Central Banking
Trump reverses course on Fed decision
US president says central bank was right to hold rates in January
New governor takes over at Bank of Ghana
Johnson Pandit Asiama assumes office as predecessor takes terminal leave ahead of retirement
US sanctions may create demand for Eurodollars – NBER paper
Economists compare today’s market to the one that emerged during Cold War era
Branching paths: the Czech National Bank’s many modelling options
Three external reviews each recommended a different combination of models. The CNB now faces tough design choices, and must also decide how to upgrade its economic research
Former Fed adviser arrested for allegedly spying for China
Indictment claims official passed on sensitive economic and financial data to Chinese security services
Annual inflation in Turkey falls, but monthly inflation surges
Independent body estimates actual figure to be much higher than official statistics
Google study shows cyber threat actors’ increased use of AI
Content campaigns identified in Russia, Iran, North Korea and China
Colombia unexpectedly holds policy rate
Central bank pauses easing cycle as minimum wage hike complicates inflation dynamics
Rivers, birds and cultural spaces to feature on new euro notes
Design contest to start in 2025, though introduction “several years” away
Risk Management Benchmarks 2025 – executive summary
The benchmarks reveal an ongoing focus on cyber risk, but climate and AI risks are rising fast
Bank of England mustering unit to model system-wide stresses
Permanent team at UK supervisor will work on buy- and sell-side interactions
Argentina cuts rates by 300bp to 29%
Central bank will also slow peso’s monthly devaluation rate, starting from next week
AI adoption does not require governance overhaul – BIS
Study says central banks can build upon existing risk management frameworks
Rwanda and Ghana to connect payment systems
Rwandan central bank governor reveals plans to increase financial inclusion with CBDC, microfinance
Fintechs launch e-rupee services
Initiative follows RBI’s announcement last year that CBDC would be extended to non-banks
CNB takes next step towards adopting bitcoin
Board approves governor’s proposal to look at “additional asset classes”, which could include crypto
South Africa delivers third successive rate cut
Move comes as inflation remains at lower end of target range
Information impacts dealers’ behaviour in crises – BoE paper
“Information chasing” helps explain how prices are set during liquidity shocks, authors say
European Central Bank makes 25bp cut
Lagarde “confident” EU central banks will not add crypto to their reserves
Afghanistan to issue jail terms for large dollar transfers
Move to clamp down on illicit inflows comes as central bank struggles to prop up afghani
Brazil again raises rates by 100bp
BCB signals further rises amid persistently high inflation and lingering concerns over public finances
Riksbank makes second 25bp rate cut of 2025
“Signs of an economic rebound” prompt further easing of policy
Hungary tentatively holds rates
MNB also changes forward guidance as inflation picks up
AI transcript hints at nepotism in ECB hiring practices
Opaque wage adjustment processes are unaccountable, sources tell Central Banking