Debt
Central Banking Awards 2026: fourth winners announced
Fourth group of awards includes digital transformation, currency manager and more
Swiss National Bank’s profits down in 2025
Losses on FX holdings dwarfed by gold gains to enable bank to post Sfr26.1 billion profit
Thailand unexpectedly cuts rates on lower growth outlook
Central bank hopes easing of policy will support SMEs, households and overall economy
BoE to assess eligibility of digital gilts in monetary operations
UK set to become first G7 country to issue sovereign bonds on DLT
China goes long gold, short Treasuries
Bullion-buying spree continues, but banks told to limit purchases of US government debt
Full ‘postmortem’ on QE yet to be written – Klaas Knot
Former DNB governor expects Fed to continue international monetary diplomacy under Warsh
BIS paper models fiscal influence on monetary policy
Researchers propose alternative mechanism to fiscal theory of the price level
EU cannot fully disconnect from US, say Nagel and Kocher
German and Austrian governors say bloc can take steps to gain more sovereignty
US stock crash would be ‘felt across the world’ – BdF deputy
Current account imbalances cannot be solved unilaterally, argues Bénassy-Quéré
ECB tweaks collateral framework, ‘paves way’ for DLT-based assets
Bank clarifies ‘climate factor’ in securities pricing, introduces haircuts on sterling, dollar and yen assets
China could trigger Treasuries selloff to punish US – paper
Beijing might sustain short-term self-harm to undermine US assets’ safe haven reputation, authors say
Don’t count on central banks to buy public debt, says Lagarde
ECB president tells Davos panel that divergent global standards may puncture AI bubble
Bailey underscores support for Powell
BoE governor also points to potential spillover risks to UK from events in US
Tech-driven global growth vulnerable to shocks, IMF warns
Sharp market corrections could ensue if productivity gains from AI do not meet expectations
Yield curve ‘steepening’ best seen as normalisation – ECB study
Long-term borrowing costs surged but overall structure ‘not in an unusual shape’, say economists
Sticky fears about sticky inflation
Survey finds investors are not yet ready to declare victory on inflation – with good reason
Experts decry ‘show trial’ of Fed chair
Probe slammed as politically motivated attack on Powell for doing his job
Book notes: The London Consensus, by Tim Besley, Irene Bucelli and Andrés Velasco
The authors set out guidelines to address shortcomings linked to the Washington consensus, but implementation will be a challenge
Venezuela: a crude awakening?
Capture of Maduro opens new chapter for troubled economy and its central bank
BoJ balance sheet shows policy normalisation progressing
Analyst says corporate debt sales proceeding, but equities selloff to take over a century at current pace
Japan’s monetary base declines for first time in 18 years
BoJ’s balance sheet also shrank by 9.4% last year amid policy normalisation drive