Central Banking
Latest
Yellen calls for ‘new Dodd-Frank’
Fed prevented financial crisis in March, says former chair, as Brainard backs calls for reform
BoE issues deadline for firms’ climate risk plans
PRA says firms’ climate risk disclosures and scenario planning need major improvements
How the Fed’s Covid stress test got stuck in the middle
Experts fear CCAR add-on has neither informed investors nor guided capital management
Quotes
The big risk [the Fed's] taken – and it is an enormous risk – is by not just venturing into investment-grade credit, but also in venturing into parts of high-yield credit
Mohamed El-Erian, chief economic adviser, Allianz
We remain very committed to blockchain architecture as a distributed ledger technology for this project. Without it, the project doesn’t achieve many of the efficiencies
Dante Disparte, vice-chairman, Libra Association
Europe is not only the ECB. These measures buy time again. But there must be a political decision to put in place a fiscal structural mechanism.
Peter Praet, former chief economist, European Central Bank
Yield curve control has not helped to raise aggregate demand, demand for credit, inflation or inflation expectations – just like quantitative easing and other tools adopted in Japan
Sayuri Shirai, former policy board member, Bank of Japan
If I have gold, I am not going to be told by the US government that my US dollars are not usable. This is fundamentally reassuring.
Jacques de Larosière, former managing director, International Monetary Fund
It may, over time, look like the manager of the one of the world’s largest single pools of financial assets trying to run a central bank on the side.
Knut Kjær, former chief executive, Norges Bank Investment Management
You probably think minutes are a gold mine. Well, they are like a gold mine in that there is a whole bunch of rock and not much gold.
Stephen Poloz, governor, Bank of Canada
Editor's choice
Coronavirus panic fuels a surge in cash demand
Evidence of hoarding in Australia, Brazil, Canada, the eurozone, Russia and the US
Comment
The Fed must be careful to avoid bank deposit crowding out
NGFS offers concrete next steps to assess climate vulnerabilities
Iran’s race towards monetary policy reform faces high hurdle reality
Our Take
High US inflation should not be ruled out
Central banking enters a new era
Global carbon taxes are coming: central banks must prepare
Researchers test forward-looking uncertainty measures
US unemployment stats understate problem – research
Philippines central bank links up with debt trading platform
Eurozone inflation reached 0.3% in June
US living wills must include ‘lessons learned’ from Covid-19
Dividends should be subject to macro-pru limits – ECB paper