Europe
People: New faces on IMF exec board
Plus, appointments at Deutsche Bundesbank and Czech central bank
Central bankers weigh up prospects for Project Nexus
Policy-makers from Asean states, India and EU discuss goals for multilateral cross-border payments link
ECB to introduce structural bond portfolio and LTROs – Schnabel
Executive board member says QT worries have not materialised
Europe’s central banks diverge on monetary policy
Norway holds, while Albania, Czech Republic and Sweden proceed with cuts
BdF deputy governor softens digital euro regulatory stance
Beau says central bank money is safer, more liquid and less volatile than stablecoins
Rate uncertainty means firms hire and invest less – BdF study
European companies hoard cash and reduce dividend payments when monetary stance is unclear
ECB study highlights firms’ exposure to property downturn
Analysis examines risks to various classes of investor from exposure to commercial real estate
Smaller banknote denominations have shorter lifespan
High income central banks produce longer-lasting cash
Middle income central banks see largest volume of counterfeit notes
Foil remains least used security feature for banknote production
Exact inflation at 2% not ‘realistic, nor necessary’ – BdF governor
Villeroy de Galhau says central banks should advocate for structural policies
Majority of central banks have emergency cash inventory
But few respondents say they have alternative strategies in place
Half of central banks recycle banknotes as sustainability measure
Most currency operations lack climate strategy, but a few plan to launch one
Savings dampen monetary policy effectiveness – Fed paper
Central banks should track excess saving at a high frequency, authors recommend
Minority of central banks keep whole cash cycle in-house
Banknote printing remains central banks’ most outsourced function
ECB reviewing QE but 2% target ‘not up for debate’ – de Guindos
Completing banking union should be the “number one priority” for EU economic policy, says official
‘No compelling case’ for a Eurosystem dot-plot – Nagel
Bundesbank president says uncertainty needs to be communicated more clearly
Currency staff make up 8% of central bank workforce
Institutions with own printworks have larger currency departments
Governors weigh macroeconomic risks at G30 event
Officials from Netherlands, South Africa, BIS and more consider debt, inflation and climate change
Raised tactile features are most common banknote visual aid
Assistive mobile application offered by just two central banks
Suspended Bulgarian deputy claims he is fighting for central bank ‘independence’
Eurozone candidate country’s deputy breaks silence on suspension, and his fight to get reinstated
Polymer substrates used on one-fifth of banknotes
Data reveals widening adoption in upper-middle income jurisdictions