Euro
Reconsidering the role of money in monetary policy
Euro policy architect Otmar Issing argues that central banks must improve their flawed inflation targeting frameworks
ECB succession race: Netherlands throws weight behind Knot
Former DNB governor receives official backing
Digital euro would have ‘muted’ effect on banks’ funding – paper
Bundesbank finds that €3,000 holding limit would cause “contained” effects on long-term bank health
Eurozone non-labour income used for saving, not spending – paper
Erosion in financial wealth dragged on consumption, Bank of Italy study finds
EU defence spending boosts growth before inflation – CNB
Financial markets buy into defence equities well before government money has been spent, study finds
MAS tightens ‘very slightly’, saying it will cap inflation
Unexpected move marks central bank’s second consecutive tightening decision
One ledger or eight: the design choice that will shape cross-border money
Two rival tokenised settlement networks have both expanded – mBridge into Macau and Mongolia, Agorá to Canada. The contest between them is not primarily about technology, and not yet about currencies. It is about who keeps the ledger, argues Marcello…
‘Tips clone’ developed by Bank of Italy goes live in Balkans
Bosnia and Herzegovina and Montenegro become first jurisdictions connected by payments system
Geopolitical risks cause eurozone banks to tighten credit
ECB’s quarterly survey shows lenders alert to continued instability resulting from Iran war
Cipollone outlines digital euro app as ECB readies pilot
Board member says application will ‘leave no-one behind’
Jasmina Selimović on managing Europe’s last currency board
The Central Bank of Bosnia and Herzegovina governor speaks about building resilience to counter geoeconomic shocks, strengthening reforms amid EU convergence, addressing stablecoin and NBFI risks, Sepa integration, and capacity building.
ECB’s T2 suffers second ‘incident’ as Euronext reports outage
Euro and krone T2 settlements queued for 30–40 minutes following system update last month
Banque de France’s Denis Beau on supervisory reform
The Banque de France’s deputy governor speaks about suppression of the systemic risk buffer, proposals for a TLAC floor, and simplifying bank regulation and resolution
Lagarde ‘regrets’ forward guidance and Warsh plans ‘family fight’
Fed, ECB, BoC and BoE heads discuss inflation, uncertainty, AI, stagflation and independence in Sintra
Samoa to leave policy unchanged over coming year
Central bank expects inflation to rise temporarily due to effects of Iran war
EUR vs USD stablecoins is the wrong debate
Market structure and regulatory cohesion is at the centre of the stablecoin liquidity evolution, says Flow Traders’ digital assets head
Mervyn King on his career and big ‘mistakes’
The former BoE governor speaks with Christopher Jeffery about the value of transparency, lessons from the GFC, the need to track broad money and tie short-term funding to haircut collateral, and danger presented by non-banks
Hong Kong scales up in bid to attract central bank gold
Financial bureau chief targets Asian institutions to bolster gold storage to 2,000 tonnes, use new trading and central clearing services plus links to China, amid sovereign immunity concerns
QE reduces bonds’ safe haven properties – BdF paper
Safety is becoming ‘increasingly fragmented’ across asset classes, researchers say
Governors move markets as much as ECB board members – paper
Presidents' speeches have greatest influence, followed by those given by heads of national central banks
Digital euro passes European Parliament’s first hurdle
Economic and monetary committee’s rapporteur says CBDC will ‘never replace’ cash