trillion of payments in H1
Brazil holds rates at 15% with hawkish guidance
Rate-setters say they would “not hesitate to resume” hiking cycle if necessary
Fed eases by 25bp as concerns grow over US labour market
Experts differ over impact of tariffs on inflation and unemployment
Canada cuts rates amid rising joblessness and sticky inflation
Experts say state of economy puts central bank in a difficult position as it eases by 25bp
Stablecoins pose bigger risks to US than to EU – de Guindos
ECB vice-president also expresses hope that “populist movements in Europe do not prevail”
Sama enables Google Pay, to launch Alipay+ by 2026
Saudi central bank expands payment system to global players in digitalisation drive
BI makes third surprise cut as lawmakers mull its mandate
Bank says 25bp easing aimed at promoting growth, pledges further monetary-fiscal policy alignment
Political turmoil rattles Turkish lira carry trade
Echoes of March crackdown that sparked market rout leave traders on alert
Non-dollar stablecoins could spur greenback’s decline – BdF deputy
Central banks should embrace, not oppose, financial innovation, Bénassy-Quéré argues
NBER paper emphasises role of accounting in bank regulation
Bookkeeping conventions matter to how effective capital and liquidity rules are, authors write
Competitiveness, not regs, led to Poland’s RTGS upgrade – expert
Central bank aims to maintain payments “edge” with ISO 20022-compatible Sorbnet 3 system
BoK meeting minutes show sole dissenter favoured rate cut
Board members agreed economy showed signs of recovery, but majority voted to hold
Senate confirms Miran, while court allows Cook to stay
President’s nominee and person he tried to fire will both attend this week’s FOMC meeting
RBA’s Hauser expects ‘significant’ rise in pension funds’ FX hedging
Deputy governor expects Australian dollar’s “natural hedge” to remain but be less relevant to funds
New taxonomy of operating frameworks from BIS economists
Two-dimensional approach captures “surprising similarities” between different methods
BIS warns of elevated equity prices amid ‘sanguine’ markets
High stock valuations “sit oddly” with fiscal sustainability concerns, according to quarterly review
Less is more when it comes to stablecoin supervision – research
Strong collateral rules, not overly close oversight, prevent runs, says new study
Dollar dominance amplifies transmission of US shocks – study
Bank of Korea research recommends promoting South Korean bonds and internationalisation of won
Riksbank deputies say rate forecasting key to transparency
Officials say advantages of openness outweigh drawbacks
Options for realising gold revaluations
Is monetary gold a special case in central bank revaluations accounting?
National Bank of Serbia holds rates
Summertime inflation warrants restrictive policy, central bank says
Russia eases by 100bp in third consecutive rate cut
Governor says decision was warranted by falls in both inflation and economic activity
Islamic finance suited for green investments – BNM governor
Abdul Rasheed says sharia-compliant vehicles offer “ready-made infrastructure for risk-sharing”
China and Indonesia expand cross-border settlement links
Central banks also announce QR-based pilot for payments in local currencies