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Draghi warns of downside risks as ECB ends net asset purchases
ECB will continue buying sovereign bonds with yields below deposit rate
Lower oil prices and stronger lira send Turkey and Argentina diverging
In 2019, analysts expect inflation to drop sharply in Argentina and to bounce back in Turkey
Philippines central bank rewarded for aggressive policy action
Soaring inflation slows amid aggressive rate hikes and easing oil prices
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
Agent-based models: a new frontier for macroeconomics?
Agent-based modelling is still struggling to move from sidelines to mainstream
Trendlines
Latest issue
Most read
- Demonetisation backer becomes new RBI governor
- Kohn ‘deeply’ worried Fed might not have support to fight next crisis
- Central banks turn to visual communication in 2018
- Indian governor resigns after conflict with government
- Book notes: Macroprudential policy and practice, edited by Paul Mizen, Margarita Rubio and Philip Turner
Comment
EME central banks can counter the next downturn
Media matters
Supervisory lessons: the need for intrusive supervision
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’?
Fragility of forex market stays SNB’s hand
Five central banks and supervisors join environmental group
Fed paper examines impact of liquidity rules on dealers
BoE paper outlines DSGE model of financial and real frictions
Central Bank of UAE enforces higher credit standards on cheque usage
Bahamas official criticises international rule-making