International
Lagarde warns fragmented world could be inflationary
“Multipolarity” could also raise global co-ordination challenges, ECB president says
Carstens calls for return to ‘region of stability’
Short-term thinking has led to increasingly painful trade-offs for policy, BIS chief says
Monetary policy faces tougher trade-offs – IMF panel
Financial instability risks may be abated with changes to inflation targets and tools
Decentralised finance is here to stay
Whatever happens to cryptocurrencies, tokenisation is the future
‘Back to the future’ for FX reserve management
Rise in bond yields changes the dynamics of ‘security, liquidity and return’, writes Gary Smith
CBDCs will change international monetary system – IMF panel
Bank of Mauritius governor says CBDCs may protect sovereignty and combat illicit financing
FSB to draw lessons from banking stress
Nature of vulnerabilities and speed of recent crisis call for review of regulation, Klaas Knot says
Currency round-up: De La Rue issues profit warning
Central African central bank to release new coins; and more
US banks still vulnerable to interest rate risk, IMF warns
“Supervisory lapses” appeared to be a factor in recent collapses, as many institutions remain exposed
Global economy will be ‘anaemic’ – IMF
Inflation falling, but central banks will only reach targets over 2024 and 2025
Central bankers cast doubt on utility of CBDC
“Element of Fomo” drives projects on even when purpose is unclear and resources lacking
People: First governor of Congo central bank dies aged 92
Deputy governors depart in Canada and Sweden; and more
Geopolitical risks set to fuel financial instability, IMF says
Report urges supervisors to integrate this factor into their stress tests
IMF research emphasises link between inflation and fiscal policy
Authors call for spending cuts and large, targeted wealth transfers to the poor
Central banks need non-bank liquidity ‘toolbox’, says IMF
Fund says central banks should act as lender of last resort to systemically important non-banks
Opec+ production cut threatens inflation outlook
Higher energy prices were the main factor boosting inflation in 2022
Tech could shake up international monetary system – IMF paper
Inertia likely to maintain status quo in near term, but impact of technology “highly uncertain”
PBoC swap lines now key international bailout tool
Researchers say PBoC extended support worth billions of dollars to Belt and Road countries
Banknotes: January to March 2023
A round-up of news and salient issues that have affected central bankers in the past three months
Basel Committee chair reflects on CCyB effectiveness
Pablo Hernández de Cos suggests review of counter-cyclical buffer as uses of tool diverge
Edmund Phelps and the search for a ‘new economy’
The Nobel Prize winner helped lay the foundations of modern macroeconomics. Now he is concerned something is deeply wrong with how policy-makers think about the economy
Central Banking Awards 2023 – the winners in full
Awards recognise extraordinary achievements by central banks and their partners in the past year
IMF review finds flaws in Covid-19 response
Key departments lacked sufficient staff and fund missed surge in inflation, IEO report says
People: January to March 2023
A round-up of central bankers in the news and on the move during the past three months