Communication
Half of central banks quarantined banknotes during the pandemic
But only 37% ran a study relating to Covid-19 and banknotes
Podcast: Dominik Weh on why central banks need to embrace technology
Central banks need to keep abreast of the current technology or risk being left behind
Fed pulls trigger on taper
Fed begins phasing out QE at initial rate of $15 billion per month
‘Say what?’ Trust in central bank communications
Central banks are changing how they communicate with different audiences, but judging the success of these communication efforts is difficult
Central bank communications ‘after’ Covid
From crisis responses to coping with sudden digitisation, Covid-19 forced central bank comms teams to innovate fast. How much of it will stick?
James Bullard on Fed policy, action and governance
St Louis president calls for tapering amid “exceptional” job market and risk of “more persistent” inflation, quantifies ‘big tent language’ for pioneering AIT move, and details Congress’s role in Fed ethics oversight
BoE ends off-the-record meetings with banks
Change follows concerns about similar practices at other central banks
Covid-19, crypto and climate weigh on global economy – GFSR
Central banks face difficult “intertemporal trade-offs”; poorer nations unlikely to regain pre-Covid growth levels for “many, many years”, says IMF’s financial counsellor Tobias Adrian
Why fintech governance matters for central banks
Fintech throws up an array of challenges that may require central banks to adapt their frameworks
Wide range of financial stability arrangements among central banks
Boards are prime financial stability decision-making body at many participants
Agustín Carstens on BIS strategic priorities, innovation and central bank policy
The BIS general manager speaks about policy trade-offs at critical time, tackling NBFIs and the dearth of ‘green’ assets, tech collaboration, and why he favours Biden’s $3.5trn infrastructure bill
Monetary Policy Benchmarks 2021 report – executive summary
Insights into the staff that work on monetary policy, decision-making, tools, transparency and market operations
Sustainability: a hallmark of cash
Tod Niedeck, corporate marketing director at Crane Currency makes the case for the sustainability benefits that are inherent in the production of paper banknotes, contrasting this with the environmental difficulties that face plastic banknotes at the end…
Central banks split on blackout periods
Reasons for operating blackout periods include facilitating effective policy transmission and avoiding speculation
Central banks divided on publishing policy meeting minutes
Central banks in advanced economies more likely to publish minutes
BIS to throw open doors for 90th anniversary
Delayed celebration will invite public to multimedia exhibition in main tower
Majority of central banks do not take account of forecast errors
Surveys of inflationary expectations used widely, alongside macroeconomic and market indicators
Book notes: How boards work, by Dambisa Moyo
Moyo offers insights into the skills required to be a valued board director, as well as a thought-provoking list of issues that may appear with greater frequency on future board agendas
Powell says taper test has been met ‘with regard to inflation’
Fed chair tells Jackson Hole conference that slowing QE this year “could be appropriate”
DCash: motivations, challenges, and lessons from the first monetary union CBDC pilot
Having worked on its Digital Currency Management System since 2016, Bitt has launched the first synthetic CBDC in Barbados, followed by another first in the Eastern Caribbean Currency Union in March this year, with more ahead
An assessment of the ECB’s strategy review
A number of aspects of the new framework raise challenges for implementation and credibility, while the inclusion of climate change may politicise the institution, writes euro architect Otmar Issing
Bank of Mexico increases monetary policy transparency
Central bank to start disclosing individual votes of board members after policy meetings
The distant cry of hawks? Fed begins tightening talk
Richard Clarida gives a date for hiking interest rates, as debate on taper timing continues
Brainard reiterates that inflation is ‘transitory’
Fed board member speaks after PCE inflation figure of 4% released