Central Banking
RBNZ chair resigns amid criticism of former governor’s exit
Finance minister says she would have asked Neil Quigley to quit if he had not stepped down
Supervisors to work with tech sector on AI transparency project
HKMA, FCA and BIS will also engage with the banking industry over the next 12 months
Economists lambast Cook’s ‘firing’ for lack of due process
Expert says if Trump succeeds it will be the end of Fed independence; governor sues to void presidential order
South Korea planning to revive paused CBDC programme
Bank of Korea’s Rhee says CBDC may be used to distribute government subsidies
Belize clarifies moneylender annual fees cap at 144%
Central bank says it is striving to reduce overall fees, improve transparency and cut predatory lending
Thai central bank warns country’s SMEs vulnerable to US tariffs
Bank of Thailand monetary policy committee signals further easing likely, minutes show
SNB researchers test LLM-based FX trading strategy
Meta’s Llama 3.1 comes out top predicting G10 currency sentiment based on news articles
Professor says Fed must defend its post-Covid credibility
Jackson Hole speaker Emi Nakamura talks credibility, tariffs and independence
Current and former PBoC heads disagree on stablecoin hype
Views pivot on whether US dollar-backed stablecoins or other currencies will prosper
Dutch merchants say digital euro is good if it works offline
DNB study finds vendors wary of costs, wanting “equal or lower” fees compared with existing options
Philippines eases policy 25bp to 5% ‘Goldilocks zone’
BSP governor says one more cut likely this year as bank cites risks posed by US trade policy
BoK economists discuss policy responses to ‘super ageing’
In Do Hwang and Boreum Kwak speak about the actions South Korea should take as critically low birth rate limits central bank’s policy space
Teach people monetary policy to anchor expectations – ECB paper
Experiment run at ECB visitor centre finds strong impact from education
Yield spreads of bonds held by mutual funds decline in QE – ECB paper
Bond purchase programmes compress risk premia and boost demand, research finds
BoC will continue targeting inflation at 2%, governor says
Guidance is well understood and provides stability in uncertain times, argues Canada’s Macklem
Ex-BIS research head backs tokenised deposits over stablecoins
Tokenisation is the “truly transformative innovation”, argue Cecchetti and Schoenholtz
Firing Cook is not going to be easy, legal experts say
Some scholars criticise the US president’s move, but others say there may be grounds for dismissal
Crypto has accelerated CBDC work – BIS survey
Developing and emerging economies more likely to make retail CBDC available on distributed ledgers
BIS’s Hernández de Cos tells central banks to be realistic
Policy-makers should make clear what they can and cannot do, says new general manager
Trump tries to remove Fed governor Lisa Cook
President says mortgage applications by Cook constitute “due cause” for her removal
Aging population may improve fiscal sustainability – paper
More old people means more money to invest in assets like government bonds, researchers point out
Hong Kong allows collateral reuse in offshore yuan bond repos
HKMA says changes will increase offshore participation in mainland China bond market
RBNZ proposes lower capital requirements for lenders
Key proposal would reduce minimum capital requirement to encourage new entrants
The next step for Africa’s digital economy: fast, inclusive payments
Central banks should lead policy for a payments transformation that benefits all levels of society, argue Jean Pesme and Michael Wiegand