Independence
Malaysia’s Zeti on the key skills needed to be a successful central banker
The Bank Negara veteran speaks about leadership skills, lessons from the AFC and 1MDB crises, her scepticism of inflation targeting, and how the Asia School of Business' masters synthesises theory with practical realities
Lessons learned on macro-pru policies
Macro-prudential tools are proving their worth although use cases vary by country; integration into over-arching policy frameworks remains a challenge
How (not) to review your monetary policy framework
The Fed made some mistakes in its last strategy review. As it prepares to have another go, it could learn from other central banks
Central banks must reckon with the costs of quantitative easing
Asset purchase programmes have become a significant loss-maker for central banks. Jagjit Chadha says the losses raise questions about value for money, fiscal distortions and independence
Central Bank of Liberia set for reform as IMF approves funding
Damning audit report leaves acting governor with a lengthy to-do list
Alpana Killawala on communications under six governors at the RBI
The former RBI comms chief speaks about the importance of strategic communications, courting the media, open mouth operations and altering a governor’s ‘rock star’ image
Minister nominated as Bank of Spain governor
Opposition says appointment of José Luis Escrivá would throw bank’s independence into question
Interpreting the PBoC’s slew of policy reforms
How are new stimulus measures, bond market tactics, deflationary pressures and monetary policy framework changes affecting central banking in China?
Campos Neto on inflation targeting, independence and the future of financial intermediation
The Brazilian governor speaks with Christopher Jeffery about tackling inflation, the need for financial autonomy, and redefining the financial landscape with open finance, programmable Pix, deposit tokenisation and sound cross-border payments governance
Brazil congress postpones central bank autonomy bill again
Senate committee yet to schedule new date for vote on proposed law
Central bank balance sheets: is there an optimal structure?
Establishing guidelines is challenging, although there are many reasons why CBBSes are heterogeneous
Turkey’s economic odyssey: inflation, lira decline and strategic shifts
Marcello Minenna delves into the damage of 20 years of ‘Erdoganomics’
Over 25% of central banks pre-brief government on policy decisions
Briefing patterns differ across institutions, as two central banks start practice
Thai governor clashes with government over inflation target
Sethaput warns of inflation risks amid ongoing dispute with prime minister
Brazilian politicians launch legal action against Campos Neto
Allies of president escalate pressure on central bank as policy-makers opt to hold rates
Turkish court challenges president over governor dismissals
Presidential adviser says Erdoğan will still be able to sack governors
Book notes: Balance of power: central banks and the fate of democracies, by Éric Monnet and translated by Steven Rendall
This short book offers partial insights, but ultimately underwhelms
IMF says Iceland’s path is clear to easing rates
Housing and bank supervision remain a concern and central bank independence needs safeguards
Past US presidents’ Fed pressure raised inflation – NBER paper
Nixon-era evidence points to major impact on price level from “political pressure shocks”
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’
Trends in reserve management 2024: survey results
Insights on geopolitical risk, AI, asset diversification, risk management and ESG adoption
Bundesbank’s Nagel: central bank business models are changing
Panetta says wholesale CBDC likely to launch sooner than retail; Das gives update on digital rupee
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
Trump advisers aim to curb Fed independence, report says
WSJ says leaked document discusses sacking Powell and giving Trump vote on policy