OMFIF survey: Central banks show initial signs of de-dollarization, with increasing allocations to gold and AI

(1) De-dollarization trend emerges: According to a survey by the Official Monetary and Financial Institutions Forum (OMFIF), over the next 10 years, the number of central banks planning to reduce their US dollar holdings is expected to exceed, for the first time, those planning to increase their US dollar holdings. Central banks around the world are showing a "gradual" move toward de-dollarization. (2) Gold and Renminbi are favored: The proportion of central banks holding physical gold will rise from 71% last year to 82% by 2026; 93% of central banks believe that Renminbi contributes to asset diversification, although market structure still presents obstacles. (3) Euro holdings constrained by returns, AI adoption to accelerate: Central banks are interested in increasing euro holdings, but 60% have not done so due to concerns about low returns; meanwhile, two-thirds of central banks plan to step up their use of artificial intelligence over the next year or two.