Latest / Monetary Policy Explained with Fexingo: Central Banks, Money Supply, and Interest Rates
How Central Banks Are Building Real-Time Payment Systems
This episode of Monetary Policy Explained examines the quiet revolution in central bank payment infrastructure. Lucas and Luna explore how the Federal Reserve's FedNow service, launched in 2023, is competing with private real-time payment networks like The Clearing House's RTP. They discuss why the ECB's TARGET Instant Payment Settlement (TIPS) processed over 300 million transactions in 2025, how the Bank of England is testing a wholesale CBDC for interbank settlements, and what this means for the speed of monetary transmission. The hosts break down how instant settlement…
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