Eurozone
EC proposes legal tender status for digital euro
Legislation envisages digital wallet available on- and offline, while safeguarding cash
ECB ‘cannot declare victory yet’ over inflation – Lagarde
President stresses rates will need to be higher for longer to defeat persistent inflation
BoF’s Rehn says government plans violate central bank independence
New Finnish prime minister says he will revisit policy statement
Eurozone’s economy contracts for two quarters running
Economic contraction will be a focal point of ECB meeting on June 15
Lagarde warns against excessive tightening
Eurozone inflation declined sharply in May from 7% to 6.1% and core inflation declined to 5.3%
Offline digital euro solution could be years away, ECB says
Central bank invited market participants, including Amazon, to carry out front-end protocol tests that included self-custody wallets
Trends in reserve management 2023: survey results
Insights on inflation, asset diversification, geopolitical risk, risk management frameworks and ESG adoption
ECB paper suggests faster methods for estimating eurozone employment
Nowcasting tools outperform models currently used by ECB, researchers say
Olli Rehn selected as ESRB’s first vice-chair
Bank of Finland governor replaces former Sveriges Riksbank governor Stefan Ingves
A troubling trilemma
Central banks need to tread a fine line as they serve as the economy’s police, fire brigade and paramedics
Inflation in Baltics set to remain highest in euro area
Charts highlight divergence between eurozone members
Spain’s De Cos calls for greater ambition in EU fiscal reforms
Redesign of fiscal rules must be supported by wider reform of financial governance, governor says
ECB flags ‘persistent concerns’ over bank governance
Supervisors perform first assessment of “excessive leverage” and demand action from four banks
ECB estimates trillions of euros at risk from climate change
Central bank publishes sustainable finance, carbon emissions and physical risk indicators
Regulators should treat crypto trading as gambling – Panetta
Self-destruction of crypto sector is not assured, says ECB official
Missed inflation target has ‘sizeable’ fiscal impact – paper
Persistent undershooting by ECB caused problems for countries with long-duration debt, authors say
ECB adjusts risk controls with eye on collateral availability
First assessment of climate risk in collateral framework concludes no climate-related changes needed
European rates: Norway expects more tightening next year
Switzerland raises rates 50bp and Denmark raises rates in line with ECB
Italy to allow larger cash payments despite central bank objections
Official warns move could encourage illicit activity
Housing plays growing role in transmitting ECB policy, paper finds
Labour earnings still most important means of transmission, researchers say
The ECB’s collateral conundrum
A lack of high-quality collateral in the eurozone has resulted in money market rates lagging ECB policy rates, hampering monetary policy transmission
Eurozone inflation falls for first time in 17 months, estimates say
Eurostat figures show inflation dropping in most countries, including Germany
Knot and Schnabel strike hawkish tone on ECB policy
Portuguese governor calls for an end to 75bp hikes; Lagarde says inflation may still rise
Chile’s Costa on tackling inflation, forex interventions and nowcasting
The Central Bank of Chile governor speaks about stubbornly high prices, Fed policy spillovers, reserve buffers, retail CBDC and the need to address unconscious bias