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New German ECB board member may help unify governing council
Leading candidates seen as capable of playing a more constructive role, as critics become more vocal
Draghi defends ECB policy
ECB president welcomes debate but insists crisis-fighting policies saved eurozone
Fed unveils plan for ‘technical’ asset purchases
New York Fed will buy Treasuries “at least into the second quarter of next year”
Quotes
Sometimes, what is forgotten with forward guidance is that we are also speaking to households and businesses, to give them a sense of the general direction, some general orientation: be prepared, but do not overreact.
Mark Carney, governor, Bank of England
Financial intermediaries continue to exercise their privileged position, protected by licences, to determine where money comes from and where it goes to, so as to maximise their already disproportionately large profits and bonuses, paid for eventually by users of financial services
Joseph Yam, former chief executive, Hong Kong Monetary Authority
There’s this fear that domestic currencies are going to be totally undermined, so you might actually want to have some sort of central bank digital currency
Tobias Adrian, financial counsellor, IMF
It is only when you get to a relatively extreme situation, where your entire yield curve is very close to the effective lower bound, that targeting specific long-term yields makes sense
Eric Rosengren, president, Federal Reserve Bank of Boston
It is possible to take out some of the [populist] anger. But you really do have to have a good executive response. We will have to see how that works out.
Raghuram Rajan, former governor, Reserve Bank of India
China may do some things to reduce the trade imbalance with the US. But actually, the bilateral trade balance does not mean very much. We need to discuss the multilateral balance.
Zhou Xiaochuan, former governor, People’s Bank of China
Editor's choice
BSP’s Diokno on forward guidance and cutting reserves
Philippines governor, Benjamin Diokno, speaks about fintech and efforts to wean Asia off the US dollar
Trendlines
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Comment
Central bankers without clothes and clout
Regulators should embrace digital ID
The Fed’s trade policy dilemma
Our Take
Seven threats from big tech’s libra
30 years of central banking
An inside story on the central bank gold agreement
Falls in uncertainty may warn of coming crises – Bundesbank paper
Inflation in Mexico falls to target for first time since 2016
There are better ways to solve China trade dispute – Atlanta Fed economist
Italian firms may rely too much on bank credit – research
RBA paper looks at responses to liquidity crises
BoE FPC: Markets may ‘jump to illiquidity’ if stressed