Bonds
Foreign central banks can soon repo Chinese bonds, PBoC says
Experts say move is likely to increase monetary authorities’ demand for Chinese debt
Markets react more to macro news in uncertain times – study
Monetary policy uncertainty amplifies bond yields’ response to data releases, BIS paper says
Zoltán Kurali on Hungary’s reserves strategy and euro adoption
Deputy governor speaks about portfolio positioning amidst geopolitical volatility, AI, CBDC and the future of the forint
Tokenisation poses monetary operations challenges – panel
Officials tell Central Banking London Meetings that 24/7 markets can bring new dilemmas
Dollar’s reserve currency status worth $33 trillion – paper
Loss of exorbitant privilege would lead to dollar depreciation and rise in real interest rates
Ueda’s hospitalisation may create challenges for BoJ comms
Observers say bank is still likely to hike, but signs of future policy path will be harder to read
Credit Suisse’s AT1 loss hurt regulatory credibility – paper
Declining bail-in spreads show markets doubt regulators will enforce resolution, BIS study argues
BI offers more support for rupiah with off-cycle rate hike
Bank plans measures to attract foreign investors to its debt as currency performs worse than expected
Indonesia amends law to expand BI’s growth focus
Rupiah hits new low as lawmakers are given greater oversight over central bank
Euro ‘more appealing’ for both invoicing and reserves, ECB finds
Bank’s annual report on currency’s use draws on findings from Central Banking’s benchmarking
Opinions split on BoJ bond tapering, minutes show
Experts say adjustments to JGB purchases more likely, given divergence of views
US tech equities, euro, sterling and yen add to Norges Bank losses
Reserves portfolio sees gains on US Treasuries and Chinese government bonds amid modest drop
QT does not produce opposite effects to QE, evidence suggests
BoE study considers implications of 1980s ‘overfunding’ for policy-makers today
Europe’s central banks face tough policy calls – Barclays CEO
Venkatakrishnan also spoke on UK political uncertainty, Brexit and banking regs
Reinventing reserve management: governance, risk and agility in a fragmented global financial system
Bank Indonesia’s new total‑portfolio approach tightens governance, risk controls and implementation speed in volatile global markets, writes reserves head Rahmatullah Sjamsudin
Focus on duration and not size of Fed ledger, ex-governor says
Discussion around balance sheet should go beyond shrinking nominal amount, argues Jeremy Stein
Helder Lopes on Timor-Leste’s transformation now the oil has run out
The Central Bank of Timor-Leste (BCTL) governor speaks to Chris Jeffery and Jono Thomson about dollarisation amid US policy unpredictability, managing legacy Petroleum Fund investments, Asean membership, digitalisation and financial deepening, and a long…
RBA study finds no need for wider access to central bank money
Central bank says there is no ‘compelling case’ in report on wholesale tokenisation and settlement
Zafar Parker on 25 years of reserve management at the Sarb
Amid evolving risk, the head of financial markets talks about the journey to excess balance transfers to the government as South Africa’s reserves rose from $20bn to $80bn
Venezuela launches $150bn debt restructuring process
Government looks to rework both sovereign and national oil company’s debt
UK needs closer EU ties in multipolar world – BoE’s Bailey
Governor urges greater support for multilateral institutions to solve growing global imbalances
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
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