Payments
Dutch merchants say digital euro is good if it works offline
DNB study finds vendors wary of costs, wanting “equal or lower” fees compared with existing options
Crypto has accelerated CBDC work – BIS survey
Developing and emerging economies more likely to make retail CBDC available on distributed ledgers
The next step for Africa’s digital economy: fast, inclusive payments
Central banks should lead policy for a payments transformation that benefits all levels of society, argue Jean Pesme and Michael Wiegand
The Genius Act: a smart move for global payments?
Experts from the stablecoin industry discuss if new US law can live up to its name
The cost of inaction on wholesale CBDCs
A gap exists between demand in capital markets and most central banks’ research priorities as evolving risks accrue
Is this time different for Argentina?
Reserve shortage and overvalued currency cast a pall over an otherwise successful stabilisation campaign
RBNZ seeks regulatory powers over payments system
Central bank says New Zealand’s High Value Clearing System currently poses significant risks
Book notes: Beyond banks, by Dan Awrey
The book proposes thoughtful reforms to establish the same reliability for new monetary IOUs as currently exists for bank IOUs
BoE and Treasury’s ‘productive tension’ over stablecoins
Experts say Reeves’s bullishness and Bailey’s more bearish stance on assets may be all to the good
MAS expects slower growth in Singapore’s financial sector
Central bank says major impact from tariffs has yet to emerge at release of annual report
Book notes: Central banking at the frontier, by Thammarak Moenjak
This well-structured book provides a comprehensive overview of the challenges digitalisation poses for finance and includes possible actions for central banks
Central banks explore migration to quantum-proof financial system
BIS partners with monetary authorities in initiative aimed at protecting data and transactions
Central banks of China and Brazil pledge deeper financial ties
PBoC and BCB commit to bilateral currency swaps and “financial strategic co-operation”
Brics leaders push for multilateral payments solutions
Central bank governors and finance ministers also call for reform of Bretton Woods institutions
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
Book notes: The young Fed, by Mark Carlson
A thoughtful book on an important topic and a less widely studied period of US financial history from which every central bank economist could learn
SBP’s RTGS/CSD system has AI and sharia-compliant focus
Pakistani central bank’s tech provider explains functionality behind Prism+
Geopolitical ructions and the role of the dollar
Implications of the new US administration’s policies for the international monetary system and central banks
The future of money
Central banks may require more flexible inflation targets and facilitate wider payments interoperability to maintain trust and the ‘singleness’ of money. By Sethaput Suthiwartnarueput
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
Payments Benchmarks 2025 – model banks analysis
Data breakdowns shed light on organisation structure, RTGS upgrades and payments innovation
Stablecoins will not revolutionise money, says BIS
But a “trilogy” of tokenised assets on a unified ledger might, organisation concludes
Payments Benchmarks 2025 – executive summary
The benchmarks highlight continued progress in boosting cross-border payments
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