Central Banking
The weaponisation of payments
Central banks must integrate geopolitical resilience into their payment oversight, argues Biagio Bossone
Brazil steps up financial system security after hacks
Institutions face transaction limits and risk management audits after criminals targeted at least $315m
Bar for going back into negative rates is high – SNB chair
Schlegel says impact on pensions and savers means caution would be warranted
Nexus will connect at least three Asian countries by 2027 – CEO
Company expects to announce winning bidder for contract to build payments platform by year’s end
China and eurozone renew €45 billion liquidity line
ECB says three-year swap deal will protect against disruptions in renminbi market
People: Former RBI governor appointed to IMF
Plus: Blyth replaces Bowe on BoE’s FPC and WGC teams up with Elton John
‘Liberation Day’ triggered demand for dollar-backed stablecoins
Researchers find effect was stronger in countries subject to higher US tariffs
World Bank report says going green makes economic sense
Authors tie employment, resources and productivity to environmental health
Miran claims climate work is real threat to Fed independence
Nominee would ‘forcefully push back’ on bank incorporating global warming risks in its assessments
DNB calls for ‘structural solutions’ to varying eurozone inflation
Rebalancing effect of eurozone’s uniform monetary policy is “slow and incomplete”, central bank says
Poland cuts rates by 25 basis points
Economy continues to grow thanks to domestic demand, central bank says
More economists expect MAS to ease policy next month
Singapore survey finds most still expect no change to country’s currency exchange band
ECB’s Cipollone reveals plans for digital euro infrastructure
Mobile app to enable “basic functionality”, with transactions processed in three different regions
Senate unlikely to replace Cook during litigation
Republicans on key committee will not consider nominees until court rules on legality of her dismissal
The investors who aren’t fretting over Trump’s stat sulk
Some see dismissal of statistics agency chief as an assault on US institutional integrity; for others it offers a chance to throw off outdated methods
Ethiopian governor resigns
Mihretu to leave central bank following two years characterised by major economic reforms
Malaysia holds policy after sanguine economic forecasts
Central bank says trade uncertainties remain but have abated somewhat
Geopolitics, crypto and inequality are systemic risks – ESRB panel
Geopolitical risk is shaping markets, institutions and the financial system, says Olli Rehn
Study suggests AI is already leading to US job losses
Research by St Louis Fed says effect has been greatest in mathematical and computer sectors
Tariffs may lower the natural interest rate – research
Increased trade costs reduce demand for capital, say authors
Central banks purchasing less gold, says WGC
July figures show a slowdown in net purchases of the precious metal
Digital yen is not a given, says BoJ official
Japan’s central bank is focused on studying CBDCs but does not feel pressure to issue one
People: ECB creates task force to simplify regulation
Plus: Kocher takes over as head of Austria’s central bank