News & Insights

The world's major central banks are no longer moving together. The new Federal Reserve chair, Kevin Warsh, has backed rate cuts, while the European Central Bank (ECB), Bank of England (BoE), and several other major central banks are moving in the opposite direction. Multinational treasury teams are reading this central bank divergence as a currency problem: when the Fed cuts and the rest of the world holds, the US dollar weakens, offshore earnings translate at a disadvantage, and the hedge program covers the gap. That response is not wrong, but it addresses roughly half the exposure.

For most of my career, the big finance question was simple: where are rates going? In 2026, that question is starting to matter less. The broader issue now is how fast can your assumptions break, and how ready are you when they do?

Our global survey quantifies CFO confidence through three data-driven pillars: Optimism, Preparedness, and Risk. Learn more about the Kyriba OPR Index.

Treasury teams are managing more fraud vectors than at any point in recent memory. The surprising part isn't the number of threats. It's that every one of them finds the same way in.