Geopolitics
IMF says supervisors need to be mindful of geopolitical risks
Shock events cause sizeable swings in asset pricing, institution’s latest report highlights
‘Liberation day’ was not peak uncertainty – Schnabel
EU was “not born to screw the US, but to make Europe thrive”, says ECB board member
‘Declaring war on the world economy’: economists react to Trump tariffs
Early estimates point to stagflation in US, as tariffs hit highest level since early 20th century
Riksbank reshuffles strategic asset allocation
Dollar-denominated holdings increase while euro takes backseat in new “holistic approach"
Take foreign policy veto away from EU members, says Lagarde
ECB president makes case for qualified majority voting in an apparent rebuff to Hungary
Buch: geopolitical risk is ‘our new business as usual’
ECB supervision chief tells EU parliament there is no trade-off between growth and effective supervision
Effects of ‘Mar-a-Lago accord’ are ‘highly speculative’ – BdF deputy
Agnès Bénassy-Quéré casts doubt on proposed collaboration to deliberately devalue dollar
No return to ‘whatever it takes’ for EU defence – BdF head
Villeroy de Galhau says US is “shooting itself in the foot” with tariffs
Olli Rehn appointed to second term at Bank of Finland
Governor joins European central bankers in warning of economic and geopolitical uncertainty
Do central bank governors make good prime ministers?
Mark Carney is the latest to make the leap, but the record elsewhere has been mixed
European Central Bank continues easing with 25bp cut
Revised forecast points to stunted growth, as Lagarde says bank is operating in “high uncertainty”
Large geopolitical shocks have outsized economic impact – paper
Researchers find non-linearities, which amplify effects on economy
Knot makes case for ‘international monetary diplomacy’
DNB governor says dream of a rules-based international order must be kept alive
European politicians clash over ECB review, climate, digital euro
Report on bank’s performance critiques climate mandate, loss of purchasing power
Risk Management Benchmarks 2025 – executive summary
The benchmarks reveal an ongoing focus on cyber risk, but climate and AI risks are rising fast
Bank of Korea unexpectedly holds policy rate amid political turmoil
Central bank cites need to assess political developments and incoming US administration’s policies
ECB lists climate and tech risks as supervisory priorities
SSM says strong governance and geopolitical risks will also be among key areas of focus in 2025–27
NBER paper explores sources of ‘geoeconomic power’
Authors write of “urgent need” to understand “new era of geoeconomic rivalry”
Trade wars could cost world $6.5tn by 2030 – Swift study
Fragmented financial landscape “benefits no one”, report shows
Central banking amid uncertainty and Trump 2.0
Deglobalisation set to challenge the central banking orthodoxy of the past 40 years
Banknotes: October to December 2024
A round-up of news and salient issues that have affected central bankers in the past three months
Fake it ’til you break it: the battle against disinformation
Transparency, beefed-up comms and AI are all being enlisted in central banks’ fight against falsehood
Geoeconomic reserve management
The world order is evolving. Whether, and how, the international economy remains integrated or shifts into spheres of influence has consequences for central bank policy and reserve management.
Geoeconomic reserve management
The world order is evolving and geopolitical risks are heightened. Geoeconomic fragmentation is a real concern for reserve managers.