Geopolitics
Russia’s neighbours work to enable digital offline payments
Central banks in Nordic and Baltic countries prepare back-up plans in event of major internet outages
ECB says tariff shocks ‘continue to reverberate’
Stability review says risk of slowdown has “increased markedly”, though banks are better placed than in 2008
Central banks should focus on supply risks – Riksbank governor
Thedéen says recent years’ shocks were not demand-driven and neither are today’s geopolitical tensions
German and Spanish governors criticise US policies
Nagel defends Fed independence, while Escrivá cautions against excessive deregulation
EBRD outlook turns gloomy after US tariffs
“Not a very happy picture” for world economy, says institution’s chief economist
‘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
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”