Central Banking
ECB launches digital euro ‘innovation platform’
Bank garners around 70 private “pioneers” and “visionaries” to discuss CBDC
FOMC vote rotation ‘distorts’ rates – NBER paper
Regional Fed presidents make decisions based on local conditions, research finds
Pakistan cuts rates to 11%
Central bank expects inflation to rise to 5–7% target level over coming months
Taiwan says currency surge unrelated to trade talks with US
Rumours of “Mar-a-Lago accord” causing NT$ appreciation are “false”, central bank says
Eurozone exports to US unlikely to rise in trade war – ECB study
US tariffs rerouted Chinese goods to eurozone, but exporters there failed to boost US presence
Time to worry about Japanese debt?
The transition to positive rates means Japan may need to re-examine its huge public debt burden, argues Sayuri Shirai
Experts divided over contraction in US economy
Ex-NY Fed chief says latest figures are an anomaly, though others point to Trump policies’ impact
Almost half of eurozone ready to stop buying US goods – ECB study
Tariffs have triggered significant animosity among consumers, research finds
De La Rue completes sale of authentication division
Banknote maker to focus exclusively on currency business
Natural interest rate driven by productivity growth – research
Population increase also plays important role in determining metric, RBNZ paper finds
Pension funds hesitate over BoE’s buy-side repo facility
Reduced leveraged and documentation ‘faff’ curb appetite for central bank’s gilt liquidity lifeline
BoE raises expectations for climate risk analysis by firms
David Bailey says banks and insurers need to use climate modelling to manage risk
Target inflation traditionally, G30 tells Fed
Working group says its proposed changes to Fed framework might prevent repeat of 2023 banking crisis
French expertise is essential to Lebanon recovery – BdL governor
Central bank head meets Villeroy de Galhau in Paris as part of efforts to tackle economic crisis at home
US Basel equivalence questioned as EU patience wears thin
MEPs say unfaithful US implementation of Basel III could trigger review of access to EU markets
Bank of Japan holds rates and halves growth outlook
Path to policy normalisation will depend on negotiations with US over tariffs, analysts say
ECB removes need for governing council to approve CCP facility
New “automatic” facility will require safeguards that are “still being implemented”, bank says
Stress tests stronger in EU than in US – BdF research
Lenders remain well capitalised in both regions but European banks are more resilient, study finds
Post-Covid inflation in US mainly driven by demand – study
Author says findings help account for Fed’s difficulty in achieving 2% target
Nigeria simplifies documentation for pan-African payments system
Revised process will affect PAPPS payments of up to $2,000 for individuals and $5,000 for businesses
SNB introduces new liquidity provision framework
Reformed facility will be less “emergency” in nature and accept broader pool of collateral
UK government ‘must act against decline in cash acceptance’
Parliamentary committee suggests firms could be made to accept cash to protect those who rely on it
BoE plans to link system-wide and individual stress tests
Meanwhile, ECB wants to broaden system-wide stress models to include central counterparties
Six in 10 at ECB do not trust Lagarde – staff union survey
Survey shows frustration at career progression, employment uncertainty and HR over past decade