Exchange rate
Euro ‘more appealing’ for both invoicing and reserves, ECB finds
Bank’s annual report on currency’s use draws on findings from Central Banking’s benchmarking
Philippines governor says off-cycle rate hike possible
Remolona says BSP may have fallen behind the curve on inflation
Book notes: The art of monetary policy, by Kristin Forbes
The message that effective monetary policy-making requires judgement, flexibility and realism alongside technical expertise is both persuasive and highly relevant
Reserves shifting from deposits to securities – paper
Pattern may be evidence of ‘mercantilist’ motivation for excess reserve accumulation
Reinventing reserve management: governance, risk and agility in a fragmented global financial system
Bank Indonesia’s new total‑portfolio approach tightens governance, risk controls and implementation speed in volatile global markets, writes reserves head Rahmatullah Sjamsudin
Helder Lopes on Timor-Leste’s transformation now the oil has run out
The Central Bank of Timor-Leste (BCTL) governor speaks to Chris Jeffery and Jono Thomson about dollarisation amid US policy unpredictability, managing legacy Petroleum Fund investments, Asean membership, digitalisation and financial deepening, and a long…
Zafar Parker on 25 years of reserve management at the Sarb
Amid evolving risk, the head of financial markets talks about the journey to excess balance transfers to the government as South Africa’s reserves rose from $20bn to $80bn
Dollar’s centrality in FX markets makes it more volatile – study
Greenback’s use as ‘vehicle currency’ makes it more sensitive to external shocks, economists say
Working group minutes: guarding financial independence
Dynamic capital may help but tailoring accounting frameworks to central banks is still challenging
Bulgarian lessons from entering the eurozone
Sofia’s uneasy membership in the currency bloc, five months in
Geopolitical shifts and the evolution of reserve management: adapting to a new reality
How great power rivalry affects central bank portfolios by the Central Bank of Brazil’s Ricardo da Costa Martinelli
Indonesia going ‘all out’ to prop up rupiah, governor says
Warjiyo says it is ‘not business as usual’ following $1.7bn outflows from foreign portfolio in Q1
European central banks opt to hold
Albania, Czech Republic, Poland, Serbia and Sweden keep rates constant
Carry trades explain FX response to rate hikes – BIS bulletin
Value of funding currencies surges after surprise tightening as investors unwind positions, study shows
Japan suspected to have intervened again after yen jumps
Experts say currency would not automatically lose free-floating status with further FX interventions
Trends in reserve management 2026: survey results
101 central banks, responsible for $9.5trn+ reserves, reveal exclusive data on FX interventions, if the US dollar is still seen as a safe-haven currency and approaches to investing in 20+ currencies
Romania spends €2.1bn to stabilise leu as government falls
Central bank’s reserves went from €67bn in March to €64.9bn in April
Japan’s government reportedly intervenes in FX market
First intervention in nearly two years after yen fell to weakest level since July 2024
Bank of Botswana hikes rates in bid to boost transmission
Central bank admonishes lenders for ‘undermining the policy intent’
Solomon Islands governor calls for reduced reliance on mining
Luke Forau urges greater focus on boosting agriculture and tourism sectors
Schlegel suggests SNB prefers FX interventions to negative rates
President says central bank will adjust policy ‘if necessary’