Trade
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
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
BIS points to ‘structural transformations’ in markets
Quarterly review cites higher volatility and gold losing its status as a safe haven asset
South Korea holds policy as expected
Economists expect decision to mark end of easing cycle
Market interaction key to effective FX interventions – panel
Central bankers from the Americas say data and communication help to reduce volatility
Confidence in dollar undiminished since April, says BIS’s Shin
Institution’s head of monetary and economic policy says no hard evidence of shift from US currency
Dollar remains king for now, says Tombini
BIS Americas chief tells Central Banking Autumn Meetings of lessons from events of past year
Taiwan commits to greater FX transparency after talks with US
Central bank rejects claim that domestic currency has been persistently undervalued
What lies beneath China’s SDR proposal?
Experts discuss whether the PBoC’s vision for an SDR-led international monetary system would represent a ‘monetary straitjacket’ or an ideal ‘dollar replacement’
Czech Republic, Moldova and Norway hold rates
CNB says services inflation is still high, Moldova is recovering and Norway says it is in no hurry
Poland cuts rates, while Albania and Sweden hold
Riksbank warns of US stock market bubble
HKMA-BCB trade finance link could be gamechanger, says expert
CBDC blockchain experiment has potential to boost global commerce, UN adviser tells Central Banking
RBA holds policy as inflation rises
Australian central bank’s inflation forecast assumes one further rate cut in easing cycle
New Zealand banks can withstand geopolitical shocks, says RBNZ
Latest stress test monitors impact of recession and liquidity crisis triggered by potential global events
Asia-Pacific central banks list geopolitics, AI among key challenges
EMEAP, representing monetary authorities from across region, commits to strengthening co-operation