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Cain withdraws candidacy for Fed governorship
Trump’s pick faced widespread opposition due to partisan views aligned with the White House
RBI proposes regulatory sandbox in bid to grow fintech sector
Draft proposal would enable 10–12 companies to operate without usual regulations
Motivations and prospects for central bank digital currency
Sayuri Shirai surveys the many forces driving increased interest in CBDC
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
The Belt and Road Initiative 2019 Survey – A new driver for globalisation?
The second Belt and Road Initiative (BRI) Survey of 28 central banks reveals that they view the BRI as a major driver of globalisation, with a high percentage of respondents expecting the initiative to provide a significant boost to GDP. So far,…
Trendlines
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- Central bankers call for ‘practical action’ to tackle climate risks
- The Belt and Road Initiative 2019 Survey – A new driver for globalisation?
- ‘They could do nothing’: insights into political interference at the Fed
- Argentina imposes price controls to tackle hyperinflation
- US imposes sanctions on Venezuelan central bank
Comment
Motivations and prospects for central bank digital currency
Finding our way to the new Ibors
Walking the talk – engaging with indigenous communities
Our Take
The Brexit conundrum
The euro: a troubled third decade?
Three tricks to remove a troublesome Eurosystem governor
FCA stresses need for regulations to adapt to changing technology
Higher EU corporate bond spreads in 2018 unrelated to ECB policy – research
IMF budget flat for another year
Europe needs supervisory standards for climate risks – Lautenschläger
Equity market uncertainty can reduce real GDP – researcher
Bundesbank official calls for pan-European mobile payments champion