Central Banking
Saudi Central Bank joins mBridge
Cross-border CBDC project with China, Hong Kong, Thailand and the UAE opens up further to private sector
ECB cuts policy rate by 25 basis points
Strong eurozone wage growth rules out commitment to further cuts, says governing council
Bank of Canada reduces rates by 25bp
Macklem says runway for a soft landing is in sight and policy is working
Economics is becoming exclusive, RBA official warns
Drop in diversity among Australian economists will hurt discipline, Jacqui Dwyer says
Turkish court challenges president over governor dismissals
Presidential adviser says Erdoğan will still be able to sack governors
How Argentina’s financial tango could become a dance of death
Central bank and government’s unholy alliance is storing up further trouble for economy
Oman central bank joins Afaq payments system
System is operated by company owned by Gulf region’s central banks
Atlanta Fed cuts second-quarter US GDP estimate
Bostic says “orderly slowdown” could be positive news
IMF’s Gopinath calls for international trade co-operation
US-China tensions have redirected trade flows, deputy director says
RBNZ governor in dispute with pro-business group
New Zealand Initiative spars with Adrian Orr over prudential policy
Most Germans would use digital euro – Bundesbank
Privacy, sturdiness and offline functionality among top concerns, survey finds
BdF paper looks at what new global currency would need
Unified debt market would go “some way” to internationalising the euro
Turkish inflation reaches 75% in May
Finance minister says ‘worst is over’ but one estimate says official figures are too low
Qatar to test large payments using CBDC
Central bank says it will test AI and distributed ledger technology
Vietnamese central bank moves to lower domestic gold prices
SBV official says market may be fixed but analyst points to shifts in supply and demand
Swift tests AI-driven fraud detection
Pilot projects aim to detect fraudulent activity and improve information sharing
Maltese governor pleads not guilty to fraud
Prosecutors allege Scicluna failed to challenge suspect hospital deal while finance minister
Fed research investigates supply chain resilience
Stiglitz and co-authors look at firms’ investment in production capacity
MNB tells Hungarian lending group to ‘tread lightly’ in Russia
“Selling subsidiary for less than half its worth would help Russia,” OTP Bank CEO says
Global natural rates could be rising, SNB governor says
Jordan says Swiss central bank’s approach allows it to deal with uncertainty over r*
BoJ pays record profits to government
Central bank contributes $13.8 billion with gains from ETFs and bonds
Acemoglu questions productivity benefits of AI
MIT economist finds weak productivity gains from AI and says benefits may be undermined by costs
Bank of Mexico lowers GDP growth estimate
Slow economic activity from last year continues into the first quarter
RBI launches platform to digitise regulation
Central bank also launches mobile app to buy and sell government securities