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Demonetisation backer becomes new RBI governor
Former civil servant Shaktikanta Das picked to take over after Urjit Patel’s resignation
ECB secondary bond purchases are legal, European Court of Justice says
European Union’s highest court rejects German activists’ claim that PSPP breached constitution
Brainard reboots calls for countercyclical buffers
“Countercyclical capital requirements build resilience, unlike monetary policy,” Brainard says
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
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Supervisory lessons: the need for intrusive supervision
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Our Take
The euro: a troubled third decade?
Three tricks to remove a troublesome Eurosystem governor
Can central bank revamp help Tunisia remain a ‘public good’?
RBA authors try to estimate banknotes’ whereabouts
Carstens warns world is not fully prepared for fresh crisis
Tunisia keeps rates unchanged on stable inflation
Falling offshore borrowing has helped shield Australia – RBA official
Brazil’s inflation fell below target in November
IMF tells Jamaica to bring in risk-based supervision