Central bank digital currency
2025: The year in central banking
A look back at the biggest and most popular stories of the year
DBS becomes Singapore’s second RMB clearing bank
PBoC and MAS agree to deepen collaboration on securities, e-CNY and other areas
Richard Doornbosch on central banking in a tempestuous climate
The president of the Central Bank of Curaçao and Sint Maarten speaks to Christopher Jeffery about addressing legacy financial scandals, transition to a Caribbean guilder, tapping gold holdings and managing a currency peg at a time of US policy uncertainty
China to continue ‘moderately loose’ monetary policy in 2026
PBoC plans to work with other agencies in effort to boost consumption
BIS tests tokenised FX settlement in instant cross-border payments
Minimal tech upgrades proposed to link central bank money on DLT across Europe and Asia
Norway’s central bank latest to disavow CBDC
Currency would not be ‘appropriate’ to maintain krone’s monetary sovereignty, Norges Bank says
The prospects for retail CBDCs
Open instant payments systems offer a quicker route to financial deepening, for now
IIF says China’s CBDC irrelevant to renminbi internationalisation
Economists say yuan’s use for payments growing, though it remains “stagnant” as reserve currency
Digital euro could reopen e-krona debate for Riksbank – Bunge
Swedish central bank to fully move to eurozone settlement system by 2030
NBFIs could dent transmission – Bundesbank board member
Growing non-bank activity could diminish banking channel’s importance, says Köhler-Geib
Taiwan’s Yang says central bank money remains global ‘anchor’
Governor says it is still ‘ultimate settlement asset’, notwithstanding development of tokenisation
PBoC emphasises stablecoins are illegal in China
Bank reiterates virtual currency ban and says pegged assets fail to meet identity and AML requirements
Sarb finds ‘no compelling need’ for a retail CBDC
Central bank pivots towards wholesale version while modernising national payments system
ECB in no hurry with new structural operations – Välimäki
Portfolio will first need to be reduced ‘considerably’, says bank's alternate board member
Cash is the tender of last resort – panel
Officials at Central Banking Autumn Meetings discuss risks of long-term outages in era of digital payments
Japan will not implement Basel crypto regs by 2026, says FSA
Regulator cites country’s limited exposure to digital assets as reason for not meeting deadline
More independent central banks hold fewer dollars – research
De-dollarisation benefits Singaporean and Korean currencies, while Australia’s and China’s lose out
‘Imaginations are running wild’ – Nagel on AI
Europe is prepared for a financial downturn, Bundesbank president says
CBDC technical design has little impact on demand – BoK study
Working paper also finds that interest-bearing retail instruments attract more interest
CBDC or fast payments can break up ‘walled gardens’ – BIS paper
Study of ‘competing digital monies’ finds public system could prevent fragmentation and rent-seeking
ECB planning to use law to make Apple give way on digital euro
Bank looking to use Digital Markets Act to enable people to hold CBDC on iPhones’ ‘secure element’