Central Banking

2 days ago | centralbanking.com | Levente Koroes

The governors of the German and Spanish central banks have criticised the policies of US president Donald Trump’s administration. In an interview with Süddeutsche Zeitung, Joachim Nagel chastised the administration for assailing the independence of the Federal Reserve system. In the same interview, the Bank of Spain’s governor José Luis Escrivá said the wave of financial deregulation in the US was “one development that may give rise to concern”. The Deutsche Bundesbank president said central bank

2 days ago | centralbanking.com | Levente Koroes

Hungary’s government is looking to change the law governing the central bank. Its proposed amendments would ban the Central Bank of Hungary (MNB) from creating new foundations, add a fourth deputy governor and expand the monetary policy committee from nine to 11 members. In the package of amendments, seen by Central Banking, the government said that adding a fourth deputy governor would ensure a “more effective fulfilment of fundamental and other statutory tasks”. On April 25, the MNB announced the

3 days ago | centralbanking.com | Levente Koroes

The European Bank for Reconstruction and Development (EBRD) has revised its growth figures for the regions it oversees. In a report released today (May 13), the multilateral development bank downgrades its forecast for growth in 2025 by 0.2 percentage points relative to its forecast in February. The EBRD had previously revised its projection down by 0.3 points compared with its forecast in September. The bank now expects economic growth to average 3% in 2025 in the face of increased global policy

1 week ago | centralbanking.com | Levente Koroes

The Bank of Spain has imposed a 4.5% systemic risk buffer (SyRB) on Santander’s Norwegian exposures. In a statement on May 8, the central bank explained that the lender’s exposure to Norway exceeded Nkr5 billion ($482.4 million). This meant Santander was not exempt from the recommendation by the European Systemic Risk Board (ESRB) that the Bank of Spain should impose on the lender a buffer identical to that imposed by Norway’s prudential authority. The central bank said it had sought the opinion

1 week ago | centralbanking.com | Levente Koroes

The central banks of Albania, Norway, Poland and Sweden all made rates decisions this week. While Albania and the two Nordic countries both opted to hold, Poland announced its first cut since 2023. All four central banks cited the international uncertainty resulting from US trade policy as a factor in their decision-making. Albania: tentative holdThe Bank of Albania held rates yesterday (May 7). In its statement, the bank said its policy rate would remain at 2.75%, while its overnight deposit and