Gold
NBU tells banks to avoid Hungary after cash and gold heist
Hungarian government official explicitly ties asset seizure to dispute over stricken oil pipeline
Book notes: Before the Fed, by Jon Moen and Mary Tone Rodgers
A significant contribution to understanding private-sector financial crisis responses, relevant to today’s lender-of-last-resort function
ECB posted €1.3bn loss in 2025
Reserves grew by €13.6bn while central bank thinned balance sheet by €37.3bn
Thailand unexpectedly cuts rates on lower growth outlook
Central bank hopes easing of policy will support SMEs, households and overall economy
China goes long gold, short Treasuries
Bullion-buying spree continues, but banks told to limit purchases of US government debt
China says tokenisation illegal under existing framework
PBoC and agencies update 2021 crypto guidelines to place restrictions on real world assets
EU cannot fully disconnect from US, say Nagel and Kocher
German and Austrian governors say bloc can take steps to gain more sovereignty
Bank of Ghana slashes rates by 250bp
Institution says fiscal consolidation and plummeting inflation justified additional easing
Japan’s monetary base declines for first time in 18 years
BoJ’s balance sheet also shrank by 9.4% last year amid policy normalisation drive
BoT details efforts to curb gold-related FX volatility
Financial institutions given new timeframe to verify gold transactions, with further measures planned
2025: The year in central banking
A look back at the biggest and most popular stories of the year
Book notes: Money in crisis, by Ignazio Angeloni and Daniel Gros
This book should be essential reading for policy-makers at a time of uncertainty and technological change
BoT proposes agency to oversee gold trade amid baht appreciation
Economist says greater oversight would slow dollar-baht trade, but underlying issues may persist
Richard Doornbosch on central banking in a tempestuous climate
The president of the Central Bank of Curaçao and Sint Maarten speaks to Christopher Jeffery about addressing legacy financial scandals, transition to a Caribbean guilder, tapping gold holdings and managing a currency peg at a time of US policy uncertainty
ECB reminds Italian lawmaker: monetary financing by gold is illegal
European Central Bank says budget amendment’s purpose is “not clear”
Gold and bitcoin buys triggered Tether downgrade, says S&P
Agency explains why it gave world’s largest stablecoin its lowest rating for stability
Italian government looks to raid central bank gold reserves
Budget amendment could see Bank of Italy liquidate 2,452 tonnes of bullion
BoT seeks more oversight of gold trade to prevent baht volatility
Vitai says bank is working to boost supervision of institutions and dealers involved in precious metal
Bank of Russia starts selling gold locally
Move is not a sign of budget crisis, experts say
Reserve managers in Americas aim to be ‘more daring’
Central Banking Autumn Meetings: managers look to diversify assets, jurisdictions, currencies and counterparties
More independent central banks hold fewer dollars – research
De-dollarisation benefits Singaporean and Korean currencies, while Australia’s and China’s lose out