Reserves
Trump 2.0 piles pressure on reserve managers
Speakers at Central Banking Spring Meetings discuss positioning, interventions and impact of lost aid
Conservatism in central banking ‘may not exist in 10 years’
Reserve managers at Spring Meetings 2025 share frustrations and discuss new strategies
Deutsche Bundesbank posts €19.2 billion loss for 2024
Croatian and Norwegian central banks report profits
African reserve managers shed light on post-Covid strategies
Volatile environment has led to more experimentation, speakers tell Central Banking Spring Meetings
Bank Indonesia holds rates at 5.75%
Central bank faces dilemma of whether to prioritise bolstering growth or propping up currency
Bitcoin remarks ‘a surprise to CNB staff’ – source
Concern that planned asset allocation review is just “cover-up to push through crypto”
Eurozone ‘not in a recession at all’ – Cipollone
ECB vice-president says there is “room to cut”, digital euro work continues and bitcoin is not gold
CNB takes next step towards adopting bitcoin
Board approves governor’s proposal to look at “additional asset classes”, which could include crypto
European Central Bank makes 25bp cut
Lagarde “confident” EU central banks will not add crypto to their reserves
Czech governor wants central bank to add bitcoin to reserves
Michl to make proposal to CNB’s board, while recognising cryptocurrency “bubble” could burst
IMF tells Kosovo to strengthen central bank reserves
Fund says government should deposit equivalent of 1.75% of GDP as emergency buffer
2025 capital market expectations: slowing but not sinking
Monetary policy is the governor of the relationship between growth and inflation
Nagel worried about giving bitcoin ‘government seal of approval’
EBA and Esma say EU adoption of decentralised finance is “lower than other developed economies”
Finland’s hedge against FX risk ‘not motivated by US tariffs’
Central bank’s head of reserves says decision was part of regular review
IMF: $44bn loan deal to Argentina fell short of expectations
Monetary policy’s effects limited as central bank suffered heavy cashflow losses, evaluation finds
CNB ‘considered’ adding bitcoin to reserves – governor
Governor says central bank could “continue to debate” using cryptocurrency in diversification drive
Madagascar’s governor on targeting M3 over inflation
Central Bank of Madagascar head Aivo Andrianarivelo speaks about introducing an interest rate corridor, diversifying from dollars to gold, using instant payments to bolster inclusion and drawing on IMF sustainability funding
Book notes: Default: the landmark court battle over Argentina’s $100 billion debt restructuring, by Gregory Makoff
Required reading amid current high sovereign debt, global tensions and the urgent need for climate finance
CNB’s Aleš Michl on tackling inflation, Friedman’s legacy and ditching DSGE
The Czech governor speaks about policy mistakes, targeting M2, diversifying into equities and gold, building new models and ending interest payments on minimum reserves
Bitcoin reaches new high after Trump’s pledge to create reserve
President-elect says he does not want “China or anybody else” to take leading role on digital asset
China’s inflation drops to five-month low, despite stimulus
Some analysts expect PBoC to deliver further cuts in rates and RRRs by end of 2025