Foreign exchange
Is the central bank gold rush over?
Has gold become too expensive to offer value as a diversification asset amid geopolitical turbulence?
Maurice Obstfeld on the trade war’s damage to the monetary system
The former IMF chief economist speaks about Trump’s chaotic economic policies, the erosion of Fed independence and dollar stability, difficult policy trade-offs for central banks, and the threat to the Bretton Woods institutions
BIS’s Shin points to ‘profound structural shift’ in global markets
‘Hidden’ $113tn FX swaps market reflects sovereign bonds’ ascendency
Ukraine’s Andriy Pyshnyy on the US minerals deal, ongoing reforms and post-war plans
The National Bank of Ukraine’s governor speaks about managing inflation, financial sector reform, FX reserves, international aid and actions in the event of a peace deal
Hedge funds burned as Hong Kong dollar bets implode
However, market participants still seem satisfied with the HKMA’s commitment to defending currency peg
What drove the Taiwan dollar surge?
Foreign speculators, carry unwinds and central bank inaction fuelled the 10% move, not just life insurers, say traders
Taiwan says currency surge unrelated to trade talks with US
Rumours of “Mar-a-Lago accord” causing NT$ appreciation are “false”, central bank says
‘This is not a wobble’: Brunello Rosa on the path to de-dollarisation
Digital currencies will play a central role as China challenges US hegemony, says economist
BIS, ECB, BoE develop synchronised cross-border FX transactions
BIS says Project Meridian FX reduces liquidity, credit and settlement risk
Ethiopian governor hails benefits of central bank reforms
Mihretu tells IMF Spring Meetings inflation is now projected to fall to 10% in 2025-26
Inside the week that shook the US Treasury market
Rates traders on the “scary” moves that almost broke the world’s safest and most liquid investment
Iceland resurrects active FX purchase programme
Central bank to buy €6 million a week to ensure sufficient liquidity
IMF agrees $20 billion loan deal with Argentina
Fund disburses $12 billion immediately as BCRA moves currency regime to managed float
Central banks shore up reserves against fallout from tariffs
Officials prepare to protect FDI and conduct FX interventions, Reserve Management Trends survey finds
BCRA renews $5 billion currency swap with PBoC
Argentina gets reserves boost, with new IMF deal expected to be finalised over coming days
Kenya cuts benchmark rate to 10%
Central bank says easing necessary to boost lending to private sector and stimulate growth
Nigeria sells FX to offset tariff-induced volatility
Oil-exporting country also affected by decline in commodity prices
Ethiopia to conduct FX auctions every two weeks
NBE says move will help it achieve policy objectives as it looks to lower inflation to single digits
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
US dollar dominance: beyond the ‘exorbitant privilege’
Biagio Bossone argues that dollar ‘seigniorage’ extends into the very structure of global finance and its ‘exorbitant privilege’ is worth up to $804 billion annually
Financial market infrastructure services: Nasdaq
Nasdaq has added a monetary operations portal to its cloud-based reserves services as part of its growing integrated suite
Trump 2.0 piles pressure on reserve managers
Speakers at Central Banking Spring Meetings discuss positioning, interventions and impact of lost aid
Bank Indonesia holds rates at 5.75%
Central bank faces dilemma of whether to prioritise bolstering growth or propping up currency