The 31st Executives’ Meeting of East Asia-Pacific Central Banks (EMEAP)
2 The meeting, chaired by Mr Chia Der Jiun, Managing Director of MAS, discussed macroeconomic developments in EMEAP economies, the implications of elevated uncertainty in the global economy, and the impact and potential risks of Artificial Intelligence (AI) on EMEAP economies and financial systems.
3 The Governors reaffirmed the importance of continued vigilance and agility among central banks. In particular:
- Governors considered how AI developments interact with economic structures and may affect financial stability, including potential financial risks from large AI investments. Governors also discussed the prospects of using AI to augment the work of central banks.
- Governors discussed updates on regional developments in AI/digitalisation and the macro-financial outlook amid geopolitical tensions.
- Governors resolved to deepen the exchange of views and mutual understanding of the cross-cutting issue of digital fraud and scams affecting the financial sector.
4 The Governors also endorsed the Chairmanships for the Monetary and Financial Stability Committee and Working Groups for 2026–2028, and expressed their appreciation to the outgoing Chairs from 2024–2026.
5 Bank Indonesia will chair and host the 32nd EMEAP Governors’ Meeting in 2027.
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[1] EMEAP is a cooperative forum comprising eleven central banks and monetary authorities in the East Asia and Pacific region: Reserve Bank of Australia, People’s Bank of China, Hong Kong Monetary Authority, Bank Indonesia, Bank of Japan, Bank of Korea, Bank Negara Malaysia, Reserve Bank of New Zealand, Bangko Sentral ng Pilipinas, Monetary Authority of Singapore and Bank of Thailand.
