International
Reserve managers stick to asset diversification
Higher yields not prompting central banks to abandon investments in less conventional asset classes
FSB-IMF report calls for action on external debt
Study finds authorities were able to manage the Covid crisis but have not fixed underlying problems
The international effort to manage NBFI risks: where do we stand?
The Covid-19 shock demonstrated more needs to be done to address stability risks posed by the NBFI sector. Maurizio Trapanese details progress made during the Italian G20 presidency as well as outstanding macro-prudential issues
Reserve managers cut duration as inflation surges
Central banks with bigger portfolios tended to combine this measure with changes in currency and asset allocation, Central Banking survey finds
Media relations is biggest job for comms teams
But website, social media and internal comms also account for significant portions of time
Andrew Bailey acknowledges risk of ‘over-tightening’
Senior economists discuss how to avoid stagflation during a fragile moment for the global economy
Climate change, invasion, recession: policy-makers flag mounting risks
Christine Lagarde and Jerome Powell discuss “ripple effects” of war in Ukraine, while the Barbadian prime minister highlights need for reform at global institutions
IMF panel weighs up wholesale versus retail CBDC
Officials reflect on trade-offs involved in crypto assets and new payments technology
Russia-Ukraine war revealing financial vulnerabilities – FSB’s Knot
Commodities markets, leverage and cyber attacks “warrant further attention”, says FSB chair
Climate transition set to boost inflation, finds Swedish research
Sveriges Riksbank analyses main inflationary forces stemming from climate policies
War forcing central banks into ‘delicate balancing act’, says IMF
Sudden repricing of risk could expose vulnerabilities, fund says in latest stability report
IMF launches vehicle for SDR transfers
Fund’s aim for $45 billion in transfers seems to fall short of earlier ambitions
Mitigating regulatory risks of mobile payments
Third-party payment providers need to give up data to supervisors to prevent fraud
IMF paper calls for action on long-term Covid risks
Vaccination drive is falling short and is not enough on its own, authors say
Quantum computing: ready for prime time?
Central banks should add QC to their strategic planning, despite it being a work in progress
Is a bond market crisis imminent?
Central banks need careful action and a good dose of luck if they are to avoid financial instability
Book notes: Cogs and monsters, by Diane Coyle
Coyle brings much-needed nuance to the debate over the shortcomings of economics
Carstens: world may be on ‘cusp of a new inflationary era’
BIS chief warns new inflationary forces “have emerged with a vengeance”
Fractures in the monetary system
Seizure of Bank of Russia assets likely to have long-term implications for international system
Book notes: Mission economy, by Mariana Mazzucato
Although worth reading, the book doesn’t offer as many answers as it could when it comes to reimagining the capitalist system
Central Banking Awards 2022: the winners in full
Recipients of the 2022 awards include Stanley Fischer, the Bank of Korea, Mario Marcel and many more
Central Banking Awards 2022: final winners unveiled
Prizes for Central bank of the year, Lifetime achievement, Transparency, Economics and more
Lifetime achievement: Stanley Fischer
Fischer has had a profound impact on monetary economics and central banking during his prolific career
Economics in central banking: Wenxin Du
Du’s work clarifies the dollar’s role as a barometer of global markets, and explores the myriad implications for financial stability