CB Opinion
Can US policy choices explain economic divergence?
NIESR’s Ahmet Kaya finds US fiscal stimulus may have masked standard economic relationships
Regulating data use: implications of data sitting in the middle
Regulators need to take action to ease tensions created by the growing use of data, says Manoj Singh
Sooner or later, Argentina should dollarise
Dollarisation would be straitjacket, says Steve Kamin, but still looks preferable to the other options
Defending the basis
Benefits of additional Treasury liquidity may outweigh potential intervention costs during a hypothetical panic, writes Joseph Wang
Data sharing as a policy intervention
Increasing access to data represents another policy lever regulators can pull to achieve their objectives, writes David Bholat
Yes, Argentina can replace the peso with the US dollar
Steve Hanke and Matt Sekerke explain how dollarisation can succeed despite the BCRA’s limited reserves
Central banks must brace for another energy shock
Conflict between Israel and Hamas adds to the risk of inflation and recession, says Paul Mortimer-Lee
FedNow – at last
The instant payment system might help fix the US’s rusty payment rails, but it also faces competition, says Dave Birch
Demand for cash under uncertainty: a global update
Antti Heinonen explores data showing surges in cash demand during periods of uncertainty
A league table for central bank hawkishness
Steve Kamin runs the numbers to assess which central banks have raised rates most aggressively
Stress-testing the banking system: what lies ahead?
Pedro Duarte Neves says stress tests must evolve to capture systemic, liquidity and cyber risks
Will the use of CBDCs improve cross-border payments?
International trials using CBDCs highlight significant architectural and practical challenges, writes Warren Coats
Data privacy and protection: non-negotiable supervisory equations
Manoj Singh says data protection is essential to modern finance, but throws up myriad supervisory challenges
Global growth is stalling: what must be done?
Jagjit Chadha says leaders are failing to make a serious attempt to tackle deepening global problems
A letter to Andrew Bailey
As the Bank of England struggles to bring inflation down, Jagjit Chadha warns the governor not to let markets take control
Deposit insurance: what lies ahead?
Proposals to redesign deposit insurance may be neglecting the market’s role, says Manoj Singh
Legislation is needed for future-reliable cash infrastructure
Dutch finance ministry’s recognition of cash’s “very important” role in payments and financial system functioning is crucial to safeguarding access and acceptance, says Martina Horakova
Another financial crisis hiding in plain sight
Steve Kamin analyses how the risks that sank SVB were plain enough to those who looked for them
Decentralised finance is here to stay
Whatever happens to cryptocurrencies, tokenisation is the future
Banknote themes in motion
Antti Heinonen asks whether the world is about to witness a revolution in banknote images
It is time to rethink the balance of monetary and fiscal policy
Jagjit Chadha says the current moment calls for more subtle policy engineering than in past bouts of high inflation