Overview

• One in three central banks surveyed by OMFIF plan to increase gold reserves over the next two years, with 40% aiming to boost holdings further over the coming decade.
• A net 16% of reserve managers intend to raise euro allocations in the next 12 to 24 months, and some foresee the currency’s share of global reserves recovering toward 25%.
• Over 30% of central banks expect to increase yuan holdings over the next decade, with the renminbi’s share of reserves projected to triple to around 6%.
• Seventy percent of respondents cited US political uncertainty as discouraging dollar investments, and the dollar’s share of global FX reserves is forecast to decline from 58% to 52% by 2035.
• Enhanced EU capital market integration and expanded eurozone bond issuance are viewed as critical factors for the euro to gain a larger slice of global reserves.