Analysis
Will Treasury yields keep on rising?
Falling price of US bonds may force reserve managers to change duration to preserve capital
How valuable is a PhD economist?
Heads of research from Canada, Israel and North Macedonia weigh the benefits of advanced economics education – and the challenge of retaining top staff
Central banks look to shockproof models in wake of Covid-19
The Covid-19 crisis caused many central bank models to break down. Economists at the St Louis Fed, Bank of Spain and ECB were quick to innovate and say they will continue testing new tools
Central bank social media usage continues to evolve
User growth among central banks has started to level off, but those that use social media platforms are seeing growing subscriber bases and an increase in engagement
2020: The year in review
The past 12 months have been marked by crisis-fighting and losses, but also innovation
What does 2021 hold for the ECB?
Former officials reflect on AIT, how the strategy review may affect normalisation, QE options and the need for new tools
A ‘love-hate’ relationship with ESG screens
ESG screens seen as a first step in adopting sustainable investment practices, so why do so few central banks use them?
The long-term impact of Covid-19 on banknote demand
The coronavirus pandemic has challenged cash usage assumptions at a time when central banks make only limited use of longer-term forecasts
Should the ECB follow the Fed in adopting a dual mandate?
Current and former officials argue an expanded mandate could prove ineffective and compromise ECB’s independence
Fed’s new framework splits opinion
Former Fed officials offer mixed reactions to average inflation targeting, with most calling for the US central bank to refine its communication
Beyond climate: addressing the ‘E’ in ESG
Environmental degradation raises fundamental questions about how central banks think about risk; efforts to expand focus beyond climate risks now under way
Is there a rift in the ECB governing council?
Mixed messages from Christine Lagarde were followed by sharp divergence among board members
Euro failing to challenge US dollar in global reserves – CBI Benchmarks data
Among non-European central banks euro sovereign debt accounts for just 4.1% of reserves; negative rates act as a major barrier, say reserve managers
Libra reinvents itself in bid to overcome ‘fatal’ flaw
Pivot to present more of a payment-network image could save libra from regulatory haranguing. But at what cost for innovation?
After social distancing: prepare for national distancing
If the Covid-19 pandemic triggers a desire to onshore production, international capital flows will come under a new spotlight
Have equities passed the Covid-19 test?
Reserve managers face a rebalancing and asset allocation challenge, with Fed interventions distorting yield curves and boosting equity valuations. What’s next for asset diversification?
Fed’s safety nets are ‘fundamentally unsustainable’
The Fed’s new safety nets will allow “zombie companies” to thrive and drag down productivity; ever-increasing levels of interventions are “fundamentally unsustainable, intertemporally”, says William White
Lebanon’s powerful central bank chief and its slide into crisis
Governor Salameh created unsustainable banking sector, former minister alleges in an interview
Covid-19 and oil: a tale of three countries
Oil-dependent nations are facing a crisis on two fronts. Central banks must now strike a balance between keeping inflation in check and restoring growth
Why has the euro failed as a global reserve currency?
ECB's Klöckers says fragmented capital markets and incomplete banking union holding euro back; while sovereign crisis and low yields contributed to 'underperformance' as a reserve currency, survey finds
Trends in reserve management: 2020 survey results
Covid-19 expected to dent the risk appetite of central bank portfolio managers; socially responsible investing gains ground
Should the BoE go negative?
Much research into negative rates suggests central banks should have little to fear, but there are plenty of caveats
Reserve managers ‘unprepared’ for home trading
Covid-19 presented reserve managers with unprecedented business continuity challenges at a time of acute market and economic distress
Fears rise over breakdown in Basel and IFRS standards
Bretton Woods institutions worried about growing divergence in capital and accounting standards as credit impairment tsunami looms; US and many emerging economies skirting the rules