Central Banking
Brazil holds rates amid tariff threats and Trump-Lula feud
Potential 50% levies from US reinforce “cautious stance”, BCB says
Ageing societies limit monetary policy space – BoK study
“Super aged” populations cut growth and inflation, and weaken banking sector, authors say
More independent central banks take on greater risk – ECB paper
Low rates, tighter fiscal policy and good growth accompanied by higher risk-taking on balance sheets
Ghana’s 300bp rate cut is largest in its history
Governor signals further easing as inflation cools to lowest level since 2021
BoJ holds policy and ups inflation expectations
Japan’s central bank says growth likely to slow then pick up again after tariffs’ effects diminish
Fed holds rates, despite pressure from White House
Experts say stance is in response to Trump’s trade policies and lament his attacks on central bank
Bank of Canada holds rates as core inflation heats up
Governor points to tariffs, but economist highlights “mystery” of core metric’s divergence from headline measure
Financial technologies are increasing AML/CFT risks – EBA
Crypto increasingly used to facilitate crime, while fintech firms prioritise “growth over compliance”
Chile cuts rates for first time this year
Central bank says more easing to come as US tariff threats on copper complicate outlook
Obituary: Süreyya Serdengeçti, 1952–2025
Governor of Turkey’s central bank whose policies brought inflation down from 75% to single-digit figures
Cambodia tells lenders to offer relief for borrowers
Central bank’s instructions relate to soldiers and people displaced by fighting along Thai border
Singapore maintains policy after two periods of easing
MAS says Q2 growth stronger than expected but trade likely to slow in second half of 2025
ECB staff committee protests over bank’s ‘misuse’ of powers
Letter claims president and fellow board member do not practise the values they preach
European Commission already preparing next FRTB move
As EC runs out powers to delay rules again, proposal for temporary capital relief is on the agenda
BIS paper debuts new metric to gauge monetary policy stance
Index captures how size of central bank balance sheet affects borrowing conditions
ECB to apply climate risk to collateral framework
Move expected to reduce value of assets in bank’s refinancing operations
People: Olli Rehn to chair ECB’s audit committee
Plus: Gita Gopinath to step down as IMF’s first deputy managing director
Markets bet on cuts when Trump threatens Powell – research
Economists link attacks on Fed independence with expectations of policy easing
Kyrgyzstan tightens policy for first time in more than a year
Central bank raises rates by 25bp to keep inflation in check amid tariff uncertainties
Stablecoins could increase EU’s dependency on US – ECB official
Strategy needed to maintain monetary policy autonomy and financial stability, says Schaaf
Bank of England floats ‘quasi-IMA’ in FRTB standardised method
Dealers welcome new route to capitalising residual risk, but it could fragment global ruleset
‘Start late, then sprint’ may cost when tackling inflation – CEPR
Research says approach ultimately succeeded post-Covid, but hurt central banks’ credibility
HKMA to cut budget and freeze headcount – media report
De facto central bank could be latest to join belt-tightening campaign by Hong Kong institutions
BNM cuts growth forecast due to tariff uncertainty
However, Malaysia’s central bank says economy is on “strong footing” amid threat of 25% US levy