Exchange rate
Reflections on the international financial situation
Former IMF head Jacques de Larosière writes that markets are blind to Trump's policy shocks that are fragmenting the monetary ‘system’, causing strain in the eurozone and may result in stagflation
NBP’s Juliusz Jabłecki on geopolitics, bitcoin and gold
Director of financial risk management department talks tactics versus strategy, operations following the outbreak of war in neighbouring Ukraine, FX interventions and independent risk-taking
Ukraine’s Andriy Pyshnyy on the US minerals deal, ongoing reforms and post-war plans
The National Bank of Ukraine’s governor speaks about managing inflation, financial sector reform, FX reserves, international aid and actions in the event of a peace deal
Book notes: Smart money: how digital currencies will win the new Cold War, by Brunello Rosa with Casey Larsen
This alarmist book, although lacking nuance, provides a lucid account of how CBDCs could play a decisive role in geopolitical dominance
East Africa governors discuss delayed single currency launch
Leaders adopt “masterplan” to modernise and integrate payments systems
What drove the Taiwan dollar surge?
Foreign speculators, carry unwinds and central bank inaction fuelled the 10% move, not just life insurers, say traders
Taiwan says currency surge unrelated to trade talks with US
Rumours of “Mar-a-Lago accord” causing NT$ appreciation are “false”, central bank says
No more FX regime change in Argentina, BCRA governor says
Current policy will naturally move country towards free-floating exchange rate, Bausili explains
The implications of IFRS 18 for central banks
The new accounting rule on presentation and disclosure in financial statements may require changes in reporting practices and systems, complicating consistency and materiality considerations
Bank of Korea holds rates at 2.75%
Growth sluggish and inflation on target but central bank needs more time to judge tariff effects
IMF agrees $20 billion loan deal with Argentina
Fund disburses $12 billion immediately as BCRA moves currency regime to managed float
Kenya cuts benchmark rate to 10%
Central bank says easing necessary to boost lending to private sector and stimulate growth
PBoC backs state fund’s efforts to stabilise stock market
Chinese central bank also fixes currency at lowest level since September 2023
Indonesia to ‘aggressively’ shore up currency amid tariffs
Central bank will intervene in FX market once it re-opens following week-long holiday
ECB monetary policy spills over to US – Chicago Fed study
Resulting appreciation of dollar causes US leveraged loan investors to demand more compensation
Bank Indonesia ready to stabilise currency, official says
Central bank could intervene in FX market again after rupiah almost hit record low
Can central banks cut remittance fees to sustainable levels?
More action is needed to reach the UN’s 3% global average cost target. But central banks face limits on what they can do
Indonesia holds rates after stock market rout
BI opts to defend exchange rate as country records deflation for first time in 25 years
Rising long-term yields reflect uncertain sentiments – BIS
Latest quarterly review highlights diverging trends in bond, equity and corporate credit markets
China holds loan prime rates
PBoC stays put again as yuan strengthens after Trump signals potential trade talks with Xi
EMs resilient to US monetary spillovers, panellists say
Turkish and Thai governors discuss policy challenges at IMF conference in Saudi Arabia
China to focus more on consumption, says PBoC governor
Pan Gongsheng wants domestic demand to be “key driver of growth”
UK economy vulnerable to Trump tariffs – BoE’s Greene
MPC member says US has outsized financial impact as biggest single-country trading partner
Argentina cuts rates by 300bp to 29%
Central bank will also slow peso’s monthly devaluation rate, starting from next week