Trade
Asia-Pacific central banks list geopolitics, AI among key challenges
EMEAP, representing monetary authorities from across region, commits to strengthening co-operation
ECB holds rates for third consecutive time
Lagarde celebrates ‘fading risks’ to eurozone growth thanks to trade deals and Gaza ceasefire
Japan holds rates, as expected, with two dissenting votes
BoJ governor says there is no ‘preset idea’ on future rate rises after dissenters call for 25bp hike
Trade fragmentation not always inflationary – BoE study
Tariffs influence prices based on how sudden the shock is and how demand adjusts, researchers say
PBoC’s language suggests policy shift on yuan – China economist
Central bank drops ‘cautious’ from pronouncements on currency’s internationalisation
BoK holds policy at 2.5% and signals room for further cuts
Rhee Chang Yong says four of six board members open to cutting to 2.25% over next three months
AI, low productivity, and trade in focus at G30
Georgieva, Bailey and Lagarde speak on stretched AI evaluations and distortionary trade policies
Tariffs will not solve US ‘twin deficits’, BdF governor says
Villeroy de Galhau wants to maintain spirit of transatlantic co-operation despite disagreements
Do BIS volumes soar past the trend?
Average daily FX volumes have surged to $9.6 trillion in latest triennial survey, but are these figures representative?
Iceland, Romania and Serbia hold, while Poland cuts rates
High food inflation continues to affect eastern Europe
Lagarde revives pitch for euro’s international role
Single currency can become ‘true source of strength’, ECB president says
Bank of Thailand unexpectedly holds policy
Vitai Ratanakorn’s first meeting as governor results in 5–2 vote to keep rates at 1.5%
Credible Fed key to dollar’s role in Asia – Amro’s Dong He
Organisation’s chief economist says Asia’s central banks not seeking to disrupt currency’s position in region
Central banks must focus on comms – Bank of Finland panel
Institutions need to concentrate on anchoring inflation expectations, governors say
FX turnover surges 28% to nearly $10 trillion a day – BIS
Triennial survey finds euro has overtaken dollar in OTC interest rate derivatives market
Central Europe’s central banks hold rates
Switzerland, Czech Republic and Hungary keep policy steady
Fiscal dominance: are central banks about to be Trumped?
Jagjit Chadha highlights the danger of an ‘upper bound’ on interest rates as fiscal strains grow
Eurozone consumers shifted habits after tariffs – ECB survey
More financially literate citizens stopped buying US goods, consumer expectations survey shows
BoJ holds policy as expected and plans to sell ETF and J-Reit assets
Two board members vote for hike, but all agree on sales that economists say will help normalise policy
Dollar dominance amplifies transmission of US shocks – study
Bank of Korea research recommends promoting South Korean bonds and internationalisation of won
The weaponisation of payments
Central banks must integrate geopolitical resilience into their payment oversight, argues Biagio Bossone
‘Liberation Day’ triggered demand for dollar-backed stablecoins
Researchers find effect was stronger in countries subject to higher US tariffs
Malaysia holds policy after sanguine economic forecasts
Central bank says trade uncertainties remain but have abated somewhat
Lagarde says US-EU deal lowered uncertainty ‘considerably’
ECB president voices concern over Fed independence, French debt