Trade
Yen options dealers struggle to hedge intervention risk
Hedge funds’ bets on BoJ intervention are leaving dealers with vol-surface exposures they can’t hedge cheaply
Asean’s expanding and evolving swap lines
The Asian trade bloc – with and without China, Japan and South Korea – wants to strengthen emergency liquidity support
EUR vs USD stablecoins is the wrong debate
Market structure and regulatory cohesion is at the centre of the stablecoin liquidity evolution, says Flow Traders’ digital assets head
PBoC designates RMB clearing banks for Indonesia and Africa
Bank of China (Hong Kong), ICBC and Standard Bank to operate services for Chinese currency
QE reduces bonds’ safe haven properties – BdF paper
Safety is becoming ‘increasingly fragmented’ across asset classes, researchers say
Banxico holds rates at 6.5% in end to easing cycle
Board says inflationary risks remain ‘tilted to the upside’, despite recent easing of price pressures
Brazil to issue up to $735m worth of panda bonds
PBoC governor welcomes announcement and pledges support to China’s partner in ‘global south’
RBI and Myanmar central bank discuss swap line
Indian ambassador meets with Burmese governor to discuss payments co-operation
IMF’s Gourinchas argues ‘middle powers’ can heal global trade
Co-operation by mid-sized economies could bring hegemons to table, chief economist says
Switzerland and Norway hold, Czech Republic and Moldova hike
SNB says inflation uptick is temporary, while CNB and Norges Bank highlight wage pressures
Botswana holds rates, while Namibia tightens by 25bp
Southern African nations remain cautious, despite deal between US and Iran
Barry Eichengreen on the evolution of the global monetary order
The US monetary expert speaks to Thomas Chow about similarities between the dollar and 18th century Dutch money and why Washington has bet on the ‘wrong horse’ with private stablecoins
Zoltán Kurali on Hungary’s reserves strategy and euro adoption
Deputy governor speaks about portfolio positioning amidst geopolitical volatility, AI, CBDC and the future of the forint
Singapore to introduce gold storage for central banks
MAS plans OTC clearing in local time, gold financial products and other bullion-related initiatives
Governor says BoK must tighten policy ‘before it is too late’
Shin rows back on previous calls to look through inflation and says data points in one direction only
HKMA joins push for yuan-rupiah settlement and exchange
Renminbi clearing bank to be established in Indonesia as country’s largest lender joins Cips
Canada holds amid uncertainty over tariffs and energy shock
Governor points to US trade policy and Iran war as known unknowns affecting trajectory of policy
RBA flags risks posed by ‘acute’ geopolitical shocks
Australian central bank outlines short-term threats such as conflicts, sanctions and blockades
Indonesia amends law to expand BI’s growth focus
Rupiah hits new low as lawmakers are given greater oversight over central bank
The next financial crisis may start outside the banks
The warning signs are multiplying and the window for preventive action is narrowing, writes Stijn Claessens
Euro ‘more appealing’ for both invoicing and reserves, ECB finds
Bank’s annual report on currency’s use draws on findings from Central Banking’s benchmarking