Central Banking Journal - Volume XXXIV Number 1
Articles in this issue
A ‘unified ledger’ and the future of money
Blueprint set out by the BIS staff raises plenty of questions about the 'singleness of money'
People: July to September 2023
A round-up of central bankers in the news and on the move during the past three months
Banknotes: July to September 2023
A round-up of news and salient issues that have affected central bankers in the past three months
RBI’s Shaktikanta Das on financial sector reform, sticking to inflation targets and the e-rupee
The Reserve Bank of India governor speaks about developing credible self-insurance and sizeable FX reserves, inter-dependence with government, non-bank and bank regulatory reforms, demonetisation, rupee internationalisation and daily UPI payments hitting…
ECB: from a supply to a demand-driven floor?
Eurozone’s central bank expected formally to abandon corridor in forthcoming operational framework review
Ukraine’s governor on central banking in wartime
Andriy Pyshnyy talks about macroeconomic stability, running banks under missile attack, winning IMF aid and post-war reconstruction plans
BoJ’s easing stance fuels yen undervaluation dilemma
Japanese policy-makers need to consider feedback loop that an undervalued yen has on cost-push inflation; reflect on YCC exit options in ‘broad perspective review’, writes Sayuri Shirai
Machine learning pushes frontier of forecasting
AI techniques are starting to transform central banks’ statistical modelling. They could soon revolutionise structural models as well
Deposit insurance: what lies ahead?
Proposals to redesign deposit insurance may be neglecting the market’s role, says Manoj Singh
Senad Softić on governance, currency boards and EU convergence challenges
Central Bank of Bosnia and Herzegovina governor speaks about improving governance in a political vacuum, managing a currency board amid rip-sawing euro rates, resolving Gazprom’s local units, modernising payments and meeting EU convergence criteria
Central bank communicators at a time of transparency
Specialists discuss the evolving roles of comms staff in the policy-making process
Climate change: a new financial risk for central banks
Overcoming ‘analysis paralysis’ and the lessons in capturing climate-related financial risks on the Deutsche Bundesbank’s balance sheet
Time to pay policy-makers based on their performance
The remuneration framework for central bankers needs reform amid failures to hit inflation targets, argues David Bholat
When £1 is not £1
Gabriel Stein examines the risks from introducing a CBDC should its value diverge from that of physical currency and bank deposits
Guillermo Avellán on BCE independence, capacity-building and dollarisation
Central Bank of Ecuador general manager speaks about the need to bolster the central bank’s legal autonomy, dollarisation challenges, payments developments and monetising local gold production
Equities look set to stay in FX reserves portfolios
Despite 2022 losses and higher bond yields, central banks maintain commitments to the risky asset class
Book notes: O Governador, by Luis Rosa
Documents Carlos Costa’s clashes with Portugal’s elite during the eurozone sovereign debt and banking crisis
Book notes: Labor in the age of finance, by Sanford M Jacoby
A fascinating attempt to document the US labour movement’s efforts to use pension fund money to bolster its voice
Book notes: Forks in the road, by C Rangarajan
A memoir by one of India’s most distinguished governors, who presided over critical policy issues such as the 1990s’ balance-of-payments crisis
Book notes: Inflation targeting and central banks, by Joanna Niedźwiedzińska
A useful and rich reference source, especially for central banks moving to adopt inflation targeting
