Central Banks
Masaaki Shirakawa on lessons from crisis and how to reform central banks
The former governor reflects on a turbulent 40 years at the Bank of Japan, and considers how central banks might face up to the challenges of the future
Advanced economies draw on wider range of models
DSGE models and newer techniques more common at advanced economy central banks
BoE tightens countercyclical buffer as risks stabilise
Banks expected to meet higher rate without cutting lending, even as capital ratios dip
ECB’s de Guindos tests positive for Covid-19
Vice-president has “very mild” symptoms and has not been in “close contact” with Christine Lagarde
BSP inks deal with Australian firm for polymer note
Note Printing Australia will produce 1000-peso banknote, circulating from next year
US inflation reaches new peak
CPI figure hits 6.8%, the highest rate in nearly four decades
Reserve Benchmarks 2021 – presentation
Central Banking’s reserve subject matter specialist Victor Mendez-Barreira speaks with Chris Jeffery about liquidity, reserves coverage, external partners, human and tech resources, and ESG implementation
The matter of minutes: Why open up private deliberations?
Many central banks publish records of MPC meetings, but far fewer publish vote tallies. Where should public scrutiny stop?
Quarterly forecast updates predominate
Frequency of forecasts varies more widely in emerging markets
Polish central bank hikes rates again
NBP says it will continue to act to push inflation back to target
Peruvian central bank orders fifth consecutive rate hike
Board says it may not implement further hikes and above-target inflation is “transitory”
IMF criticises Chilean pension withdrawals
Fund says crisis measure was excessive and now threatens process of market deepening
Labour market changes key to inflation – BIS’s Shin
Central banks may face “race against time” to prevent wage-price spiral, says Hyun Song Shin
Book notes: Shades of sovereignty, by Paul Wilson
An essential and stimulating read for central bankers thinking about the monetary history of their state in relation to its historical perspective and broad international trends
Data services centralised at minority of central banks
Central data governance and technology services used by three in 10 central banks
Guinea junta replaces central bank leadership
Military president removes governor chosen by his civilian predecessor
BoJ does not need to tighten policy – deputy governor
Masayoshi Amamiya says Japan is facing a unique inflation situation
Brazilian MPC tightens rates again despite sluggish growth
MPC “foresees another adjustment of the same magnitude” at next meeting
People: Arce to lead ECB economics directorate
SNB deputy to retire; Vanuatu names new deputy; Glenn Stevens to chair Macquarie; and more
BdF paper looks at use of capital controls and foreign reserves
Many countries combine both to moderate effects of international capital flows
Alternative data fuels central bank research
Important research areas include monetary transmission, exchange rates, digitisation, SMEs and climate change, against the backdrop of Covid