Trade
EU cannot fully disconnect from US, say Nagel and Kocher
German and Austrian governors say bloc can take steps to gain more sovereignty
ECB and ESRB warn of financial stability risk from geopolitics
New model takes prediction data to show US domestic politics affecting eurozone financial markets
Trade liberalisation with China increased US wages – study
Fed researchers find ‘long-suspected’ benefits for labour market
BNM holds policy and points to positive economic outlook
Malaysian central bank keeps rates at 2.75% and expects domestic growth momentum to continue
Don’t count on central banks to buy public debt, says Lagarde
ECB president tells Davos panel that divergent global standards may puncture AI bubble
Bailey underscores support for Powell
BoE governor also points to potential spillover risks to UK from events in US
India proposes linking Brics countries’ CBDCs
Bloc, which has already committed to improving payments interoperability, faces geopolitical challenges
Bailey warns of threats from populism
BoE governor says institutions ‘have to challenge back’ against attempts to breed distrust
Trade fragmentation still favours west over east – BdF study
Authors says US-led bloc better placed to win over neutral states than China-aligned grouping
US tariffs unlikely to halt progress on global trade – BoE’s Taylor
UK inflation expected to fall in near term due to trade diversion, MPC member says
Book notes: The London Consensus, by Tim Besley, Irene Bucelli and Andrés Velasco
The authors set out guidelines to address shortcomings linked to the Washington consensus, but implementation will be a challenge
RBA deputy says events in Venezuela point to age of extremes
Hauser says 2026 likely to be marked by high uncertainty and potentially benign outcomes
Dollar remains central to Philippines economy, BSP says
Central bank discusses its responses to currency fluctuations and fallout from political scandal
US ‘bearing large share’ of tariff costs – NBER paper
Authors find pass-through is nearly 100% and is reshaping how country trades
Renato Gomes on Pix, Drex and digital asset regulation
Brazil’s deputy governor speaks with Christopher Jeffery about pros and pitfalls of open finance, financial inclusion and crime on Pix, and the need to sideline DLT for Drex phase 3
2025: The year in central banking
A look back at the biggest and most popular stories of the year
National central banks hold rates across Europe
Albania, Czech Republic, Hungary, Norway and Sweden all leave policy unchanged
Indonesia holds as Thailand eases policy
Economists predict both countries’ central banks will aim for looser liquidity in 2026
BoT proposes agency to oversee gold trade amid baht appreciation
Economist says greater oversight would slow dollar-baht trade, but underlying issues may persist
DBS becomes Singapore’s second RMB clearing bank
PBoC and MAS agree to deepen collaboration on securities, e-CNY and other areas
US policies could create challenges for MAS – Amro report
Singaporean central bank confident risks from possible capital inflows can be managed with existing tools