Communication
How Turkey’s president created chaos in economic policy-making
Observers allege presidential domination of the central bank, unauthorised FX transactions and untrustworthy statistics
Digitisation: transforming the role of central banks
With the rapid pace of technological change in global financial markets, central banks are increasingly recognising that many legacy tools, methods and manual processes are inadequate, writes Sachin Somani
Reforming FX reserve and macroeconomic management for ESG
Arnab Das, global market strategist, Europe, the Middle East and Africa, at Invesco explores why central banks must play a role in ESG risk mitigation, management and prevention, as they are expected to during wars, pandemics and other major shocks.
Furlough uncertainty delayed BoE rate hike – Bailey
Roughly a million people were still using the job protection scheme when it ended, governor says
Central bank signals could be impacting natural rate – BIS paper
“Learning process” could explain decline in interest rates without drop in productivity, authors say
Half of central banks quarantined banknotes during the pandemic
But only 37% ran a study relating to Covid-19 and banknotes
Podcast: Dominik Weh on why central banks need to embrace technology
Central banks need to keep abreast of the current technology or risk being left behind
Fed pulls trigger on taper
Fed begins phasing out QE at initial rate of $15 billion per month
‘Say what?’ Trust in central bank communications
Central banks are changing how they communicate with different audiences, but judging the success of these communication efforts is difficult
Central bank communications ‘after’ Covid
From crisis responses to coping with sudden digitisation, Covid-19 forced central bank comms teams to innovate fast. How much of it will stick?
James Bullard on Fed policy, action and governance
St Louis president calls for tapering amid “exceptional” job market and risk of “more persistent” inflation, quantifies ‘big tent language’ for pioneering AIT move, and details Congress’s role in Fed ethics oversight
BoE ends off-the-record meetings with banks
Change follows concerns about similar practices at other central banks
Covid-19, crypto and climate weigh on global economy – GFSR
Central banks face difficult “intertemporal trade-offs”; poorer nations unlikely to regain pre-Covid growth levels for “many, many years”, says IMF’s financial counsellor Tobias Adrian
Why fintech governance matters for central banks
Fintech throws up an array of challenges that may require central banks to adapt their frameworks
Wide range of financial stability arrangements among central banks
Boards are prime financial stability decision-making body at many participants
Agustín Carstens on BIS strategic priorities, innovation and central bank policy
The BIS general manager speaks about policy trade-offs at critical time, tackling NBFIs and the dearth of ‘green’ assets, tech collaboration, and why he favours Biden’s $3.5trn infrastructure bill
Monetary Policy Benchmarks 2021 report – executive summary
Insights into the staff that work on monetary policy, decision-making, tools, transparency and market operations
Sustainability: a hallmark of cash
Tod Niedeck, corporate marketing director at Crane Currency makes the case for the sustainability benefits that are inherent in the production of paper banknotes, contrasting this with the environmental difficulties that face plastic banknotes at the end…
Central banks split on blackout periods
Reasons for operating blackout periods include facilitating effective policy transmission and avoiding speculation
Central banks divided on publishing policy meeting minutes
Central banks in advanced economies more likely to publish minutes
BIS to throw open doors for 90th anniversary
Delayed celebration will invite public to multimedia exhibition in main tower
Majority of central banks do not take account of forecast errors
Surveys of inflationary expectations used widely, alongside macroeconomic and market indicators
Book notes: How boards work, by Dambisa Moyo
Moyo offers insights into the skills required to be a valued board director, as well as a thought-provoking list of issues that may appear with greater frequency on future board agendas
Powell says taper test has been met ‘with regard to inflation’
Fed chair tells Jackson Hole conference that slowing QE this year “could be appropriate”