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Is Donald Trump undermining the Fed’s independence?
Persistent commentary could impact policy-making, but dialogue is necessary, says one observer
China’s exchange rate poses major challenge to fairer trade – US Treasury
Renminbi has fallen by 6.25% against US dollar in 2018, reserves have declined by $74 billion
Regulation could stabilise crypto asset market, experts argue
Uncertainty remains over what regulatory approach to take, but collaboration appears key
Quotes
Ironically, too much debt was at the heart of the crisis, and now we have more of it
Claudio Borio, head of the monetary and economic department, BIS
The political spotlight is far harder on central banks now. It is not particularly to do with monetary policy, but to do with whenever you have to take a step in terms of resolving a bank. There will be losers.
Philip Lane, governor, Central Bank of Ireland
Having a reliable institutional mechanism that supports fiscal responsibility will allow attention to focus on whether the central bank is delivering on its mandate, which I welcome.
Brian Wynter, governor, Bank of Jamaica
The countercyclical policies used in the past to accumulate reserves – which rose to one of the highest levels in the world – were to ensure a gradual transition and an effective absorption of any shock.
Ahmed Abdulkarim Alkholifey, governor, Saudi Arabian Monetary Authority
Equilibrium’s a great concept, but the dynamic side has suffered because there aren’t really very good theories on how quickly ideas or events will unfold.
Hal Varian, chief economist, Google
We had to make a decision quickly when we became convinced that the minimum exchange rate was no longer sustainable… We would have been faced with enormous capital inflows and a self-reinforcing speculative attack.
Thomas Jordan, governor, Swiss National Bank
I think [transparency is] a two-way street. If you are more open, you can receive more feedback.
Agustín Carstens, BIS general manager
Editor's choice
Tunisia’s El Abassi on central banking during a regional security crisis
Central Bank of Tunisia governor talks about capacity building, fintech and relations with the IMF
Trendlines
Latest issue
Comment
What is the future of banknotes?
Supervisory lessons: faultlines in prudential regulation
Reserve management practices are splintering
Our Take
New Jamaican law could end Caribbean’s ‘colonial era’
Argentina falters at ‘historic’ moment for BCRA
Time for Central Bank of Argentina independence
Fed’s QE programme changed US corporate financing – BdF paper
Ghana’s central bank ramps up cyber effort
Daly favours Fed’s gradual normalisation policy
Debt poses a threat to African monetary policy – BIS paper
Financial regulation reform must not stop, Olli Rehn tells IMF
Next policy move will likely be hawkish, RBA says