International
CGFS draws lessons from 168 years of macro-pru policy
Controlling housing market risks can force authorities into difficult political economy terrain
Higher rates will push up firms’ debt costs gradually, says research
Authors warn that financial vulnerability could stem from higher for longer rates
Obstfeld argues central banks’ rate models are ‘conceptually flawed’
Former IMF chief economist says rates could soon return to the effective lower bound
BIS weighs possible shift in global liquidity conditions
Nervy markets struggle to digest rates outlook, as BIS research finds deeper shift may be underway
Policy-making amid war in Gaza
Bank of Israel has implemented a textbook crisis response, but uncertainty remains
BIS says CBDC can be monitored without personal information
Project Tourbillon dashboard allows aggregate-level monitoring
Basel Committee mulls mandatory climate disclosures
Proposals envisage ‘iterative process‘ of adding climate risks to Basel framework
FSB warns of spillovers from ‘multifunction’ crypto firms
High risks and poor governance in crypto sector could impact traditional finance, report says
The ECCB’s Timothy Antoine on currency union, cooperation and DCash 2.0
The ECCB governor speaks with Christopher Jeffery about maintaining a currency zone, addressing climate and cyber risks, the decline in correspondence banking and lessons learned from issuing a retail CBDC
Cyprus central bank defends supervision after sanctions-busting claims
Prime minister pledges report after media investigation says Russians used local firms to dodge sanctions
Carstens says ‘quantum leap’ needed to overcome legacy systems
BIS chief says tokenisation, CBDC and unified ledgers could ‘democratise’ finance
Currency Benchmarks 2023 – model banks analysis
Data reveals how advanced and emerging market central banks structure their currency operations
Strong dollar harms EME bond market liquidity – BIS paper
Dealer intermediation vulnerable to both “original sin” and “original sin redux”
Currency Benchmarks 2023 report – steady as they go
Data hints cash is slowly changing from payment method to store of value
Supervisors face reputational risk from fraud, Basel Committee says
Surveys shows some forms of digital fraud are rising, but data gaps are “significant”, paper warns
BIS names top journals for central bank research
Not all of the top five general economics journals make the list, and finance journals miss top spots
CBDCs could challenge foundations of monetary economics, says Tombini
BIS Americas chief thinks digital currencies could co-exist with other rapid payment systems
Middle income countries recall highest volume of worn banknotes
High income jurisdictions remove notes with the highest average value
Costa highlights economic costs of gender inequality
Chilean governor says women’s marginalisation reduces growth and innovation
UK financial institutions are ‘global public good’, says Bailey
BoE governor warns against fragmentation, criticises Brexit and discounts rate cuts
IMF’s Adrian says world needs $5 trillion annual climate funding by 2030
Multilateral banks working to ‘crowd in’ private finance to meet need
Corridor, floor, other: are operating frameworks fit for the future?
Central banks are becoming uncomfortably aware that monetary operations have ramifications well beyond setting short-term rates
IMF proposes 50% increase in quotas but no voting reform
Proposal likely to be acceptable to US but would not boost emerging markets’ representation
Covid-era fiscal policy helped fuel inflation, researchers say
Robert Barro and Francesco Bianchi say their evidence supports fiscal theory of the price level