International
Large firms drive inflation in advanced economies – BIS study
Analysis of barcode scanner data finds pricing decisions by individual companies have outsize impact
NBER paper explores sources of ‘geoeconomic power’
Authors write of “urgent need” to understand “new era of geoeconomic rivalry”
Central banks must be responsive to commodity price swings – BIS
Risk of transitioning to “high-inflation regime” may require more active policy, bulletin says
CPMI outlines backing for payments data harmonisation
BIS committee aims for greater harmonisation of ISO 20022 to support cross-border payments
Accounting for banknotes
Three leading experts on central bank finances debate the appropriate treatment of currency
Claudio Borio joins the Central Banking Advisory Board
Economics expert and ex-BIS research head joins peers from across the globe
IMF develops stress test for central bank balance sheets
Framework designed to help risk teams determine appropriate profit distributions
2024: The year in central banking
A look back at the biggest and most popular news stories of the year
Book notes: Default: the landmark court battle over Argentina’s $100 billion debt restructuring, by Gregory Makoff
Required reading amid current high sovereign debt, global tensions and the urgent need for climate finance
CNB’s Aleš Michl on tackling inflation, Friedman’s legacy and ditching DSGE
The Czech governor speaks about policy mistakes, targeting M2, diversifying into equities and gold, building new models and ending interest payments on minimum reserves
FSB launches plan to rein in non-bank leverage
Limited data and uneven regulatory mandates pose major challenges
IMF team builds new multi-country semi-structural model
G3MOD designed for frequent analysis by central banks of trade and financial links
Assets held by risky non-banks grew to record high in 2023 – FSB
Surging asset prices caused sector to grow more than twice as fast as banks
Economics Benchmarks 2024 report – making models work
The benchmarks this year include more granular details on key model design features
BIS highlights market ‘uneasiness’ over bond issuance
Claudio Borio says fiscal outlook worldwide is “acutely worrying”
Central banking amid uncertainty and Trump 2.0
Deglobalisation set to challenge the central banking orthodoxy of the past 40 years
OECD highlights ‘resilient’ economies beset by risks
Geopolitics, high public debt and possible repricing in private credit markets threaten outlook
Economists least likely to research impact of AI
Inflation dynamics retains position at top of the rankings
Nandalal Weerasinghe on Sri Lanka’s IMF programme, central bank reforms and road to recovery
The Central Bank of Sri Lanka governor speaks about his return from retirement to aid Sri Lanka’s structural reforms and recapitalisation, reinforce central bank independence and develop financial resilience
‘Financial conditions targeting’ could help stabilise output – paper
“Risk-centric” New Keynesian model highlights benefit of acting on financial conditions
Banknotes: October to December 2024
A round-up of news and salient issues that have affected central bankers in the past three months