Technology, money and the financial infrastructure of the future
What changed vs prior statement
- 01No material change in policy stance vs prior statement.
- 02Language essentially preserved across key themes related to financial studies and digital finance.
- 03No vote-record change.
From the original
Keynote speech by Mr José Luis Escrivá, Governor of the Bank of Spain, at the 10th Annual Conference of Mediterranean Central Banks "Digital currencies, payments and reserve management”, Roda de Berà, 1 October 2026.
Related speeches
4 itemsJosé Luis Escrivá: Capital flows, exchange rates, and geopolitics - the value of trust in a changing global order
The desk interprets José Luis Escrivá's recent remarks on capital flows and exchange rates as a critical signal of the evolving geopolitical landscape impacting currency markets. Per the full note [source], Escrivá emphasized the importance of trust in maintaining stability in capital flows, suggesting that geopolitical tensions could lead to increased volatility in exchange rates. This perspective aligns with our view that the EUR/USD could be influenced by shifts in investor sentiment and central bank policies, particularly as the ECB navigates its own challenges. With the consensus target for EUR/USD at 1.075, the desk sees potential for movement towards the upper end of the range as geopolitical factors play out.