Debt
Goodhart and Pradhan on the end of monetary independence
The unanchored central banker authors speak about how ageing populations, soaring healthcare costs and rising fiscal deficits will force central bankers to compromise on inflation targets and bail out indebted governments
Mamerto Tangonan on the Philippines’ glocal digital ecosystem
Deputy governor shares insights on the nexus of wCBDC and digital sovereign bonds, multilateral payments governance and 'smart' global trade
Book notes: The unanchored central banker, by Manoj Pradhan and Charles Goodhart
A book sparkling with provocative opinions that challenges readers to rethink central banking amid evolving macro trends
EU central banks want more sovereign bonds in stablecoin reserves
Micar review proposals include severing crypto interdependence with rival banks
Washington is guarding against the wrong dollar threat
Brics nations did not launch a common currency in New Delhi. The payment networks they are building may matter more
Swiss upper house backs tougher capital rules in blow to UBS
Vote moves proposed 90% capital backing for foreign liabilities one step closer to becoming law
IMF reaches staff-level agreement with Zimbabwe
Country still needs to strengthen governance and restore debt sustainability, fund says
Czech Republic extends pause while Moldova raises rates
CNB leaves door open to rate rise while Moldova presses on with third hike since May
Federal Reserve delivers first rate hike since 2023
FOMC expects policy to remain around 4.1% for 2026–27 and inflation to reach 2% by 2029
Middle East conflict will prolong inflation shock, Lagarde says
ECB chief warns AI is also driving long-term funding costs for governments
Treasury buyback risks a (collateral) chain reaction
Rebalancing of bond tenors could stretch collateral links to breaking point, argues economist
MNB governor signals cautious optimism over euro adoption
Hungary has to overcome ‘pessimism’ if it wants to join currency union, says Varga
Zimbabwe tallies progress towards de-dollarisation
Sustained single-digit inflation and greater demand for local currency are still needed, central bank says
Russia’s cashflow problem
Citizens increasingly rely on hard currency as military spending places strain on banking system and economy
Most central banks have plenty of import coverage
There is little common ground between respondents at high or low levels of coverage
Mozambique’s ‘debt scandal’ casts shadow over governor appointment
Activist says president’s U-turn is likely to have been prompted by public outcry
Bangladesh Bank launches loan scheme to boost agri sector
Borrowers will pay no more than 7% interest under scheme
Brazil unveils 2027 budget to rein in spending and borrowing
Debt dynamics to remain on upward trend over coming years, says economist
Bailey warns AI could crash global financial system
FSB chief warns of cyber security risks and threats from leveraged investments in technology
Central bank reserve managers unnerved by Treasury market woes
Officials are unsettled but constrained as US creditor base shifts to private hands
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