Monetary policy
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
AI and tokenised finance are reshaping financial trust
Amro’s CEO Yasuto Watanabe argues that sustained policy attention is needed to ensure the foundation of trust remains resilient amid financial transformation
ECB and ESRB warn of financial stability risk from geopolitics
New model takes prediction data to show US domestic politics affecting eurozone financial markets
BoE’s Greene: impact of Fed easing on UK remains unclear
Spillovers via trade channel could push domestic inflation up or down, MPC member says
BoJ holds rates as politics and sovereign bonds take spotlight
Decision closes out week in which JGB yields rose to historic highs after PM called snap election
BNM holds policy and points to positive economic outlook
Malaysian central bank keeps rates at 2.75% and expects domestic growth momentum to continue
BI holds rates amid renewed concerns over its independence
Indonesian central bank says keeping rates at 4.75% will stabilise rupiah and encourage growth
Legal threat to Fed accelerates Asean+3 contingency planning
AMRO chief economist says central bank independence of paramount importance for stability
China leaves benchmark lending rates unchanged
One-year LPR stays at 3% and five-year rate remains at 3.5% following easing via structural tools
Japanese citizens expect prices to keep rising in 2026
BoJ says it will continue to hike rates if 2% inflation target is met
RBNZ head should have sought advice on Powell letter – ministers
Political leaders say they would still have supported Breman’s decision, regardless of advice offered
BoK leaves policy rate unchanged
Economists predict South Korean central bank will hold at 2.5% for remainder of year
China cuts lending rate for some sectors and flags room for more
PBoC deputy announces 25bp cuts to lending rate for agriculture sector, small businesses and others
St Louis Fed chief says independence remains critical
Musalem adds that there is little reason for further policy easing in near term
Sticky fears about sticky inflation
Survey finds investors are not yet ready to declare victory on inflation – with good reason
US tariffs unlikely to halt progress on global trade – BoE’s Taylor
UK inflation expected to fall in near term due to trade diversion, MPC member says
NZ foreign minister attacks central bank chief for backing Powell
Breman told to ‘stay in her New Zealand lane’ after signing letter in support of Fed chair
Experts decry ‘show trial’ of Fed chair
Probe slammed as politically motivated attack on Powell for doing his job
BoE paper offers method to build narrative around forecasts
Process could support use of SVAR models in monetary policy process
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