Central Banking
Stablecoins will not revolutionise money, says BIS
But a “trilogy” of tokenised assets on a unified ledger might, organisation concludes
Recollections may differ on Weimar hyperinflation – ECB blog
Author says first-hand accounts suggest episode was less traumatic than politicians would later claim
Bowman is latest Fed member to call for July rates cut
Vice-chair for supervision joins Waller in saying risks to growth outweigh risks to inflation
Lagarde renews calls for digital euro
ECB president tells lawmakers to “rapidly” introduce legislation for CBDC launch
Bank of England urged to rethink HHI concentration risk add-on
Experts think overhaul of credit risk measure should be part of PRA’s ongoing Pillar 2 review
Central banks must rethink how they speak
Communication is critical for effective policy and social media is not merely a channel of communication, it is a space for dialogue, a feedback loop and a reputational battleground, writes Biagio Bossone
FX hedging behind April’s dollar slide – BIS bulletin
Treasury sell-offs not correlated with greenback’s depreciation, authors argue
Lebanon increases monthly withdrawal limits
Central bank aims to ease pressures on depositors amid ongoing financial crisis
Tariffs cannot fix US trade deficit, says Taiwanese governor
Central bank chief flags stateside fiscal risks but says dollar-based order still intact
US stablecoins pose ‘severe risks’ to monetary sovereignty – paper
Assets threaten stability in eurozone and global south, authors find
Global macro shifts: can emerging markets navigate a fragmented world?
Franklin Templeton expects certain emerging markets to benefit during the realignment of global political and trading blocs
FSB warns of liquidity stress in CRE markets
Opaque valuation and high leverage among vulnerabilities in $12 trillion property sector
Turkey holds policy rate at 46% as inflation trend moderates
MPC maintains tight stance to anchor disinflation and restore price stability
Bailey ‘remains to be convinced’ about retail CBDCs
BoE governor adds that stablecoins must “pass the test of singleness of money”
Thailand approves its first virtual banks
Thai, South Korean and Chinese firms will operate online-only lenders, central bank announces
Regulatory confusion hinders euro stablecoins, says DRW founder
Conflicting interpretations of EU rules will divert more capital away from euro assets, says Don Wilson
China holds key lending rates as expected
Central bank keeps one- and three-year LPRs at 3% and 5% respectively
EBA mulls rule changes to speed up model approval process
Reducing compliance burden of credit risk model updates can aid banks and supervisors
Norway, Sweden and Switzerland cut, while Moldova holds
Swiss and Nordic banks ease policy by 25bp
Brazil raises policy rate to 15% and signals ‘prolonged’ hold
BCB makes seventh consecutive hike; inflation trends downwards but still above target
UAE and China to enhance cross-border payments
Emirati central bank signs MoU with Cips to streamline bilateral financial transactions
MNB governor signs co-operation agreement with PBoC
Hungary can “especially” rely on Asian partners amid global uncertainty, governor says
Fed maintains wait-and-see approach with rate hold
Powell ignores Trump’s calls for easing amid president’s continued insults