Central Banking
US Senate advances Fed chair nomination for Warsh
Separate vote confirming appointment expected later this week
AI, geopolitics, crypto among top AML worries – EU report
Boundary between fraud and money laundering ‘increasingly blurred’, says Amla
PBoC expected to remain on hold following healthy PPI rise
China’s producer price inflation climbed out of long decline to 45-month high in April
Bulgarian lessons from entering the eurozone
Sofia’s uneasy membership in the currency bloc, five months in
People: Macron nominates ex-chief of staff to take over at BdF
Plus: BoJ appoints new head of international affairs, and MNB deputy joins EBA board
AI might raise r* due to wealth effects – Goolsbee
Impact on natural rate depends on whether productivity growth comes as surprise, says Chicago Fed president
Tokenisation no substitute for trad-fi infrastructure – Cook
Fed governor highlights technology’s benefits for emerging economies but signals finstab risks
Case for euro stablecoins ‘weaker than it appears’, says Lagarde
ECB president says settlement in tokenised markets must be anchored in central bank money
UK needs closer EU ties in multipolar world – BoE’s Bailey
Governor urges greater support for multilateral institutions to solve growing global imbalances
BNM and BI boost co-operation amid ‘challenging’ geopolitics
Banks say agreement aims to promote regional stability and sustainable growth
Geopolitical shifts and the evolution of reserve management: adapting to a new reality
How great power rivalry affects central bank portfolios by the Central Bank of Brazil’s Ricardo da Costa Martinelli
Rising global imbalances will be difficult to smooth out – panel
BoE’s Alan Taylor says imbalances bring financial stability risks
Fed needs sounder framework for QE, G30 economists say
Former heads of BoE, BoJ and NY Fed discuss how US central bank could bolster its independence
Banxico announces final rate cut in two-year easing cycle
Split decision reflects concerns over weak growth and above-target inflation
Politics and finance threaten independence – Schnabel
ECB board member says fiscal woes and deregulation may make central banks’ jobs impossible
Israel’s Golan Benita on reserve management amidst the AI boom
The head of market operations at the Bank of Israel discusses a shift to active equities to address ‘Mag7’ risks, the rationale for extending duration, and his critical view of crypto and gold
Indonesia going ‘all out’ to prop up rupiah, governor says
Warjiyo says it is ‘not business as usual’ following $1.7bn outflows from foreign portfolio in Q1
European central banks opt to hold
Albania, Czech Republic, Poland, Serbia and Sweden keep rates constant
Geopolitics complicates stablecoin adoption, BIS paper finds
Weaponisation of financial infrastructure may hinder digital dollarisation, say researchers
Norway and Moldova are first in Europe to hike rates on Iran war
Norges Bank cites broad inflation concerns, but Moldova points to conflict-induced energy spike
Angola’s central bank sells $105m of FX to airlines
Bulk of sales took place in April and coincided with soaring jet fuel prices
Carry trades explain FX response to rate hikes – BIS bulletin
Value of funding currencies surges after surprise tightening as investors unwind positions, study shows
BoJ mulled rate hike at March meeting if Iran war dragged on
Minutes show many board members cautioned against monetary response to energy shock
Prolonged Iran conflict poses stability risks – Barr and Woods
Fed governor and UK’s PRA chief also make renewed case for central bank independence