International
BIS publishes centuries of data on central bank balance sheets
New “spliced” series extends back to founding of Sweden’s Riksbank in 17th century
‘State-dependent’ model sheds light on inflation surge
Bank of Spain’s Galo Nuño says changing key pricing assumption helps explain “immaculate disinflation”
Neural networks are ‘powerful tool’ for non-linear analysis – paper
Machine learning technique highlights downsides to inflation target ranges
How to increase the impact of financial literacy initiatives
As surveys show financial literacy outcomes falling short, Pedro Duarte Neves distils key lessons
Central banks face a capital framework imbalance – should we care?
Most economists say clear recapitalisation frameworks are important. But many central banks still lack them
Falling r* a ‘mirage’ in open economies – IMF paper
Adding exchange rate to standard model significantly changes predictions, authors find
Central bank balance sheets: is there an optimal structure?
Establishing guidelines is challenging, although there are many reasons why CBBSes are heterogeneous
Monetary Policy Benchmarks 2024 – model banks analysis
Further breakdowns of the data reveal patterns in staffing, liquidity tools and transparency
Emerging markets at greater risk from stablecoins, FSB warns
Limited regulation, resourcing constraints and FX exposures create hazards for poorer countries
Monetary Policy Benchmarks 2024 – executive summary
Key findings from the benchmark on policy tools, liquidity facilities, transparency and more
Nature risk poses ‘major data and modelling challenges’ – FSB
Stocktake finds supervisors at varied stages of analysing biodiversity loss and related risks
Ukraine’s governor on central banking as war endures
The NBU’s Andriy Pyshnyy speaks about the need for investment and reform amid labour shortages, securing war-risk insurance and Ukrainian funding from Russia’s frozen assets
Basel Committee approves new stablecoin exposure framework
Details on new crypto asset and IRRBB rules, plus third-party risk consultation due out this month
AI, quantum computing and tokenisation set to transform finance – Menon
But significant barriers remain preventing the technologies from unlocking their full potential
Banque de France and HKMA to conduct cross-border CBDC test
HKMA is the first non-European central bank to join the Eurosystem’s wholesale DLT settlement trials
Malaysia’s Rasheed expects a “bumpy road” for EM currencies
Governor Abdul Rasheed Ghaffour says BNM will intervene if needed ahead of future Fed cut; rules out capital controls but has encouraged institutions to repatriate earnings
BNM’s Rasheed on inflation, growth and currency performance in emerging markets
Bank Negara Malaysia’s governor speaks about balancing inflation and growth, supporting the ringgit, multilateral currency settlement and greening Islamic finance
Masaaki Shirakawa on his ‘unease’ about 2% inflation targets and lessons from Japan
The former Bank of Japan governor speaks with Christopher Jeffery about the need to properly understand the business of banking, making sound contingency plans and the BoJ’s current policy constraints
BIS profit rises as balance sheet grows
Institution close to completing five-year strategic plan, as deposits hit record high
Monetary policy could face ‘tougher tests’ ahead, BIS warns
Soft landing “in sight”, but pricing imbalances, fragile fiscal policy and financial vulnerabilities loom
Payments Benchmarks 2024 – model banks analysis
Breakdowns of key data from the payments benchmark shed light on how the function is governed
Economists explore 200 years of data on sovereign defaults
“Serial restructurings” are on the rise, with investors taking an average haircut of 45%
Simpler models can capture dynamics of Hank framework – NBER paper
Heterogeneity can be “irrelevant” to determining output in some situations, authors find
Expanded IMF mandate presents ‘serious’ challenges, review finds
Independent review finds staff have been overstretched by work on climate, gender and technology