Phillips curve differs depending on labour market – Fed study
Research finds curve to be flat in normal markets and steep in tight ones
Credit expansion could dampen growth in EMEs – BIS bulletin
Shift in lending from manufacturing and into real estate is also affecting productivity
US Bancorp ever more reliant on LCR relief
HQLAs would only cover 91.4% of bank’s net cash outflows without Fed’s cap
Malaysia holds policy rate
Decision comes after country posts 5.9% year-on-year growth in Q2 and currency rebounds
Editor's choice
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Interpreting the PBoC’s slew of policy reforms
An insight into new stimulus measures, bond market tactics, deflationary pressures and framework changes
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Financial Stability Benchmarks 2024 report – seeking sounder banks
Banking regulation remains a work in progress for many central banks, but staffing is a problem
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Central banks face a capital framework imbalance – should we care?
Most economists say clear recapitalisation frameworks are important. But many central banks still lack them
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Central bank balance sheets: is there an optimal structure?
Establishing guidelines is challenging, although there are many reasons why CBBSes are heterogeneous
Benchmarking
Cyber crime is central banks’ top financial instability risk
Upper-middle income countries more likely to be wary of foreign exchange crisis
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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
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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
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Podcast: cash in the payments landscape
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Podcast: the ‘global unsyncing’
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Podcast: the ECB’s collateral framework expansion
Book reviews
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Book notes: Easy money, cryptocurrency, casino capitalism, and the golden age of fraud, Ben McKenzie with Jacob Silverman
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Book notes: How a ledger became a central bank: a monetary history of the Bank of Amsterdam, by Stephen Quinn and William Roberds
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Book notes: Bucking the buck: US financial sanctions and the international backlash against the dollar, by Daniel McDowell
![](/sites/default/files/styles/landscape_480_296/public/2024-05/Wealth%20of%20a%20Nation%20by%209780691247014_FC.jpg.webp?itok=POClhQ4i)
Book notes: The wealth of a nation, by George Hodgson
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