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Thai government and BoT agree to keep inflation target intact
Central bank and government reach price goal consensus despite a year of tensions
ECB paper finds asymmetric spillover from US monetary policy
Tightening episodes affect emerging markets more than expansionary episodes do, say researchers
SNB to launch new banknote series
Bank to “pay homage to the country’s unique topography” on new bills
Benchmarking
HKMA partners with Thailand and Brazil on cross-border money
Interoperability work using tokenisation will focus on settlement in trade finance and carbon credits
Minority of central banks keep whole cash cycle in-house
Banknote printing remains central banks’ most outsourced function
ECB reviewing QE but 2% target ‘not up for debate’ – de Guindos
Completing banking union should be the “number one priority” for EU economic policy, says official
Policy tightening reduces labour productivity and presence – paper
Lower participation and labour supply have inflationary effects, Bank of Canada authors find
Savings dampen monetary policy effectiveness – Fed paper
Central banks should track excess saving at a high frequency, authors recommend
Mamo Mihretu on the radical reform of central banking in Ethiopia
NBE head speaks about monetary policy and exchange rate reform, opening the financial system and a fundamental reset of the economy
Malaysia’s Zeti on the key skills needed to be a successful central banker
BNM veteran recounts career-defining lessons and how the ASB synthesises theory with practical EM realities
IMF/ World Bank Autumn Meetings 2024
IMF warns central banks not to keep policy ‘too tight for too long’
Chief economist calls for “triple pivot” as global economic outlook shifts
Governors differ on cross-border payments
Officials from Europe, Africa and Asia diverge over whether bilateral or multilateral links are best
ECB could go below r* when setting policy, says Panetta
Bank of Italy governor says eurozone has to return to “normal way of doing monetary policy”
IMF panellists debate need for updated policy frameworks
Policy frameworks should be informed by pandemic lessons, say central bankers
Editor's choice
Monetary policy and reserves management in an era of uncertainty
Panellists at the Central Banking Summer Meetings with experience of ‘polycrises’ discussed reserves management strategies to prepare for and respond to financially turbulent times.
Suspended Bulgarian deputy claims he is fighting for central bank ‘independence’
Eurozone candidate country’s deputy breaks silence on suspension, and his fight to get reinstated
Obituary: Tito Mboweni, 1959–2024
Sarb’s first black governor championed inflation targeting with “sharp wit”
Demand for cash: a global update
Antti Heinonen explores recent data on banknote demand and analyses its impact on cash infrastructure
Benchmarking
Minority of central banks keep whole cash cycle in-house
Banknote printing remains central banks’ most outsourced function
Inter-bank working groups
Facilitating connections between central bankers across the globe to promote the exchange of expertise and support collaboration.
Upcoming meetings include: Cyber risk management, social media in communications and upgrading forecast models.
All eyes on the Fed
The US central bank faces a challenging path to fulfil its mandated goals
Awards
Central Banking Awards 2024 ceremony honours best in field
Shirakawa receives lifetime award and Brazil is named central bank of the year
Central bank of the year: Central Bank of Brazil
The Latam central bank has pursued its mandate in an exemplary fashion, despite external pressures
Lifetime achievement: Masaaki Shirakawa
The veteran BoJ central banker called out the limits of monetary policy
Governor of the year: Andriy Pyshnyy
Pyshnyy kept Ukraine’s wartime economy stable and won vital foreign support under huge pressure
Video and Podcasts
Masaaki Shirakawa on his ‘unease’ about 2% inflation targets and lessons from Japan
Former BoJ head speaks about the need to understand banking, make contingency plans and current policy constraints
Podcast: cash in the payments landscape
Podcast: the ‘global unsyncing’
Podcast: the ECB’s collateral framework expansion
Book reviews
Book notes: Carbon colonialism: how rich countries export climate breakdown, by Laurie Parsons
Book notes: Money in the 21st century: cheap, mobile, and digital, by Richard Holden
Book notes: The monetarists: the making of the Chicago monetary tradition, 1927-1960, by George S Tavlas
Book notes: Easy money, cryptocurrency, casino capitalism, and the golden age of fraud, Ben McKenzie with Jacob Silverman
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