Geopolitics reshaping finance: Prepare for shock-prone future
Brad Jones of the Reserve Bank of Australia warned that geopolitics is profoundly reshaping the international financial system.
Philip R. Lane, Member of the Executive Board of the ECB, discussed the economic and fiscal implications of the Middle East crisis for Europe.
Sharon Donnery, Member of the Supervisory Board of the ECB, outlined key risks to European financial stability, including geopolitical tensions, digital transformation, and the need for timely remediation of supervisory issues.
Monetary Authority of Singapore Managing Director Chia Der Jiun called for greater resilience, expanded regional cooperation, and stronger international institutions to navigate frequent global shocks.
Central Bank of Ireland Governor Gabriel Makhlouf emphasized the need for macroprudential policy frameworks to evolve with rapid changes in the financial system.
Brad Jones of the Reserve Bank of Australia warned that geopolitics is profoundly reshaping the international financial system.
Bundesbank President Joachim Nagel discussed how central bank digital currencies, stablecoins, and tokenized deposits could impact monetary policy transmission.
Gabriel Makhlouf, Governor of the Central Bank of Ireland, stated the ECB's Governing Council raised its main policy rate by 25 basis points to 2.25 percent.
Norges Bank has kept its policy rate unchanged at 4.25 percent.
Banque de France Governor Emmanuel Moulin emphasized the necessity of a digital euro and wholesale CBDC to maintain monetary sovereignty in the evolving digital landscape.
Olaf Sleijpen of the BIS discussed the complex, multi-faceted nature of current inflation drivers, likening the economic environment to a mythological Chimera.
Denis Beau, First Deputy Governor of the BIS, called for an ambitious simplification of EU banking supervision and regulation.