Coronavirus
Profit inflation and monetary policy: weighing the evidence
Biagio Bossone says profit inflation needs monetary ‘fuel’ to rise – but fiscal policy is the best fix, should governments have the ‘guts’
BIS’s Zhang Tao on why Asian central banks favour a broader policy mix
The BIS’s Asia chief speaks with Christopher Jeffery and Jimmy Choi about supporting liquidity, financial stability and innovation in the Asia-Pacific region
Dallas Fed analysis explains puzzle of strong US economy
Authors say US has enjoyed favourable supply-side conditions that others missed out on
The BoJ’s possible path to positive rates
Are market expectations about a spring shift from negative Japanese rates credible, asks Sayuri Shirai
Internal investigation criticises former Boston, Dallas Fed chiefs
Report says officials created appearance of conflict of interest, but stops short of alleging criminality
The risks facing the Chinese economy
China isn’t at risk of a financial meltdown, but it does face a slow puncture, writes Michael Taylor
Ghana’s Ernest Addison on the chain of events that led to a loss of $5 billion
The Bank of Ghana governor speaks with Christopher Jeffery about what necessitated monetary financing, the boundaries of ‘independence’ and the results of offline tests of the e-cedi
Policy-making amid war in Gaza
Bank of Israel has implemented a textbook crisis response, but uncertainty remains
Karnit Flug on the Bank of Israel’s emergency responses and challenges ahead
The former Israeli central bank governor and current vice-president of the Israel Democracy Institute speaks with Christopher Jeffery about the BoI’s targeted emergency responses, economic uncertainties and central banking independence
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
Currency Benchmarks 2023 – model banks analysis
Data reveals how advanced and emerging market central banks structure their currency operations
Defending the basis
Benefits of additional Treasury liquidity may outweigh potential intervention costs during a hypothetical panic, writes Joseph Wang
UK financial institutions are ‘global public good’, says Bailey
BoE governor warns against fragmentation, criticises Brexit and discounts rate cuts
Asian bond spreads with US not widening, BIS research finds
Central banks’ actions have decoupled EME bonds from stronger dollar, researchers say
Covid-19 impact on cash demand minimal in past year
Majority of currency departments relax pandemic countermeasures
The predicament of bloated central bank balance sheets
Swollen balance sheets carry significant risks for combating inflation, ensuring financial stability and preserving central bank credibility, independence and effectiveness. How can central banks reduce them?
Public trust: the role of the private sector in exploring digital currency
Digital currencies that effectively protect financial privacy in lawful transactions will garner enduring confidence in the highly integrated networks of the future, argue J Christopher Giancarlo and Daniel Gorfine
Somalia’s Abdullahi on the challenges of re-integration with the international system
The Central Bank of Somalia governor speaks about capacity building, reintroducing the shilling, securing donor support and climate change
Joachim Nagel on the ECB’s terminal rate, fiscal policy, model relevance and the digital euro
The Deutsche Bundesbank president speaks about compromise on the Governing Council, rolling back PEPP, the need to implement Basel III and the chances of a revised Stability and Growth Pact
Canadian official says mortgage rates not big cause of inflation
Kozicki says taking home loans out would make only small dent in core reading
Colombian research offers advice on modelling Covid-19 shock
Pandemic is challenging to model due to its transitory impact, authors say
IMF and World Bank to go ahead with Marrakech meetings
Leaders say they wish to stand by Morocco after earthquake killed nearly 3,000
Book notes: Bold vision, by Freddy Orchard
Largely uncritical insights about the formation of the GIC and Singapore’s currency regime
Menon to step down as MAS head
Chia Der Jiun will become Singapore’s central bank boss in January