Central bank mandates
UK opposition sees greater role for BoE in fighting climate change
John McDonnell says BoE can do more to drive investment in productive, green sectors
Climate change – Where can central banks contribute?
Climate change is becoming increasingly important to central banks thanks to its implications for financial stability. In a forum sponsored by Amundi, Central Banking convened a panel of experts to discuss the latest innovations, regulations and…
A powerful new force – Central banks and climate-related risks
Increasing global concern about climate change is causing central banks to take notice of the issue and its potential implications. Frédéric Samama, head of institutional client coverage at Amundi, examines the findings of Central Banking’s survey on…
Why two degrees matters to central banks
Ulrich Volz explores why strong leadership is required from central banks and supervisors to ensure the financial sector will be in a position to weather climate risks.
UK Labour Party floats idea of house price target for BoE
Report from opposition party suggests central bank could target 2% house price growth
Namibian government proposes to cap its borrowing from central bank
Finance minister asks for five-fold increase to central bank’s capital to pay for new responsibilities
ECB’s chief economist takes to Twitter
Praet expresses scepticism about dual mandate and rejects ‘modern monetary theory’
South Africa to press ahead with Sarb nationalisation
Governor Kganyago warned in July 2018 nationalisation would be a long and expensive process
Trump does not grasp macroeconomic policy – Yellen
Former Fed chair doubts president could recite Fed’s dual mandate goals
Philippine central bank handed new stability powers and mandate
Act removes money supply and credit as determinants for monetary policy in addition to granting central bank broader supervisory scope
RBNZ adopts new dual policy target
New Zealand’s central bank will now have maximum employment target alongside inflation goal
Sarb’s mandate will not change, president Ramaphosa says
Officials move to clarify manifesto claim following backlash
French governor warns of the perils of ‘impatience’
Central banks should maintain a longer term view, even in the face of volatility and government pressure
Divergent motives fuelling CBDC discussion, BIS survey reveals
Majority of central banks are researching the various forms of CBDC, but very few expect to launch in the next six years
Book notes: Macroprudential policy and practice, edited by Paul Mizen, Margarita Rubio and Philip Turner
An important overview of the current state of thinking about macro-prudential policy, but uncertainties remain about the current allocation of financial stability responsibilities
Beyond payments: central bank digital currency
The issuance of central bank digital currencies, such as Sweden’s proposed e-krona, could facilitate monetary policy beyond the zero lower bound
Bank of Israel to form financial stability committee
Central bank governor will chair committee aimed at co-ordinating regulators
RBNZ and Fed ran similar policies despite different mandates, paper finds
New Zealand’s inflation target led to similar policies as Fed’s dual mandate, researchers find
RBNZ makes major changes to leadership structure
Central bank to be headed by a senior leadership team
Cuban senate issues new financial system laws
Central bank, financial institutions and market infrastructure entities are all impacted
New Zealand Treasury secretary to attend monetary policy meetings
RBNZ’s amendment bill set to create a permanent observer position for the Treasury
Economists call for IMF to become like ‘modern central bank’
Growing demands on the fund require a governance revamp, ‘Geneva report’ argues
New Zealand to open next phase of RBNZ act review
Labour government to review case for separating prudential supervision from the central bank
Book notes: Till Time’s Last Sand, by David Kynaston
Kynaston allows readers to develop their own understanding of how the BoE has had to refind its place in a country where the political system has migrated from commercial republic to full-franchise democracy