Eurozone
A fractured monetary system
US policy is encouraging a transition away from a dollar-led, rules-based order
EU firms fear dollar liquidity becoming tariff bargaining chip
Trade war escalation could affect ECB's access to Fed swap lines
No need for repo clearing ‘cannon’ in Europe, says industry
Observers question rationale for a clearing mandate, calling for clearer incentives
Iceland and Switzerland cut rates, while Sweden holds
Central banks highlight global developments and high levels of uncertainty
ECB framework needs ‘few tweaks’ – panellists
Digital euro is “even more important” in the wake of Trump CBDC ban, says BdF governor
Bundesbank backs German debt brake reform
Next chancellor could try to push reform through before new parliament is sworn in
Trump says ‘no’ to CBDCs
Digital asset schism between US and eurozone widens
CNB’s Aleš Michl on tackling inflation, Friedman’s legacy and ditching DSGE
The Czech governor speaks about policy mistakes, targeting M2, diversifying into equities and gold, building new models and ending interest payments on minimum reserves
ECB raises capital requirements for eurozone banks
Geopolitics and macro-financial shocks remain top priority for next three years, annual review states
Digital euro can fill market gap, panellists say
Representatives from central banks and industry discuss use cases for retail and wholesale CBDCs
E-krona adviser on offline trials, legislative changes and rollouts of CBDCs
Sveriges Riksbank’s Johan Schmalholz speaks about latest CBDC developments on sidelines of Central Banking’s Windsor training series
Governors weigh macroeconomic risks at G30 event
Officials from Netherlands, South Africa, BIS and more consider debt, inflation and climate change
Suspended Bulgarian deputy claims he is fighting for central bank ‘independence’
Eurozone candidate country’s deputy breaks silence on suspension, and his fight to get reinstated
Countries with high import coverage invest more in non-SDR debt
Breakdown of asset allocations shows Europe holds nearly half of world’s ESG-focused bonds
BIS paper links interest rate risk to bank lending supply
Monetary tightening affects bank lending more when “duration gap” is larger, authors find
European Central Bank holds rates
Inflation set for return to target in 2025, as Lagarde defends ECB response to staff burnout
IMF warns of slowing disinflation path
Higher interest rates in advanced economies could trigger “harmful spillovers”, chief economist warns
ECB cuts policy rate by 25 basis points
Strong eurozone wage growth rules out commitment to further cuts, says governing council
Banknotes: April to June 2024
A round-up of news and salient issues that have affected central bankers in the past three months
ECB paper recommends central fiscal instrument
Governments’ ability to delay fiscal consolidation should be limited, researchers argue
QE helped smooth sovereign bond yields, ECB paper finds
Eurosystem’s asset purchases helped reduce effect of “auction cycle”, researcher says