Debt
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
Renato Gomes on Pix, Drex and digital asset regulation
Brazil’s deputy governor speaks with Christopher Jeffery about pros and pitfalls of open finance, financial inclusion and crime on Pix, and the need to sideline DLT for Drex phase 3
China launches ‘credit repair’ scheme to boost lending
Overdue personal debt of up to 10,000 yuan to be removed from database if debtor repays by March
World’s largest CSD moves to tokenise Treasuries
DTCC subsidiary with $100 trillion under custody to partner with Digital Assets’ blockchain
Indonesia holds as Thailand eases policy
Economists predict both countries’ central banks will aim for looser liquidity in 2026
How Bessent learned to stop worrying and love the T-bill
Short-dated issuance shows no signs of slowing. Some fear it could end badly.
Global investment outlook: 2026 and beyond
Broadening, steepening and weakening: Franklin Templeton’s top investment ideas for 2026 and beyond
ECB in no hurry with new structural operations – Välimäki
Portfolio will first need to be reduced ‘considerably’, says bank's alternate board member
‘Imaginations are running wild’ – Nagel on AI
Europe is prepared for a financial downturn, Bundesbank president says
IMF sees room for further easing in Thailand
Country’s household debt challenges compounded by other shocks, mission head says
Advanced economies’ debts are ‘unsustainable’ – research
US, Japan and European nations need to get their fiscal act together, says study by Belgian central bank
QE will have long-term fiscal benefits, Bailey tells Treasury
BoE analysis addresses criticism that taxpayers paying for unconventional monetary policy
Bailey switches sides as BoE holds at 4% in 5–4 decision
Members’ views, published for first time, show disagreement around staff’s central projection
Stablecoins to trigger rise in demand for Treasuries – study
Authors say sector’s growth could take demand from around $300bn today to $2trn by 2030
France faces ‘gradual suffocation’ by debt, BdF governor says
Villeroy de Galhau finds notion of being under IMF tutelage 'insulting'
PBoC to resume open market China bond trading
Analysts expect purchases by central bank to support liquidity and government fiscal policy
Venetian lessons for today’s central bankers
Loose money and lost credibility in 17th century city state provide a cautionary tale about the importance of international investor confidence, argues Biagio Bossone
Tariffs will not solve US ‘twin deficits’, BdF governor says
Villeroy de Galhau wants to maintain spirit of transatlantic co-operation despite disagreements
Firms in Italy keep mafia closer when credit is tight – paper
Economic shocks make it harder for businesses to refuse cosa nostra’s offers, says central bank report
The SDR as an alternative to the dollar
The weaponisation of the dollar by US authorities represents an opportunity to reconfigure usage of the SDR, argues Warren Coats
Book notes: Crisis cycle, by John H Cochrane, Luis Garicano and Klaus Masuch
This book ought to be read by anyone with an interest in or influence on the future development of the Emu