Reserves
Two in five large reserves holders reduce dollar allocations
Yet central banks’ FX holdings remain broadly denominated in US currency
Reserve managers widely satisfied with staff strength and resources
Large reserve management teams tend to earn higher salaries
Geopolitics, crypto and inequality are systemic risks – ESRB panel
Geopolitical risk is shaping markets, institutions and the financial system, says Olli Rehn
Central banks purchasing less gold, says WGC
July figures show a slowdown in net purchases of the precious metal
No ‘race to the bottom’ if Fed is forced to cut – Schnabel
ECB board member says politicised US central bank would be “very disruptive”
Sri Lankan inflation back in positive territory
Central bank says prices are rising for first time since it changed policy framework last November
A not-so-stable Genius Act?
New stablecoin rules raise monetary sovereignty and financial stability concerns
North Macedonia reshuffles reserve requirements
Central bank eyes more long-term, dinar-denominated savings and stronger deposit base for banks
Book notes: King dollar, by Paul Blustein
A well-researched overview of the position of the US currency, providing an optimistic view on the future of ‘king dollar’.
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
Is this time different for Argentina?
Reserve shortage and overvalued currency cast a pall over an otherwise successful stabilisation campaign
Chile launches programme to shore up FX holdings
Central bank aims to increase reserves by 40% and reduce role of foreign currency credit lines
More independent central banks take on greater risk – ECB paper
Low rates, tighter fiscal policy and good growth accompanied by higher risk-taking on balance sheets
Book notes: Making money work, by Matt Sekerke and Steve H Hanke
This book provides a critique of the post-crisis monetary and financial system, proposing changes that deserve to be broadly read
Kazakh central bank denies it is adding crypto to reserves
National Bank of Kazakhstan says “no decision has been made” on strategic crypto reserve
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
Botswana increases pula crawl rate to defend reserves
Central bank will also charge lenders higher margins to access FX
Tobias Adrian on the integrated policy framework amid tariff shocks
The IMF’s financial counsellor speaks about policy reaction functions to supply and demand shocks, scenario-based analyses, Treasury market dynamics and emerging market resilience
Central banks need common accounting standard – Honohan
Former Irish central bank governor calls for policy-makers to report portfolios at fair value
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
Eastern Caribbean Central Bank posts record profit for 2024–25
Monetary authority says tally exceeds previous record by 57%
Geopolitical ructions and the role of the dollar
Implications of the new US administration’s policies for the international monetary system and central banks
No changes to Fed swap lines, Lagarde worried about ‘truth’ – panel
Fed, ECB, BoE, BoJ and BoK governors discuss tariffs, stablecoins, r*, scenario analyses and the future