Latest
No return to ‘whatever it takes’ for EU defence – BdF head
Villeroy de Galhau says US is “shooting itself in the foot” with tariffs
Obituary: Liu Hongru, 1930–2025
Former PBoC deputy governor left influential legacy in China’s modernisation of banking and finance
Insurers play key role in monetary transmission – IMF paper
Authors show sensitivity to long end of yield curve is “causally connected” to risk premia
Benchmarking
Iran releases 2 million rial banknotes
New series of high-value notes introduced as value of currency continues to fall
Half of central banks must be consulted on law changes
Practice is slightly more common at banks with government officials on the board
People: BNM appoints deputy and assistant governors
CNB makes appointments in internal audit and economic modelling divisions
Olli Rehn appointed to second term at Bank of Finland
Governor joins European central bankers in warning of economic and geopolitical uncertainty
Bank of Russia to allow wealthy investors to trade crypto
Bank says proposal follows direct instructions from Putin, but reiterates risks
Peru holds policy rate at 4.75%
BCRP stays put as inflation and growth continue to move in right direction
Fernando Restoy on supervision, geopolitical risks and the rise of non-banks
FSI chairman shares his plans for the organisation and discusses the latest policy issues, including AI oversight, collateral pre-positioning and capital resilience
Awards
Transparency award: Bank of Portugal
Central bank upgrades website, bolsters financial education and internal communications using creative multimedia storytelling skills
Partner initiative: Swift
Swift has advanced global CBDC and tokenisation network interoperability
Regulatory technology services: FTS
Firm has helped the Central Bank of Oman and others to fix blind-spots in their risk-based AML/CFT supervision
Central bank of the year: Bank of Thailand
The Thai central bank has countered government interference while fulfilling its mandate and striving to future-proof the financial sector
Editor's choice
Fintech Benchmarks 2025 – model banks analysis
Data breakdown reveals differences in CBDC research, AI use and adoption of the cloud
Do central bank governors make good prime ministers?
Mark Carney is the latest to make the leap, but the record elsewhere has been mixed
Stop calling them ‘CBDCs’, ECB paper argues
Study says the term, and much other crypto terminology, is misleading and should be binned
Trump, the Fed and climate’s undeniable systemic risk
Experts disagree on the impact of the Fed’s withdrawal from the NGFS but are united about climate change’s devastating effect on the financial system
Benchmarking
Half of central banks must be consulted on law changes
Practice is slightly more common at banks with government officials on the board
Inter-bank working groups
Facilitating connections between central bankers across the globe to promote the exchange of expertise and support collaboration.
Upcoming meetings include: Cyber risk management, social media in communications and upgrading forecast models.
Central banking amid uncertainty and Trump 2.0
Deglobalisation set to challenge the central banking orthodoxy of the past 40 years
Central Banking Spring Meetings 2025
Working group minutes: facing up to CBDC adoption challenges
Participants at Cape Town meeting saw drawbacks to digital currency versus other payment methods
Trump 2.0 piles pressure on reserve managers
Speakers at Central Banking Spring Meetings discuss positioning, interventions and impact of lost aid
Technology needs to keep up with crypto regulation – panel
Panellists discuss AML/CFT risks arising from virtual assets during Central Banking Spring Meetings
Conservatism in central banking ‘may not exist in 10 years’
Reserve managers at Spring Meetings 2025 share frustrations and discuss new strategies
Book reviews
Book notes: Central bank capitalism: monetary policy in times of crisis, by Joscha Wullweber
Book notes: Default: the landmark court battle over Argentina’s $100 billion debt restructuring, by Gregory Makoff
Book notes: A fly on the RBI wall: an insider’s view of the central bank, by Alpana Killawala
Book notes: The bankers’ new clothes, second edition, by Anat Admati and Martin Hellwig
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