Central Bank

Introduction Germany, by releasing its Debt Brake and borrowing more itself, will use up the capacity the markets rely on to bail out the euro. Markets complacently believe the €1.5…

Introduction The European Central Bank (ECB) issued its 2024 annual report on 20th February and revealed that it now has negative capital.1 What with the German elections delivering a stalemate,…

European regulators have focused on climate change.  Specifically, the mandating of a ‘green transition’ requiring a rapid take-up of electric vehicles, ending of the sale of petrol and diesel vehicles,…

Introduction In September, the Chinese authorities announced a package of measures to stop the fall in real estate prices, encourage investment in assets other than real estate, and bolster share…

Introduction Governments made major interventions to shore up the financial system during the Global Financial Crisis, which lasted from 2007 until the end of the Eurozone crisis in 2012. These…

Introduction The Bank of England has taken the lead amongst the world’s central banks in issuing a working paper about how central banks can replenish their capital, now that they…

Introduction – 130 Central Banks have CBDC Projects Since we last reported on the ECB’s thinking about CBDCs1, multiple central banks have undertaken research in designing, operating and selling CBDCs.…

Followers of US monetary policy are raising concerns about the consequences of the Federal Reserve’s efforts to reverse the 17% growth in the money supply (M21) in the two-year period…

Introduction Central banks have undertaken many investigations, pilots and proofs-of-concept into Central Bank Digital Currencies (CBDCs), proving little beyond the lack of a convincing case in their favour, but unearthing…

European growth stutters along as fear of deflation exerts pressure on the ECB to loosen monetary policy further.