Growth
Nagel pitches policy ideas to kickstart German economy
Bundesbank president says higher European defence spending is “reasonable”
Fed succession planning: will Trump stick to the script?
The race to succeed Jerome Powell as head of the world’s most powerful central bank has already begun
Boris Vujčić on Croatia’s economic journey, the digital euro and the Governing Council
The Croatian National Bank (HNB) governor speaks with Christopher Jeffery about managing financial risks, the pros and cons of euro adoption, payment system reform and the use of real-time data
Geopolitical ructions and the role of the dollar
Implications of the new US administration’s policies for the international monetary system and central banks
Book notes: Our dollar, your problem, by Kenneth Rogoff
An excellent overview of the evolution of the world economy during the last seven decades, and a warning against complacency
Ex-OCC chief Michael Hsu on the impact of an America-first agenda
The former acting comptroller of the currency speaks with Christopher Jeffery about the future of the US Treasury market, Fed independence, financial de-regulation, the Genius Act and international co-operation
Banxico makes fourth straight 50bp cut
Inflation edges up but growth still sluggish; central bank opens door to slower easing
Policy to remain restrictive for now, says BoE governor
Bailey says there will be “gradual and careful approach” to any further easing
Thailand holds rates as trade talks with US continue
Central bank says tariffs are among reasons for projected economic slowdown in 2025
Bowman is latest Fed member to call for July rates cut
Vice-chair for supervision joins Waller in saying risks to growth outweigh risks to inflation
Paraguay’s Carvallo Spalding on resilience and cutting its inflation target
The Central Bank of Paraguay (BCP) governor speaks about lowering the inflation target to 3.5%, opening up to foreign investors and promoting inclusion through digital payments
Fed maintains wait-and-see approach with rate hold
Powell ignores Trump’s calls for easing amid president’s continued insults
Chile holds rates at 5% again
Inflation slows and growth exceeds expectations, though war in Middle East adds uncertainty, BCCh says
Climate risk could affect both financial and price stability – BdF’s Dees
Head of French central bank’s climate economics unit says monitoring climate risks is vital for fulfilling primary mandate
BoK expresses ‘grave concern’ over Korean economy
Governor says stimulus needed, but cautions against expecting too much from rate cuts
Russia’s rates cut does not presage shift in stance
Experts say central bank remains alert to inflation risks and will maintain ultra-restrictive policy
European Central Bank reduces rates by 25bp
Lagarde hints at pause in next meeting, dispels rumours about early departure
A fractured monetary system
US policy is encouraging a transition away from a dollar-led, rules-based order
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
Dovish Banxico minutes point to another 50bp cut in June
Weak domestic growth and tariff-hit foreign demand suggest further easing on horizon
Bank of Korea makes 25bp cut and lowers GDP forecast again
Central bank hints at further easing as weak domestic recovery and US tariffs dim growth outlook
Trends in reserve management 2025: survey results
Insights on strategies in anticipation of tariffs, interest rate divergence and geopolitical risk, FX diversification and de-dollarisation, as well as bitcoin in reserves, FX interventions and gold
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
Growth in US CRE loans hits 11-year low – research
St Louis Fed study says developers responding to higher costs and lower demand