Economics
Climate risk could affect both financial and price stability – BdF’s Dees
Head of French central bank’s climate economics unit says monitoring climate risks is vital for fulfilling primary mandate
Weaponisation of reserves likely to spur de-dollarisation – survey
Freezing of Russian assets will have “significant consequences”, reserves managers say
Tariffs not the only policy causing uncertainty – Fed presidents
Officials highlight risks from US administration’s approaches to deregulation and immigration
Maurice Obstfeld on the trade war’s damage to the monetary system
The former IMF chief economist speaks about Trump’s chaotic economic policies, the erosion of Fed independence and dollar stability, difficult policy trade-offs for central banks, and the threat to the Bretton Woods institutions
ECB says tariff shocks ‘continue to reverberate’
Stability review says risk of slowdown has “increased markedly”, though banks are better placed than in 2008
BoE governor gives optimistic forecast about scenario approach
Bailey says new method allows for better projections, given growing frequency of ‘black swans’
Falling oil prices bode ill for Russia – Bank of Finland blog
Higher deficits may cause authorities to engage in monetary financing, says Heli Simola
Target inflation traditionally, G30 tells Fed
Working group says its proposed changes to Fed framework might prevent repeat of 2023 banking crisis
Bank lending in Ukraine continues to grow, despite conflict
NBU survey reports demand from businesses and households is up, though loan quality may be slipping
Rewriting the monetary balance sheet
Biagio Bossone and Massimo Costa write that a new accounting approach is needed for central banks and commercial money in the digital age
New Zealand makes rate cut in response to tariffs
RBNZ eases policy by 25bp and points to trade war’s downside risks to growth
Do Trump/Doge materially threaten the Federal Reserve?
Experts weigh in on the danger levels for the US central bank, including whether it is overstaffed
Nabiullina: still Putin’s most effective general
Even Russia’s enemies say its central bank governor has played a bad hand well. But for how much longer?
Agent-based models come of age
Central banks are increasingly modelling the economy as a complex system
US farmers need extra revenue to make ends meet – research
Costs largely outweigh income generated by agri, says Richmond Fed study
Forward guidance ‘partly to blame’ for inflation – panel
ECB should do more scenario planning, revise collateral rules and incorporate Taylor principles
Central Banking Awards 2025: second group of winners unveiled
Awards recognise growth-at-risk research, transparency, digital transformation and more
‘No strategy’ in US tariffs, says Mexican economist
Measures ignore “triangular” trade relationship between US, China and Mexico
US tariffs could have larger-than-expected impact – study
Author suggests trade statistics are being misreported
War in Taiwan would cause severe disruption – Fed study
Conflict would be most economically impactful since World War II, says author
US house price-to-rent ratio likely to fall – Dallas Fed study
Expected decline could also signal future course of inflation, research argues