Data
The Fed enters a new epoch
Chair Kevin Warsh takes his first steps to transform the US central bank
ECB implements second 25bp hike of year
Bank says second-round effects have yet to show up in wage data as energy inflation spikes to 14.2%
Lagarde and Nagel make renewed calls for European unity
ECB and Bundesbank presidents say continent risks losing ground without further markets integration
Uzbekistan and Hong Kong formalise gold trade co-operation
Uzbek central bank stresses need to diversify country’s precious metals sector
Managers predict moderate AI impact on reserves
But many reserve managers see high future potential for AI
Zombie firms in Asian EMEs cause disinflation in AEs – study
Spillover is transmitted to advanced economies via trade channels, BIS report says
China ups gold reserves by largest amount in nearly three years
Monthly increase is biggest since 2023 as PBoC’s holdings hit 76.7m troy ounces
Staff strength and salary associated with size of reserves
Managers report greater satisfaction with non-staff resources than staffing levels
Counting the cost of central bank staff errors
Risk managers expose underlying causes and outline measures to curtail incidents
Waller steps up to the plate with rationale for rate setting
Fed governor compares himself to baseball umpire and says data will determine his next FOMC vote
Higher global yields complicate ECB’s position, Nagel says
Bundesbank president says inflation too high, and backs eurozone-wide debt earmarked for defence
New Zealand tightens policy as inflation remains above target
RBNZ says currently ‘lacklustre’ growth likely to accelerate after carrying out expected hike
The ECB’s geopolitical stress test needs a price
Only a market can say how much it should cost to insure against losses from a geopolitical risk event, and none exists, argues academic
Warsh declines to outline Fed’s reaction function
Chair tells Jackson Hole that ‘humble, never naïve’ approach will work and assesses US economy
Tonga holds rates amid ongoing monetary policy reform
Pacific island’s central bank says inflation is running hot due to external price shocks
Will Kevin Warsh’s communications gambit pay off?
Fed chair believes less is more with comms, but experts say time is ticking on his credibility
BoK delivers second consecutive rate hike
Central bank forecasts stronger growth as inflation remains above target
Economics Benchmarks 2026 report – advanced analytics
AI usage is increasing, but banks still vary in their approaches
Financial inclusion improving in Tajikistan, says World Bank
Country head says institution’s partnership with central bank is also improving corporate governance
How do central banks handle criticism in the media?
Comms staff say critiques often are constructive while stressing the need for simple language
Eurozone inflation expectations steady as job fears grow
ECB’s latest data signals inflation is stabilising, but downward shift in labour sentiment may be ahead
BoE staff find uneven policy transmission across businesses
Survey findings suggest larger firms with high productivity and borrowing have better access to data
Warsh called for fewer FOMC meetings in July
Minutes show committee agreeing on above-target inflation but disagreeing over AI’s effect on prices
Reconsidering the role of money in monetary policy
Euro policy architect Otmar Issing argues that central banks must improve their flawed inflation targeting frameworks